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6 Cards in this Set
- Front
- Back
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Five types of statistical analysis used by marketing researchers |
1. Descriptive Analysis 2. Inference Analysis 3. Difference Analysis 4. Association Analysis 5. Predictive Analysis |
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Descriptive Analysis |
Summarizes basic findings for the sample Example: Describes the typical respondent, describes how similar respondents are to the typical respondentStatistical Concept: Mean, median, mode, frequency distribution, range, standard deviation |
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Inference Analysis |
Determines population parameters, tests hypotheses Example: Estimates population valuesStatistical Concept: Standard error, null hypothesis |
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Difference Analysis |
Determines if differences exist Example: Evaluates the statistical significance of difference in the means of two groups in a sampleStatistical Concept: t test of differences, analysis of variance |
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Association Analysis |
Determines connections Example: Determines if two variables are related in a systematic wayStatistical Concepts: Correlation, cross-tabulation |
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Relationship Analysis |
Finds complex relationships for the variables in the dataset Example: Determines how several independent variables are related to a key dependent variableStatistical Concepts:Multiple regression |
