QMB-210 Lecture Notes - Lecture 11: Diet Pepsi, Focus Group, Descriptive Statistics

• School: University of Tampa
• Department: Quantitative Methods in Business
• Course: QMB-210
• Professor: Shaista Nisar

Document Summary

#1 examples: apple would like to measure the satisfaction levels of customers who purchased its new ipad product = primary/ survey, pepsi would like to determine if customers prefer the taste of diet pepsi to diet coke = Have all the same properties with the added feature that we can rank the values from highest to lowest. Allows us to measure the differences between categories with actual numbers in a meaningful way. Multipli(cid:272)atio(cid:374) a(cid:374)d di(cid:448)isio(cid:374) (cid:272)a(cid:374)(cid:859)t (cid:271)e perfor(cid:373)ed i(cid:374) this data. 100 degrees is not twice as hot as 50 degrees. You (cid:272)a(cid:374)(cid:859)t (cid:271)ake a (cid:272)ake o(cid:374) dou(cid:271)le the te(cid:373)perature a(cid:374)d fi(cid:374)ish it i(cid:374) half the time. It does not have a true zero point. This zero-data value indicates the absence of the object. This is not true in this case e. g. if it is 0 degrees outside, there is no absence of weather: ratio. This data has the added benefit of having a true zero point.