IMI201H5 Lecture Notes - Lecture 7: Tim Hortons, Qualtrics, Surveymonkey
22 Nov 2020
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Reddit polls, instagram polls, forum posts, live polling (e. g. in-person on the street), talking to people you know. These are simple random samples, or strati ed random samples. Experiment: gather a sample, and randomly allocate people into a treatment group and a control group. The treatment group is exposed to the new policy, and the control group keeps the status quo. The sample should be a good representation of the market you"re interested in. Go on to surveymonkey. com and specify a sample of 100 18-35 year olds. Randomly select 50 and ask how many large coffees they would buy for 1. 50. For the remaining 50 ask how many large coffee they would buy for 1. 80. Di erence in average number of coffees bought => effect of price. Suggestion: compare coffee consumption in a market with high coffee price (yellowknife) to low price (toronto) Issue: markets might be di erent for a lot of reasons.
