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