BUS 115 - Chapter 12 - Descriptive Analysis PDF

Descriptive Analysis - Used by marketing researchers to describe the sample dataset in such a way as to portray the “typical” respondent and to reveal the general pattern of responses Inference Analysis - Used when marketing researchers use statistical procedures to generalize the results of the sam...

Descriptive Analysis - Used by marketing researchers to describe the sample dataset in such a way as to portray the “typical” respondent and to reveal the general pattern of responses Inference Analysis - Used when marketing researchers use statistical procedures to generalize the results of the sample to the target population it represents. Difference Analysis - Used to determine the degree to which real and generalizable differences exist in the population to help the manager make an enlightened decision on which advertising theme to use. Association Analysis - Investigates if and how two variables are related Relationship Analysis - Statistical procedures and models to help allow insight into multiple relationships among variables Understanding Data via Descriptive Analysis Two sets of measures are used extensively to describe the information obtained in a sample. –Measures of central tendency or measures that describe the “typical” respondent or response –Measures of variability or measures that describe how similar (dissimilar) respondents or responses are to (from) “typical” respondents or responses Summarizing the “Typical” Respondent Measures of central tendency: –Mode: a descriptive analysis measure defined as that value in a string of numbers that occurs most often. –Median: expresses that value whose occurrence lies in the middle of an ordered set of values. –Mean (or average): Measures of Variability: Visualizing the Diversity of Respondents - All measures of variability are concerned with depicting the “typical” difference between the values in a set of values. - There are three measures of variability: – Frequency distribution –Range –Standard deviation A frequency distribution is a tabulation of the number of times that each different value appears in a particular set of values. The frequency for each value divided by the total number of observations for all values, resulting in a percent, called a percentage distribution. Range: identifies the distance between 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 in such a way as to be translatable into a normal or bell-shaped curve distribution.