Mpn

Question 1

Interpreting market data

Answer 1

Correlation
Extrapolation
Confidence intervals

Question 2

What is correlation

Answer 2

It occurs when there is an apparent relationship between one factor and another

Question 3

Extrapolation

Answer 3

One method of forecasting sales is to look at what’s happened in the past and use that information to make a prediction on what will happen in the future

Question 4

Confidence levels and intervals

Answer 4

Confidence levels are when sampling is used and since it can’t be 100% accurate they then use a confidence level to indicate how confident they are with the results

68% confidence level= 68% sure they have represented their target audience accurately