Marketing Management Tutorial 9&10

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Questions and Answers

What type of t-test would be most appropriate for comparing the means of two independent groups?

  • Paired sample t-test
  • Independent sample t-test (correct)
  • One-sample t-test
  • ANOVA

Which assumption is not required for conducting an ANOVA test?

  • Constant variance across groups
  • Equal sample sizes across groups (correct)
  • Independence of observations
  • Normal distribution of outcome variable

When is a paired sample t-test most appropriately utilized?

  • When comparing means of two independent groups
  • When assessing the means across matched pairs of observations (correct)
  • When making a comparison between sample mean and a known value
  • When comparing means across more than two groups

In which scenario would you choose a Chi-square test for independence?

<p>You wish to compare categorical proportions among multiple independent groups (D)</p> Signup and view all the answers

What action should be taken if the assumption of normality is violated in t-tests?

<p>Replace t-test with a non-parametric test (D)</p> Signup and view all the answers

What is a likely reason people rate their abilities as above average for tasks perceived as easy or familiar?

<p>They tend to underestimate the average performance of others. (D)</p> Signup and view all the answers

How is the value derived from gains perceived as the amount of gain increases according to the Diminishing Sensitivity principle?

<p>The initial gains are perceived as more valuable than subsequent ones. (C)</p> Signup and view all the answers

Why is reliability particularly important in multi-item scales?

<p>It ensures that scales measure a concept consistently. (D)</p> Signup and view all the answers

What does a Cronbach's Alpha value greater than 0.9 indicate about a scale?

<p>The scale has excellent reliability. (C)</p> Signup and view all the answers

In a skewed distribution, how do the mean and median typically compare?

<p>The mean is generally different from the median. (C)</p> Signup and view all the answers

What does the Standard Deviation measure in a dataset?

<p>The extent of variation or dispersion among the values. (D)</p> Signup and view all the answers

What is the primary goal of the Six Sigma methodology?

<p>To improve processes by minimizing defects and variability. (C)</p> Signup and view all the answers

What does it mean if a scale has a reliability interpretation of 'Poor Reliability' according to Cronbach's Alpha?

<p>The scale measures concepts inconsistently. (B)</p> Signup and view all the answers

What is the primary goal of achieving a process mean that is six standard deviations apart from the nearest specification limit?

<p>To achieve extremely high quality and efficiency (A)</p> Signup and view all the answers

What does a QQ-plot fundamentally indicate when deviations from a straight line are observed?

<p>The data points do not follow the theoretical distribution (B)</p> Signup and view all the answers

What does a p-value signify in null hypothesis significance testing?

<p>The probability of obtaining a test statistic as extreme or more extreme than observed (A)</p> Signup and view all the answers

What is the significance of the alpha level in null hypothesis significance testing?

<p>It provides a threshold for determining the significance of p-values (C)</p> Signup and view all the answers

In null hypothesis significance testing, what can be said if the p-value is greater than 0.05?

<p>We fail to reject the null hypothesis (B)</p> Signup and view all the answers

What is true about the rejection of the null hypothesis in the context of NHST?

<p>The null hypothesis can only be rejected or failed to be rejected (C)</p> Signup and view all the answers

Which of the following statements correctly identifies the alternative hypothesis in NHST?

<p>It claims that the means of the outcome variable differ across levels of the predictor variable (C)</p> Signup and view all the answers

What defines a directional hypothesis compared to a null hypothesis?

<p>It specifies the direction of the effect of the predictor variable on the outcome variable (A)</p> Signup and view all the answers

Flashcards

One-Sample T-test

A statistical test that compares the mean of a sample to a known or hypothesized value.

Paired T-test

A statistical test that compares the means of two related groups (e.g., the same subjects measured at two different times).

Independent Samples T-test

A statistical test that compares the means of two independent groups.

ANOVA

A statistical test used to compare the means of two or more groups when the predictor variable has more than two levels.

