MKT 302 Lecture Notes - Lecture 1: Contingency Table, Statistical Significance, Statistical Inference
6 Sep 2016
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Increasing use of quantitative approach by science and business. More data collected, processed, and disseminated to public. Inferential statistics: predict markets share of a product not yet introduced in the market. Do not share properties of numbers. male/female, married/single. Ordinal: setting up inequalities is permitted. educational background. Interval: comparison are permitted but cannot multiply or divide. Difference between 1-3 is the same as 81-83. Ratio: can form quotients, comparison of absolute magnitudes. weight. Relative position with temperature you cannot say that. 80 degrees is twice as hot as 40 because there is no absolute 0. Measures and gives us the same answer each time. Cross tabulation: examination of the responses to one question relative to the responses to one or more questions in a survey set. Descriptive statistics: effective means of summarizing large sets of data. Mathematical differences: if numbers are not the same they are different. Does not mean that the difference is important or statistical significant.
