Measures of Variability in Data Analysis
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Questions and Answers

What term refers to the 'typical' difference between the values in a set of values?

  • Frequency distribution
  • Mean (correct)
  • Standard deviation
  • Range

    • Which measure of variability identifies the distance between the lowest and highest values in an ordered set?

  • Mean
  • Range (correct)
  • Standard deviation
  • Frequency distribution

    • What measure of variability indicates the degree of variation or diversity in a set of values?

  • Range
  • Mean
  • Frequency distribution
  • Standard deviation (correct)

    • What is a commonly used basis for market segmentation according to the text?

    <p>Statistically significant differences</p> Signup and view all the answers

    Which type of segmentation is NOT mentioned in the text?

    <p>Income-based</p> Signup and view all the answers

    Why is it important for differences in market segmentation to be statistically significant?

    <p>To ensure differences exist in the population</p> Signup and view all the answers

    What is the measure of central tendency defined as the value that occurs most often in a string of numbers?

    <p>Mode</p> Signup and view all the answers

    Which measure expresses the value that lies in the middle of an ordered set of values?

    <p>Median</p> Signup and view all the answers

    What type of measures describe how similar or dissimilar respondents or responses are to typical values?

    <p>Measures of Variability</p> Signup and view all the answers

    Which analysis helps determine if and how two variables are related?

    <p>Association Analysis</p> Signup and view all the answers

    What is used when marketing researchers generalize sample results to the target population?

    <p>Inference Analysis</p> Signup and view all the answers

    Which measure describes the degree of spread or variation in a dataset?

    <p>Standard Deviation</p> Signup and view all the answers

    What does ANOVA stand for?

    <p>Analysis of Variance</p> Signup and view all the answers

    What does a significant p-value in ANOVA indicate?

    <p>At least one pair of group means is statistically different</p> Signup and view all the answers

    What is an advantage of using ANOVA over multiple t-tests?

    <p>Both b and c</p> Signup and view all the answers

    What does a 'relationship' between two variables imply in associative analyses?

    <p>A consistent, systematic linkage between the variables</p> Signup and view all the answers

    What refers to the characteristics of description for interval or ratio scales?

    <p>Levels</p> Signup and view all the answers

    What does a statistically significant result in a study imply?

    <p>The results can be generalized to the entire population</p> Signup and view all the answers

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