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Chi-Square Test for Independence

A statistical test that examines the relationship between two categorical variables. It determines if there is a statistically significant association between the variables.

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Null Hypothesis Significance Testing (NHST)

A statistical method used to determine if there's enough evidence in data to reject a proposed idea (null hypothesis).

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Test Statistic

A measure that quantifies the agreement between the observed data and the null hypothesis.

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P-value

The probability of obtaining the observed data, assuming the null hypothesis is true.

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Alpha Level

The threshold used to decide if a result is statistically significant. A commonly used threshold is 0.05.

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Six Sigma

A statistical concept aiming for extremely high quality and efficiency with very few defects.

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QQ-Plot

A chart that visually compares data points with a theoretical distribution (e.g., normal distribution).

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Box Plot

A visual representation of data that highlights key information like median, quartiles and outliers.

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Directional Hypothesis

A hypothesis stating that the predictor variable has a specific effect on the outcome variable (e.g., increase, decrease).

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Better/Worse-Than-Average Effect

People tend to think they are better than average at easy tasks, but worse than average at difficult tasks. This happens because we often anchor our perception of our abilities to our individual performance without adequately considering the difficulty of the task.

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Diminishing Sensitivity

The value we get from successive gains decreases as we get more of something. For example, a first €100 is more valuable than an additional €100.

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Loss Aversion

People are more averse to losses than they are excited about potential gains. This means that we are more likely to take risks to avoid a loss than to gain something equivalent.

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Cronbach's Alpha

A measure of reliability that assesses the internal consistency of a scale by calculating the average correlation of all possible item pairs. Think of it as a measure of how well different parts of a questionnaire agree with each other.

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Mean

The average of a set of numbers, calculated by summing all the numbers and dividing by the total count. Think of it as the balancing point of a dataset.

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Median

The middle value in a sorted dataset. Think of it as the value that separates the dataset in half.

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Mode

The most frequent value in a dataset. Think of it as the value that occurs the most often.

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Standard Deviation

A measure of variation or spread in a set of data. Think of it as the average distance of each number from the mean.

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Study Notes

Better/Worse-Than-Average Effect

  • People generally overestimate their abilities for easy tasks, and underestimate them for harder ones.
  • This effect is related to their perceived performance level and their adjustment for task difficulty.

Diminishing Sensitivity

  • The value derived from gains decreases as the amount of gain increases.
  • The first gains are more valuable than subsequent ones.

Loss Aversion

  • People tend towards risk when trying to avoid losses.
  • This decision-making approach reflects an inclination towards risk-taking to prevent a certain loss.

Measurement of Central Tendency

  • Mean: The sum of all values divided by the total number of values.
  • Median: The middle value in a dataset when arranged in ascending or descending order, or the average of two middle values if the dataset has an even number of values.
  • Mode: The value most frequently observed in a dataset.

Standard Deviation

  • Quantifies the dispersion or variation of a dataset.

Six Sigma

  • A quality management methodology aiming for process improvement and reduced defects by minimizing variability.
  • Its goal is to create a level where the process mean falls six standard deviations apart from the closest specification limit.

Box Plots

  • Visualizations showing critical data points such as maximum value, minimum value, quartile boundaries (25%, 50%, and 75%), and outliers.

QQ-Plots

  • Plots comparing data points to theoretical distributions, revealing departures from expected distributions.

Null Hypothesis Significance Testing (NHST)

  • A statistical method for determining sufficient evidence to reject a null hypothesis.
  • Test statistics measure how closely sample data matches the null hypothesis.
  • P-values represent the probability, assuming the null hypothesis is true, of observing data as extreme or more extreme than the actual data.

t-tests

  • One-sample: Comparing a sample mean to a known value.
  • Paired: Comparing means of paired observations.
  • Independent-samples: Comparing means of two independent groups.

ANOVA

  • Comparing means across multiple groups.

Chi-Square Test for Independence

  • Testing if there are differences in proportions between groups based on categorical or ordinal variables.

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