MARKETING RESEARCH PART 15 ppsx

Basic Data Analysis: Descriptive Statistics Ch 15 2 Coding Data and the Data Code Book • Data entry refers to the creation of a computer file that holds the raw data taken from all of the questionnaires deemed suitable for analysis • Data coding refers to the identification of codes that pertain to the possible responses for each question on the questionnaire • Data code book identifies all of the variable names and code numbers associated with each possible response to each question that makes up the data set Ch 15 3 Ch 15 4 Types of Statistical Analyses Used in Marketing Research • Data summarization: the process of describing a data matrix by computing a small number of measures that characterize the data set Ch 15 5 Types of Statistical Analyses Used in Marketing Research • Four functions of data summarization: –Summarizes the data –Applies understandable conceptualizations –Communicates underlying patterns –Generalizes sample findings to the population Ch 15 6 Why is Statistical Analysis Used? • Why Use Statistical Analysis? –To summarize data • The average price of a Gateway PC is $2,489 • The low is $999, and the high is $4,678: this is the range • The mode is $2,200 Ch 15 7 Why is Statistical Analysis Used? • Why Use Statistical Analysis? –To show basic patterns in the data • 30% buys at $1,500 or less • 50% buys at between $2,500 and $1,500 • 20% buys at $2,500 or more Ch 15 8 Why is Statistical Analysis Used? • Why Use Statistical Analysis? –To interpret these patterns • The majority of Gateway buyers pay $2,500 or less Ch 15 9 Why is Statistical Analysis Used? • Why Use Statistical Analysis? –To generalize the patterns to the population • 95% of all Gateway buyers pay between $2,000 and $3,000 for their PC’s Ch 15 10 Types of Statistical Analyses Used in Marketing Research • Statistical Analysis: [...]...Types of Statistical Analyses Used in Marketing Research • Ch 15 Five Types of Statistical Analysis: 1 Descriptive analysis: used to describe the data set 2 Inferential analysis: used to generate conclusions about the population’s characteristics based on the sample data 11 Types of Statistical Analyses Used in Marketing Research 3 Differences analysis: used to compare the mean... that of another group 4 Associative analysis: determines the strength and direction of relationships between two or more variables Ch 15 12 Types of Statistical Analyses Used in Marketing Research 5 Predictive analysis: allows one to make forecasts for future events Ch 15 13 Understanding Data Via Descriptive Analysis • Two sets of descriptive measures: – Measures of central tendency: used to report... of numbers – Standard deviation indicates the degree of variation in a way that can be translated into a bell-shaped curve distribution Ch 15 16 Understanding Data Via Descriptive Analysis • Measures of Variability: Ch 15 17 When to Use a Particular Statistic Ch 15 18 ... the values in a set of values Ch 15 14 Understanding Data Via Descriptive Analysis • Measures of Central Tendency: – Mode: the value in a string of numbers that occurs most often – Median: the value whose occurrence lies in the middle of a set of ordered values – Mean: sometimes referred to as the “arithmetic mean”; the average value characterizing a set of numbers Ch 15 15 Understanding Data Via Descriptive . $3,000 for their PC’s Ch 15 10 Types of Statistical Analyses Used in Marketing Research • Statistical Analysis: Ch 15 11 Types of Statistical Analyses Used in Marketing Research • Five Types of. possible response to each question that makes up the data set Ch 15 3 Ch 15 4 Types of Statistical Analyses Used in Marketing Research • Data summarization: the process of describing a data. two or more variables Ch 15 13 Types of Statistical Analyses Used in Marketing Research 5. Predictive analysis: allows one to make forecasts for future events Ch 15 14 Understanding Data Via