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week 1 notes

by: odette antabi

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week 1 notes mkt302

odette antabi
UM
GPA 3.6

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complete notes of week 1
COURSE
Marketing Research
PROF.
Tsiros
TYPE
Class Notes
PAGES
2
WORDS
CONCEPTS
MKT302, class1, class2, week, 1, notes, UM
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This 2 page Class Notes was uploaded by odette antabi on Sunday September 4, 2016. The Class Notes belongs to mkt302 at University of Miami taught by Tsiros in Fall 2016. Since its upload, it has received 9 views. For similar materials see Marketing Research in Marketing at University of Miami.

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Date Created: 09/04/16
MKT 302 Review of basic statistics Why use statistics  Increasing use of quantitative approach by science and business  More data collected, processed, and disseminated to public Descriptive statistics: present/summarize data Inferential statistics: predict markets share of a product not yet introduced in the market Nature of statistical data  Nominal: categorical data. Numerical in name only. Do not share properties of numbers. male/female, married/single. Data is different.  Ordinal: setting up inequalities is permitted. educational background. Information has a natural order  Interval: comparison are permitted but cannot multiply or divide. Temperature. The difference between categories is the same. Difference between 1-3 is the same as 81-83  Ratio: can form quotients, comparison of absolute magnitudes. weight. There is an absolute cero. Relative position with temperature you cannot say that 80 degrees is twice as hot as 40 because there is no absolute 0 Types of means:  Arithmetic mean  Geometric mean  Harmonic mean Measures of central tendency  Mean  Median  Mode Reliability: consistency. Measures and gives us the same answer each time. Validity: accurate Cross tabulation: examination of the responses to one question relative to the responses to one or more questions in a survey set Descriptive statistics: effective means of summarizing large sets of data Evaluating differences and changes:  Mathematical differences: if numbers are not the same they are different. Does not mean that the difference is important or statistical significant  Statistical significance: if a particular difference is large enough to be unlikely to have occurred because of the chance or sampling error, then the difference is statistically significant  Managerially important diffrences: we ,ust be able to distinguish between mathematically significant diffrences and statistical significant difference using the data nalyisi in managerial decision making  Hypothesis: an assumption, argument or theory that a researcher or manager makes about some characteristic of population under study Which analysis to perform? Depending on both variables that ypu are going to anlyze

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