Basic Marketing Research with Excel

Business

Quiz 13 :

Finding Differences

Quiz 13 :

Finding Differences

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Ashoe manufacturer suspects there are six market segments that it can use effectively in its target marketing: toddlers, middle-school children, high school students, young and active adults, professionals, and senior citizens. How many pairs of averages can be assessed for significant differences? Specify each separate pair.
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What is the null hypothesis and what is the alternative hypothesis for a differences test?
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Null hypothesis:
The null hypothesis shows that the effect of comparison difference is zero. The test gives the accurate variation between the two groups of companies.
If the comparison result is zero, then zero difference in the two groups of companies is obtained.
Similarly, the standard error of the variance is also zero.
Alternative hypothesis:
The alternative hypothesis shows that the effect of comparison differences is the percentage or the average values.
Similarly, the standard error of the differences is also having values in the base of Categorical scale or Metric scale.
Therefore, the process of null and alternative hypothesis for different tests is explained.

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What are the three ways a researcher can investigate for differences?
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Different ways to investigate and find the difference between the companies:
The marketing researcher makes different ways to investigate about the company to find the differences.
Three ways to find the differences are,
(i) Compare the group of similar companies with other groups.
During this investigation, the customers are the key persons for this analysis. The comparison is done between the customers of two different groups of companies.
(ii) Compare three or more groups.
The analysis of various groups of customers in a company is compared with similar groups of customers who are working with other organizations.
(iii) Compare the service of the company to another company.
The quality-based comparison is an important aspect. The service provider company is compared with other service provider company based on the services.
These are the three different ways to investigate and find the difference between the companies.

