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101 Cards in this Set
- Front
- Back
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Frequency Distribution
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When one variable is considered at a time
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Measures of Location
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Mean, Mode, Median
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Mean
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the average value
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Mode
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the value that occurs most frequently
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Median
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the middle value when the data are arranged in ascending order
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Measures of Variability
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Range, Variance, Standard Deviation, Coefficient of Variation
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Range
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measures the spread of data
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Variance
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the mean squared deviation from the mean (can never be negative)
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Standard Deviation
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the square root of the variance
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Coefficient of Variation
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the ratio of the standard deviation to the mean expressed as a percentage (is a unitless measure of relative variability)
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Measures of Shape
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Skewness, Kurtosis
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Skewness
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tendency of the deviations from the mean to be larger in one direction than the other
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Kurtosis
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measure of the relative peakedness or flatness of the frequency distribution curve
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what is the kurtosis of a normal distribution?
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zero
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If kurtosis > 0, then
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the distribution is more peaked than normal distribution
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If kurtosis < 0, then
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the distribution is flatter than a normal distribution
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Cross-Tabulation
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describes two or more variables simultaneously
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H(0)
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Null Hypothesis: there is no association between the two variables
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when will H(0) be rejected
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when the calculated values of the test statistic are greater than the critical value of the chi-square distribution
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f(e)
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expected frequency
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n(r)
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total number in a row
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n(c)
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total number in a column
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n
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total sample size
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Phi Coefficient
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used as a measure of the strength of association in the special case a 2x2 table
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(T/F) Phi Coefficient is proportional to the square of the chi-square static
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True
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What is the value of phi when there is no association between variables
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zero
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what is the value of phi when there is perfect association between variables
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one
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Bases of Competition
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Customer oriented; marketing oriented; resource oriented; geographic
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Levels of Competition
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product form; product category; generic; budget
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methods for determining competition
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existing categories; technical feasibility of substitution; managerial judgment; customer behavior based; customer judgment based
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Examples of customer behavior based method of determining competition
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Brand switching matrix; inter-purchase times; cross elasticity of demand
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Examples of customer judgment based methods of determining competition
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overall similarity; similarity of consideration sets; product deletion; substitution in use
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How do you identify a competitor
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By identifying substitutes
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Products whose cross-price elasticities of demand and are positive
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Substitutes
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Is there a distinction between direct and indirect compeitors
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yes
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(T/F)Similar products in different geographic markets are always substitutes
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False: they may not always be substitutes because of the distance
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___ Describes the market in which a firm competes
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Market Definition
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Are two firms in the same market if they constrain each others ability to raise price
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Yes
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Market Structure
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the number and distribution of firms in a market
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Common measures of market structure
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N-Firm and Herfindahl index
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Describe perfect competition
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many sellers present; homogenous products; well-informed consumers can costlessly shop around
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Monopoly
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no competition for output
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Monopolistic Competition
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many sellers; each sells a differentiated product
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Oligopoly
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few sellers; so the actions of one firm materially affects the others
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Porter's Five Forces to assess industry attractiveness
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Threat of new entrants, bargaining power of suppliers, threat of substitutes products, rivalry among existing industry firms, bargaining power of buyers
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Process of Data Analysis
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Observation; (Encode); Data; (Analysis); Information
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What encompasses the Center of Data
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Mean; Median; Mode
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Forms of Variation
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Difference about the mean; Absolute difference; Total sum of squares; Variance; Standard deviation
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What is the Standard Error
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Standard deviation of sample means
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What is the basic premise for confidence intervals
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95% of the time the true mean purchase amount lies between +/- 1.96 standard errors from the mean of the sample means
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A ____ for a variable produces a table of counts, percentages and cumulative percentages for all the values associated with that variable
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Frequency Distribution
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Measures of Variability
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Range; Variance; Standard Deviation; Coefficient of Variation
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Range
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measures the spread of data
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Variance
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the mean squared deviation from the mean (can never be negative)
