Week 3 - Research and Measurement Flashcards
why do research and analysis?
in order to make the right decision
does all data and analysis have value?
NO - only if they help us make a decision
raw data has very little value
in hypothesis testing, when do you make a prediction
prior to testing (a priori)
what is the purpose of marketing research
inform decision making for business decisions (vs scientific research for instance)
what do you call raw data once it has been analysed?
interpreted data, ie, information
how should a decision maker be involved?
understand enough to know what’s reliable
tell the research team which questions to answer
potentially make predictions
project manage perhaps
be able to think like a researcher
how should a researcher be involved?
convert questions/predictions into testable hypotheses
conduct the applicable research
present results in a way to answer the original question
communicate information clearly - reduce the complex
how should administrators be involved?
understand sufficiently to
1) find common ground
2) engage throughout the process
what is inferential statistics?
statistical analysis to infer or estimate from a population
based on probability
what are the properties of data?
assignment
assignment and order
assignment order, and distance
assignment order, distance, and origin
what is the minimal requirement for raw data to be analysed?
must be able to place into categories (at least assignment)
can have:
assignment order, distance, and origin
what is assignment for data?
groupings
eg, color, gender, state
what is order for data?
data points that can be ordered eg, birth order, class rank, placement in race
what is distance for data?
ability to understand how far apart data points are from each other
eg, one person has 100%, another has 80%, distance is 20ppt
what is origin for data?
an unambiguous starting point or point of comparison
eg, zero is the lowest grade, 2018 is the current year
allows measurement of distance between data points AND vs origin
what are the four classifications of data?
non-metric
- nominal
- ordinal
metric
- interval
- ratio
what is nominal data classification?
nonmetric = nonparametric tests
assignment only
central tendency is only mode (most frequently occurring)
eg, most of these m&ms are blue
what is ordinal data classification?
nonmetric
assignment and order
central tendency is only mode or median
eg, shortest to tallest height
what is interval data classification?
metric = parametric data analysis available
assignment, order, and distance
(considered continuous because distance between points is measurable)
central tendency: mean, median, and mode (all three)
eg, what is the average length of a canoe
what is ratio data classification?
metric
assignment, order, distance, and origin
continuous
all central tendencies (mean, median, and mode)
eg, star ratings between books, consumption over years
what are descriptive statistics
a quantitative approach to identifying characteristics about a respondent pool
not a testing method
who answered our questions? what is the make up of our data overall?
what tools does descriptive statistics use?
central tendencies (mean, median, mode)
percentages
measures of dispersion
frequency distributions