Mkt 202 Presentation - Two Categories of Statisics

Mkt 202 Presentation - Two Categories of Statisics - TWO...

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Unformatted text preview: TWO CATEGORIES TWO CATEGORIES OF STATISTICS 1. DESCRIPTIVE STATISTICS 2. INFERENTIAL STATISTICS DESCRIPTIVE STATISTICS DESCRIPTIVE STATISTICS REPORTS OBSERVATIONS DESCRIBES BEHAVIOR/ATTRIBUTES/ ATTITUDES INFERENTIAL STATISTICS INFERENTIAL STATISTICS PREDICTIONS ABOUT POPULATION* BASED ON SAMPLE **DATA *GREEK LETTERS DENOTE PARAMETERS **ENGLISH LETTERS DENOTE STATISTICS TWO TYPES OF VARIABLES TWO TYPES OF VARIABLES 1. INDEPENDENT 2. DEPENDENT INDEPENDENT VARIABLES INDEPENDENT VARIABLES MANIPULATED BY RESEARCHER EXAMPLE: AMOUNT SPENT ON BRAND’S ADVERTISING $ $$ $$$ DEPENDENT VARIABLES DEPENDENT VARIABLES RESPONSE VARIABLE MEASURES CHANGES CAUSED BY INDEPENDENT VARIABLE(S) EXAMPLE: AWARENESS OF BRAND UNDER THREE DIFFERENT ADVERTISING SPENDING LEVELS HOW MANY OF YOU HAVE A PET? …A DOG? …A CAT? …A BIRD? … FISH? …OTHER PETS? IS THIS DATA DESCRIPTIVE OR INFERENTIAL? FOUR TYPES OF FOUR TYPES OF MEASUREMENT NOMINAL ORDINAL INTERVAL RATIO NOMINAL NOMINAL NUMBERS OR LETTERS IDENTIFIES OR CLASSIFIES DIFFERENTIATES OBJECTS ORDINAL ORDINAL ARRANGES OBJECTS ACCORDING TO MAGNITUDE ORDERED MORE THAN/ LESS THAN INTERVAL INTERVAL EQUAL INTERVALS BETWEEN OBJECTS SPECIFIES DIFFERENCE BETWEEN OBJECTS RATIO RATIO ABSOLUTE ZERO ABSENCE OF QUANTITY/ATTRIBUTE ABSOLUTE RATHER THAN RELATIVE QUANTITIES NOMINAL: cats vs. dogs ORDINAL: full professor, assistant professor, instructor INTERVAL: Fahrenheit scale RATIO: a grade of zero on a test; john took two hours and Jim took one hour to complete the test EXAMPLES OF DATA EXAMPLES OF DATA SCALES STATISTICS FOR DATA SCALES STATISTICS FOR DATA SCALES Scales Operation Statistics Nominal counting frequency table: percentage Ordinal rank ordering rank order; median Interval preserves order; arithmetic mean and relative standard deviation magnitude Ratio arithmetic on geometric mean TYPES OF DATA TYPES OF DATA 1. Continuous 2. Discrete FREQUENCY DISTRIBUTIONS FREQUENCY DISTRIBUTIONS SIMPLE GROUPED FREQUENCY DISTRIBUTIONS FREQUENCY DISTRIBUTIONS TRADITIONAL STEM AND LEAF HISTOGRAMS/BAR GRAPHS FREQUENCY POLYGONS/LINE GRAPHS PRECENTAGE DISTRIBUTION GRAPHICAL DATA DISPLAYS GRAPHICAL DATA DISPLAYS BAR GRAPHS LINE GRAPHS PIE CHARTS FIGURES/OBJECTS SKEWNESS SKEWNESS TAIL POINTS LEFT: NEGATIVE SKEW TAIL POINTS RIGHT:POSITIVE SKEW KURTOSIS KURTOSIS LEPTOKURTIC MESOKURTIC PLATYKURTIC J­CURVE MEASURES OF CENTRAL MEASURES OF CENTRAL TENDENCY MEAN:ARITHMETIC AVERAGE MEDIAN: MIDPOINT OF FREQUENCY DISTRIBUTION MODE:THE HIGH POINT OF THE FREQUENCY DISTRIBUTION; VALUE WHICH OCCURS MOST OFTEN =(N+1)/2 BIMODAL: TWO MODES PROBABILITY PROBABILITY P=#WAYS AN EVENT CAN OCCUR # EVENTS POSSIBLE PROBABILITY PROBABILITY ADDITIVE RULE: “OR” RULE 1/2+1/2=1 MULTIPLICATIVE RULE: “AND” RULE 1/2 *1/2=1/4 ODDS ODDS NOT PROBABILITY PARTITIONS EVENTS FREQUENCY OF OCCURRENCE VS. NON­OCCURRENCE 12:1 =WON 12 VS. LOST 1 ...
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