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Standard Deviation
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the square root of the variance
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Coefficient of Variation
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the ratio of the standard deviation to the mean expressed as a percentage (is a unitless measure of relative variability)
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Measures of Shape
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Skewness and Kurtosis
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Skewness
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tendency of the deviations from the measure to be larger in one direction than in the other
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Kurtosis
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measure of the relative peakedness/flatness of the frequency distribution curve
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the kurtosis of a normal distribution is ___
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0
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If kurtosis > 0, then the distribution is more ___ than normal distribution
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peaked
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If kurtosis < 0, then the distribution is more ___ than normal distribution
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flat
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_____ Describes two or more variables at a time
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Cross-Tabulation
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what is the general rule when computing percentages in a cross-tabulation scenario
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compute the percentages in the direction of the independent variable, across the dependent variable
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Null Hypothesis N(0)
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there is no association between the two variables
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When will the null hypothesis N(0) be rejected
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when the calculated value of the test statistic is greater than the critical value of the chi-square distribution
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____ compares the observed cell frequencies to the frequencies to be expected when there is no association between the variables
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Chi-Square
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____ used as a measure of the strength of association in the special case
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Phi Coefficient
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(T/F) the phi coefficient is not equal to the square root of the chi-square statistic
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False: phi coefficient = sqr rt of chi-statistic
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____ is used to assess the strength of association in a table of any size
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Contingency Coefficient
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the contingency coefficient varies between ____
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0 and 1
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____ is used in square tables where the number of rows and columns are equal
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Tau b
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____ is best used for rectangular tables in which the number of rows is different than the number of columns
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Tau c
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____ does not make an adjustment for either ties or table size
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Gamma
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(T/F) Gamma varies between +1 and -1 and generally has a higher numerical value than tau b or tau c
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True
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What is the first step when conducting cross-tabulation analysis
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Test the null hypothesis; if you fail to reject the null hypothesis, there is no relationship
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What happens in the cross-tabulation process if, after testing, the null hypothesis is rejected
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(1) determine the strength of the association using the appropriate statistic (phi-coefficient, contingency coefficient, Cramer's lambda coefficient or other)then
(2) interpret the pattern of the relationship by computing percentages in the direction of the independent variable across the dependent variable |
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Steps for Hypothesis Testing
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(1) Formulate H(0) and H(1)
(2) Select appropriate test (3) Choose level of significance (4) Calculate test statistic (5) Reject/do not reject H(0) (6) Draw marketing research conclusion |
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Null Hypothesis
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statement of the status quo, one of no difference or no effect
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(T/F) If the null hypothesis is rejected, no changes will be made
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False: if the null hypothesis is not rejected, no changes will be made
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Alternative Hypothesis
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one in which some difference or effect is expected
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The null hypothesis is a ____ because the alternative hypothesis is expressed directionally
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One-Tailed Test
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The null hypothesis is a ____ because the alternate hypothesis is expressed in both directions (i.e. equal to vs. not equal to)
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Two-Tailed Test
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____ measures how close the sample has come to the null hypothesis
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Test Statistic
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Type I Error
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Occurs when the null hypothesis is rejected when it is actually true
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The probability of a Type I Error (alpha) is also called the ____
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Level of Significance
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Type II Error
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Occurs if the null hypothesis is not rejected when it is in fact false
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The probability of a Type II Error is denoted by ____
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Beta
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T/F Unlike alpha, the magnitude of beta depends on the actual value of the population parameter
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TRUE
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____ the probability of rejecting the null hypothesis when it is false and should be rejected
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Power of a Test
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Explain the relationship between alpha and beta
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An extremely low value of alpha (ex: = 0.0001), will result in an intolerably high beta error
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Is it necessary to balance alpha and beta
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Yes
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(T/F) If the probability associated with the calculated value of the test statistic is more than the level of significance (alpha), the null hypothesis is rejected
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FALSE: if the probability . . . test statistic is less than the level of significance . . . is rejected
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If the calculated value of the test statistic is ____ than the critical value of the test statistic, the null hypothesis is rejected
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Greater
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2 Types of Hypothesis Tests
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Parametric Tests (Metric) and Non-Parametric Tests (Non-metric)
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2 Types of Parametric Tests
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Ones Sample (t tests and Z tests) and Two or more Samples
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Types of samples within parametric tests that contain two or more samples
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Independent Samples and Paired Samples
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Types of Independent Samples
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Two-Group t test and Z test
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Types of Paired Samples
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Paired t test
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(T/F) The t-distribution is similar to the normal distribution curve (bell-shaped and symmetric)
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TRUE
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The ____ test is performed if it is not known whether the two populations have equal variances
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F-Test
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