Basic Marketing Research with Excel

Business

Quiz 11 :

Summarizing Your Data

Quiz 11 :

Summarizing Your Data

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Describe generalization analysis and provide an example.
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Generalization analysis gives a generalized statement. it is certainly not a fact, but a consortium of hypothesis and confidence. This analysis asks for hypothesis test and confidence intervals.
The researcher conducts hypothesis tests and/or calculates confidence intervals for making a statement about the population represented by the sample.
Example:
It could be generalized that 60% voting happen in recent elections. The confidence can be shown that almost 90% youth aged between 18 and 30 years has been participative.

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When summarizing a metric variable, what is the proper measure of central tendency, and why is it the proper measure?
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The proper measure of central tendency to summarize metric variable is Average.
Average is most useful to measure central tendency in case of metric variable because it facilitates comparing characteristics of various scales. It makes similarities and differences clear and precise.

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Describe differences analysis and provide an example.
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A researcher identifies meaningful differences between variable with the help of percentage difference tests and average difference tests. This kind of analysis is known as difference analysis.
Categorical data and metric data are used in the analysis.
Example:
80% of college boys have bikes in a college and 60% of total students own a bike. An analyzer can identify how much percentage of girls own a bike.

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Describe summarization analysis and provide an example.
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A professor asks his students how many hours they studied for the last exam. He finds that the class average is 10.5 hours and the standard deviation is 1.5 hours. The minimum is 2 hours, and the maximum is 20 hours. How would you describe the typical student's study time for this professor's last exam?
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What is meant by the term central tendency ? Why is the central tendency an incomplete summarization of a variable?
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With reference to the formula, show how the standard deviation takes into account the typicality of every respondent.
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In a survey on magazine subscriptions, respondents write in the names of magazines they subscribe to regularly. What measures of central tendency can be used? Which is the most appropriate and why?
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Describe how a standard deviation is computed.
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What is data analysis?
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When summarizing a metric variable, what is the most informative measure of variability, and why is it the most informative measure?
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With regard to value of the findings, how do the four types of data analysis compare?
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What output is generated by the XL Data Analyst with the following types? a. Summarize-Average b. Summarize-Percent
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What is the relationship between a standard deviation and a normal curve?
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With regard to complexity, how do the four types of data analysis compare?
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Describe how a percentage distribution is computed.
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In a survey, Valentine's Day rose buyers are asked to indicate what color of roses they purchased for their special friends. The following table summarizes the findings. What color roses did you purchase last Valentine's Day? img Describe the central tendency and variability apparent in this analysis.
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Amanager has commissioned research on a special marketing problem. He is scheduled to brief the board of directors on the problem's resolution in video conference tomorrow morning. The research director works late that night in the downtown San Francisco headquarters and completes the summarization data analysis, which will be sufficient for the presentation. However, less than an hour before the meeting, the manager calls him for an earlymorning briefing on the survey's basic findings. The researcher looks around in his office and an idea flashes in his head. He immediately grabs a blank questionnaire. What is he about to do to facilitate the quick communication of the study's basic findings to the manager?
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When summarizing a categorical variable, what is the proper measure of central tendency, and why is it the proper measure? What is the proper measure of variability and why?
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Describe relationship analysis and provide an example.
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