Decision Tree

Question 1

What is a decision tree

Answer 1

Analytical tool to split decision problem in smaller research problem

Question 2

What does it mean to work backwards

Answer 2

1st answer research questions

then decision problem

Question 3

Research questions should include

Answer 3

current demand 
market potential 
attitudes preferences 
decision making process 
demographics, segments 
competitors

Question 4

What is the research design structure

Answer 4

Identify problem 
operationalise variables 
design experiment (decision tree process) 
collect data
analyze interpret data 
experiment again 
communicate results

Question 5

Primary data

Answer 5

data that has been specifically collected for current research project

Question 6

Secondary Data

Answer 6

Data that have been previously collected and assembled for some research project other than current situation

Question 7

Secondary data examples

Answer 7

Internal
Inventory 
Financial statements 
Cost information 
External 
Libraries 
Internet 
books