VS MR Glossary And Notes Flashcards
A confidence interval is a range calculation showing…
A confidence interval is a range calculation showing how confidently we believe a sample mean (or other parameter) falls in a range for the population mean.
Example interpretation
“based on my sample of 31 golden retriever weights with sample mean 64.408 and sample standard deviation of 2.05, I am 95% confident the population mean lies between 63.686 and 65.1296.”
the margin of error (E) is the range…
the margin of error (E) is the range around the sample mean that contains the population mean at that level of confidence.
The formula to get this margin of error is:
E = +-critical z score * (sample standard deviation / the square root of sample size n)
Z score = (x - mean) / standard deviation
MaxDiff has become widely popular in marketing research for measuring ____ and ____ (as a generally better approach than ____ Scales).
MaxDiff has become widely popular in marketing research for measuring preferences and importances (as a generally better approach than Likert Scales).
Do polls matter?
Polls give you a snapshot of where things stand in time, and that’s information we can all use in one way, shape, or form.
Maybe the horse race poll is off. But the rest of the information you get from polling gives you that context.
An incumbent that is a sitting president at 40% approval rating, has about a ___ chance of winning.
We’ve done a kind of global analysis at Ipsos (taking past elections and aggregating them). What we find is an incumbent that is a sitting president at 40% approval rating, has about a 55% chance of winning.
Standard deviation
In statistics, the standard deviation is a measure of the amount of variation of a random variable expected about its mean.
A low standard deviation indicates that the values tend to be close to the mean (also called the expected value) of the set, while a high standard deviation indicates that the values are spread out over a wider range.
