descriptive statistics, inferential statistics
What are the two main objectives of statistics in applied marketing research?
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?"
a type of statistics in applied marketing research; generalizes results to a population; uses a sample to infer about a population
Managerial decisions are for a ____________, not a _________
We'll never be sure of the ____________ about a population, but we can make a good educated guess about it using inferential statistics
the total of all elements (people) that share some common characteristic(s); the goal of marketing research is to learn about this (the 'truth')
a subset of a population; the goal of marketing research is to use this to learn about the population
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
a summary description of a variable of the sample; used as an estimate for the population parameter
µ or σ notations are examples of ________________
X-bar or S notations are examples of __________________
You use either ___________ or ___________ summaries to summarize descriptive statistics
central tendency (mean, proportion, median) and measures of dispersion (standard deviation, variance, range) are examples of ____________________
frequency distribution, histograms, and charts (pie, line, bar, etc.) are examples of ____________________
Can you report means or standard deviations for nominal variables?
Can you report means or standard deviations for ordinal variables?
Numerical summaries for ___________ and ____________ scale levels include proportions (=percentages), counts, or frequency tables
Numerical summaries for __________ and ________ scale levels include mean, median, standard deviation, variance, or range
___________ summaries are useful in research reports, but only for key questions/insights (more useful for presentations)
Graphical summaries that should be used for __________ and ___________ scale levels include frequency tables, bar charts, or pie charts
Histograms are the form of graphical summaries that should be used for __________ and ___________ scale levels
The median is ________ affected by extremely large values
__________________ are useful in research reports, but only for key questions/insights
the histogram for a population is a _________ line
the frequency distribution (histogram) of all elements (people) of the population
Population mean is denoted by what Greek letter?
What is standard deviation of population distribution denoted by?
The population distribution is ___________, meaning we can only guess about it
the frequency distribution (histogram) of all elements (people) in your sample
The sample distribution is ______________ once you have your sample
Is the sample distribution a smooth line?
What is the mean of a sample distribution denoted by?
what is standard deviation of a sample distribution denoted by?
it is bell-shaped and symmetric; one of the most useful and used probability distributions;
Once you know mean _____ and standard deviation _______, it is easy to compute probability values for the normal distribution
Inferential statistics is based on the __________ distribution
____% of observations are within 1 standard deviation of the mean of the normal distribution
____% of observations are within 2 standard deviations of the mean of the normal distribution
____% of observations are within 3 standard deviations of the mean of the normal distribution
Managerial decisions are for the _______________
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
when the sample size to compute the sample means is large, the sampling distribution is a __________ distribution
mean for the sampling distribution is denoted ________ and it has the same mean as the population distribution
standard deviation for the sampling distribution is denoted ________
the __________________ is the theoretical framework for confidence intervals and hypothesis testing
It is unknown but you want to know about it
It is known once we have our sample
It is used to infer about the population distribution
It is bell-shaped (a normal distribution)
It is used to get an idea of how good our sample mean estimates the population mean mu
If the sampling distribution is ________, your sample mean may be far away from mu
If the sampling distribution is ________, your sample mean is likely closer to mu
tells you how large the random (sampling) error is and is more informative than a point estimate