Market Research 4-2-12 - Market Research 4-2-12 Inferential...

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Market Research 4-2-12 Inferential Analysis- given our sample of data our goal is to see if this sample of data can be taught to come from a particular distribution. You don’t need to worry about every type of distribution instead focus on a null hypothesis distribution. Population Distribution- average value (µ), variance, shape of the distribution----- sample distribution Sampling distribution of the mean (looks like a normal curve) the average is the same as the population distribution. Inferential analysis- types of errors Type 1 and 2 errors in the judicial process In reality the defendant is innocent In reality the defendant is guilty The judicial process finds the defendant innocent Confidence (1-α) Type 2 error (β) The judicial process finds the defendant guilty Type 1 error (α) Power (1-β) Good α level is .05 I tail test is more powerful than a 2 tail test. Issues realted to H0 to Ha Status quo is always represented by Should we introduce a new product/service? Satus quo is not introducing the new product
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This note was uploaded on 04/09/2012 for the course MAR 3613 taught by Professor Reynolds,k during the Fall '08 term at University of Central Florida.

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Market Research 4-2-12 - Market Research 4-2-12 Inferential...

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