# Marketing Research ch. 14-15

#### Terms in this set (53)

• descriptive statistics, inferential statistics
What are the two main objectives of statistics in applied marketing research?
• descriptive statistics
one of the main objectives of statistics in applied marketing research; makes data usable; "What is overall satisfaction for the new toothbrush?";"How often do people use the brush?";"Are men or women happier with our product?"
• inferential statistics
a type of statistics in applied marketing research; generalizes results to a population; uses a sample to infer about a population
• population, sample
Managerial decisions are for a ____________, not a _________
• exact truth
We'll never be sure of the ____________ about a population, but we can make a good educated guess about it using inferential statistics
• population
the total of all elements (people) that share some common characteristic(s); the goal of marketing research is to learn about this (the 'truth')
• sample
a subset of a population; the goal of marketing research is to use this to learn about the population
• population parameter
a summary description of a variable of the population; denotes the 'true value' which would be obtained if a census rather than a sample was undertaken
• sample statistics
a summary description of a variable of the sample; used as an estimate for the population parameter
• population parameters
µ or σ notations are examples of ________________
• sample parameters
X-bar or S notations are examples of __________________
• numerical, graphical
You use either ___________ or ___________ summaries to summarize descriptive statistics
• numerical summaries
central tendency (mean, proportion, median) and measures of dispersion (standard deviation, variance, range) are examples of ____________________
• graphical summaries
frequency distribution, histograms, and charts (pie, line, bar, etc.) are examples of ____________________
• no
Can you report means or standard deviations for nominal variables?
• no
Can you report means or standard deviations for ordinal variables?
• nominal, ordinal
Numerical summaries for ___________ and ____________ scale levels include proportions (=percentages), counts, or frequency tables
• interval, ratio
Numerical summaries for __________ and ________ scale levels include mean, median, standard deviation, variance, or range
• graphical
___________ summaries are useful in research reports, but only for key questions/insights (more useful for presentations)
• nominal, ordinal
Graphical summaries that should be used for __________ and ___________ scale levels include frequency tables, bar charts, or pie charts
• interval, ratio
Histograms are the form of graphical summaries that should be used for __________ and ___________ scale levels
• less
The median is ________ affected by extremely large values
• graphical summaries
__________________ are useful in research reports, but only for key questions/insights
• smooth
the histogram for a population is a _________ line
• population distribution
the frequency distribution (histogram) of all elements (people) of the population
• mu
Population mean is denoted by what Greek letter?
• sigma
What is standard deviation of population distribution denoted by?
• unknown
The population distribution is ___________, meaning we can only guess about it
• sample distribution
the frequency distribution (histogram) of all elements (people) in your sample
• known exactly
The sample distribution is ______________ once you have your sample
• no
Is the sample distribution a smooth line?
• x-bar
What is the mean of a sample distribution denoted by?
• s
what is standard deviation of a sample distribution denoted by?
• normal distribution
it is bell-shaped and symmetric; one of the most useful and used probability distributions;
• mu, sigma
Once you know mean _____ and standard deviation _______, it is easy to compute probability values for the normal distribution
• normal
Inferential statistics is based on the __________ distribution
• 68
____% of observations are within 1 standard deviation of the mean of the normal distribution
• 95
____% of observations are within 2 standard deviations of the mean of the normal distribution
• 99
____% of observations are within 3 standard deviations of the mean of the normal distribution
• population
Managerial decisions are for the _______________
• sampling distribution
the distribution of the sample means (x-bars); it is a theoretical distribution - to get it, you take many samples from a population, compute x-bar for each sample, then construct a histogram from all computed sample means
• normal
when the sample size to compute the sample means is large, the sampling distribution is a __________ distribution
• mu
mean for the sampling distribution is denoted ________ and it has the same mean as the population distribution
• s/sqrt(n)
standard deviation for the sampling distribution is denoted ________
• sampling distribution
the __________________ is the theoretical framework for confidence intervals and hypothesis testing
• population distribution
It is unknown but you want to know about it
• sample distribution
It is known once we have our sample
• sample distribution
It is used to infer about the population distribution
• sampling distribution
It is bell-shaped (a normal distribution)
• sampling distribution
It is used to get an idea of how good our sample mean estimates the population mean mu
• fat
If the sampling distribution is ________, your sample mean may be far away from mu
• skinny
If the sampling distribution is ________, your sample mean is likely closer to mu
• confidence interval
tells you how large the random (sampling) error is and is more informative than a point estimate