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Questions and Answers
Which measure of variability identifies the distance between the lowest and highest values in a set?
Which measure of variability identifies the distance between the lowest and highest values in a set?
What does standard deviation indicate about a set of values?
What does standard deviation indicate about a set of values?
What does a frequency distribution tabulate in a set of values?
What does a frequency distribution tabulate in a set of values?
What is the primary purpose of a percentage distribution in statistics?
What is the primary purpose of a percentage distribution in statistics?
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Which of the following measures is concerned with depicting the 'typical' difference between values in a set?
Which of the following measures is concerned with depicting the 'typical' difference between values in a set?
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What type of analysis is used to determine the degree of real and generalizable differences in a population?
What type of analysis is used to determine the degree of real and generalizable differences in a population?
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Which analysis investigates the relationship between two variables?
Which analysis investigates the relationship between two variables?
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What type of analysis is used to generalize results from a sample to the target population?
What type of analysis is used to generalize results from a sample to the target population?
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Which measure of central tendency is defined as the value that occurs most often in a set of numbers?
Which measure of central tendency is defined as the value that occurs most often in a set of numbers?
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Which set of measures describe how similar or dissimilar respondents are to typical respondents?
Which set of measures describe how similar or dissimilar respondents are to typical respondents?
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Which analysis helps marketing researchers portray the 'typical' respondent and reveal response patterns?
Which analysis helps marketing researchers portray the 'typical' respondent and reveal response patterns?
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Study Notes
Types of Data Analysis
- Descriptive Analysis: used to describe the sample dataset, portraying the "typical" respondent and revealing the general pattern of responses
- Inference Analysis: uses statistical procedures to generalize the results of the sample to the target population
- Difference Analysis: determines the degree to which real and generalizable differences exist in the population
- Association Analysis: investigates if and how two variables are related
- Relationship Analysis: uses statistical procedures and models to analyze multiple relationships among variables
Understanding Data via Descriptive Analysis
Measures of Central Tendency
- Mode: the value that occurs most often in a string of numbers
- Median: the middle value in an ordered set of values
- Mean (or average): the sum of all values divided by the total number of values
Measures of Variability
- Frequency Distribution: a tabulation of the number of times each value appears in a set of values
- Range: the distance between the lowest value (minimum) and the highest value (maximum) in an ordered set of values
- Standard Deviation: indicates the degree of variation or diversity in the values, translatable into a normal or bell-shaped curve distribution
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Description
Explore different analysis techniques used in market research, including Descriptive Analysis, Inference Analysis, and Difference Analysis. Learn how each technique helps researchers to draw meaningful conclusions from sample datasets and make informed decisions for the target population.
