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# Measures of Variability in Data Analysis

Created by
@MiraculousSodium

Mean

Range

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

Standard deviation

### 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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