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What is ANOVA, and when is it used? Why is it termed efficient?
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The Daily Advocate Lost Subscribers Survey The Daily Advocate is a newspaper serving the Capital City area, which accounts for about 350,000 households. The Daily Advocate has been the dominant daily newspaper in the area for the past fifty years. At one time, it was estimated that nine of ten Capital City-area households subscribed or otherwise bought the Daily Advocate. In the past decade, Capital City has undergone a growth spurt due primarily to three high-technology industrial "parks" where a great many Internet, computer equipment, and biotechnology companies have located. However, the circulation of the Daily Advocate did not experience a corresponding spurt; in fact, the circulation peaked in 1998, and it has been slowly declining ever since. It is now estimated that only seven of ten Capital City-area households subscribe to the Daily Advocate. The circulation manager of the Daily Advocate commissions a market research study to determine what factors underlie the circulation attrition. Specifically, the survey is designed to compare current Daily Advocate subscribers with those who have dropped their subscriptions in the past year. A telephone survey is conducted with both sets of individuals. Following is a summary of the key findings-using a 95% level of confidence-from the study. img Why has the Daily Advocate 's circulation fallen in the face of a population boom in Capital City?
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A marketing manager of a Web-based catalog sales company uses a segmentation scheme based on the incomes of target customers. The segmentation system has four segments: (1) low income, (2) moderate income, (3) high income, and (4) wealthy. The company database holds information on every customer's purchases over the past several years, and the total dollars spent is one of the prominent variables. The marketing manager finds that the average total dollar purchases for the four groups are as follows: img Construct a table that is based on how the XL Data Analyst presents its findings for ANOVA that illustrates that the low-and moderate-income groups are not different from each other, but the other groups are significantly different from one another.
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What are differences and why should marketing researchers be concerned with them?
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Demonstrate your understanding of your work in question 11 by drawing the sampling distributions of each case-a, b, and c-in the format presented in Figure is on page 296. FIGURE Comparison of Women and Men Online Renters Sampling Distributions for "Action Adventure" DVDs img
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Why does the nature of the scale (categorical or metric) being used matter when performing a differences test?
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When a standard error of a difference (between percentages or averages) is computed, what two factors are taken into account, and how does each affect the size of the standard error?
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Your Integrated Case The Advanced Automobile Concepts Survey Differences Analysis Cory Rogers called a meeting with Nick Thomas, and Celeste Brown attended it. At the beginning of the meeting, Rogers's wife called with news that their five-year-old daughter was having a stomachache at school, and he was to pick her up and take her to the doctor. Rogers excused himself, saying, "I am sorry about this, but these things happen when you are a dual-career household. Celeste, sit with Nick for a bit and find out what questions he has about the survey findings. Then take a shot at the analysis, and we'll meet about it tomorrow afternoon. I am sure that Cory Junior will be over his stomach ailment by then." After meeting for about twenty minutes, Brown understood that the Advanced Automobile Concepts division principals were encouraged by the findings of the survey which indicate that there is substantial demand for the various types of high-mileage hybrid automobiles under consideration. Depending on development costs, prices, and other financial considerations, it seems that any one or a combination of the hybrid automobiles could be viable. The next step in their planning is to identify the target market for each hybrid automobile type under consideration. This step is crucial to market strategy as it is known that the more precise the target market definition is, the more specific and pinpointed will be the marketing strategy. For a first cut at the market segment descriptions, the survey included the following commonly used demographic factors. ? Gender ? Marital status ? Age category ? Education category ? Income category ? Home town size category While the survey measured the likelihood of buying each hybrid type, Brown learned that Thomas considers preferences to be a better measure, because the hybrid model descriptions included seat size, mpg estimates, and styling notions. Your task is to apply appropriate differences analysis to your AAConcepts XL Data Analyst data set to determine the target market descriptions for each of the five possible hybrid models. Runabout sport two-seat model; 90 mpg city, 120 mpg highway
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Your Integrated Case The Advanced Automobile Concepts Survey Differences Analysis Cory Rogers called a meeting with Nick Thomas, and Celeste Brown attended it. At the beginning of the meeting, Rogers's wife called with news that their five-year-old daughter was having a stomachache at school, and he was to pick her up and take her to the doctor. Rogers excused himself, saying, "I am sorry about this, but these things happen when you are a dual-career household. Celeste, sit with Nick for a bit and find out what questions he has about the survey findings. Then take a shot at the analysis, and we'll meet about it tomorrow afternoon. I am sure that Cory Junior will be over his stomach ailment by then." After meeting for about twenty minutes, Brown understood that the Advanced Automobile Concepts division principals were encouraged by the findings of the survey which indicate that there is substantial demand for the various types of high-mileage hybrid automobiles under consideration. Depending on development costs, prices, and other financial considerations, it seems that any one or a combination of the hybrid automobiles could be viable. The next step in their planning is to identify the target market for each hybrid automobile type under consideration. This step is crucial to market strategy as it is known that the more precise the target market definition is, the more specific and pinpointed will be the marketing strategy. For a first cut at the market segment descriptions, the survey included the following commonly used demographic factors. ? Gender ? Marital status ? Age category ? Education category ? Income category ? Home town size category While the survey measured the likelihood of buying each hybrid type, Brown learned that Thomas considers preferences to be a better measure, because the hybrid model descriptions included seat size, mpg estimates, and styling notions. Your task is to apply appropriate differences analysis to your AAConcepts XL Data Analyst data set to determine the target market descriptions for each of the five possible hybrid models. Super cycle one-seat model; 120+ mpg city
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Your Integrated Case The Advanced Automobile Concepts Survey Differences Analysis Cory Rogers called a meeting with Nick Thomas, and Celeste Brown attended it. At the beginning of the meeting, Rogers's wife called with news that their five-year-old daughter was having a stomachache at school, and he was to pick her up and take her to the doctor. Rogers excused himself, saying, "I am sorry about this, but these things happen when you are a dual-career household. Celeste, sit with Nick for a bit and find out what questions he has about the survey findings. Then take a shot at the analysis, and we'll meet about it tomorrow afternoon. I am sure that Cory Junior will be over his stomach ailment by then." After meeting for about twenty minutes, Brown understood that the Advanced Automobile Concepts division principals were encouraged by the findings of the survey which indicate that there is substantial demand for the various types of high-mileage hybrid automobiles under consideration. Depending on development costs, prices, and other financial considerations, it seems that any one or a combination of the hybrid automobiles could be viable. The next step in their planning is to identify the target market for each hybrid automobile type under consideration. This step is crucial to market strategy as it is known that the more precise the target market definition is, the more specific and pinpointed will be the marketing strategy. For a first cut at the market segment descriptions, the survey included the following commonly used demographic factors. ? Gender ? Marital status ? Age category ? Education category ? Income category ? Home town size category While the survey measured the likelihood of buying each hybrid type, Brown learned that Thomas considers preferences to be a better measure, because the hybrid model descriptions included seat size, mpg estimates, and styling notions. Your task is to apply appropriate differences analysis to your AAConcepts XL Data Analyst data set to determine the target market descriptions for each of the five possible hybrid models. Runabout with luggage two-seat model; 80 mpg city, 110 mpg highway
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The Daily Advocate Lost Subscribers Survey The Daily Advocate is a newspaper serving the Capital City area, which accounts for about 350,000 households. The Daily Advocate has been the dominant daily newspaper in the area for the past fifty years. At one time, it was estimated that nine of ten Capital City-area households subscribed or otherwise bought the Daily Advocate. In the past decade, Capital City has undergone a growth spurt due primarily to three high-technology industrial "parks" where a great many Internet, computer equipment, and biotechnology companies have located. However, the circulation of the Daily Advocate did not experience a corresponding spurt; in fact, the circulation peaked in 1998, and it has been slowly declining ever since. It is now estimated that only seven of ten Capital City-area households subscribe to the Daily Advocate. The circulation manager of the Daily Advocate commissions a market research study to determine what factors underlie the circulation attrition. Specifically, the survey is designed to compare current Daily Advocate subscribers with those who have dropped their subscriptions in the past year. A telephone survey is conducted with both sets of individuals. Following is a summary of the key findings-using a 95% level of confidence-from the study. img What marketing strategies should the Daily Advocate consider in order to sustain itself as the primary news vehicle in Capital City?
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Describe how a directional hypothesis about the difference between two percentages or two averages is tested.
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When the percentages or the averages of two groups are compared, what is the nature of the comparison operation?
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A researcher is investigating different types of customers for a sporting goods store. In a survey, respondents have indicated how much they exercise in approximate minutes per week. These respondents have also rated the performance of the sporting goods store across twelve difference characteristics such as good value for the price, convenience of location, and helpfulness of the sales clerks. The researcher used a 7-point rating scale for these twelve characteristics, where 1 = poor performance and 7 = excellent performance. How can the researcher investigate differences in the ratings based on the amount of exercise reported by the respondents?
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Are the following two sample results significantly different? img
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What is the null hypothesis in ANOVA?
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How is a test of the difference between the averages of two variables different from a test of the difference between the averages of two groups with the same variable? How is it similar?
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