Chapter 4 Concept Challenge Quiz

How well the company is doing year after year on

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Unformatted text preview: e company is doing year after year on customer based measures. Your Answer: True Correct 17. The available market is made up of consumers who have interest, income, access, and qualifications for a market offer. Your Answer: False Correct 18. A brand development index (BDI) is the index of brand sales to category sales for a product. 8/28/2012 10:07 AM Your Results for "Concept Challenge Quiz" 4 of 4 Your Answer: True Correct 19. Econometric analysis builds sets of equations that describe a system and statistically derives parameters for use in forecasting. Your Answer: True Correct 20. The Delphi approach is a method for gathering expert opinions pertaining to sales forecasts. Your Answer: True Correct 21. Describe the differences between likert scales, semantic differential scales, and rating scales. Your Answer: Chapter 4 Likert scales require respondents to assess the extent to which they agree or disagree with some statement. Semantic differential scales use two bipolar adjectives to measure a consumer's perception about products. Rating scales require consumers to rate some attribute for a product on a scale ranging from "poor" to "excellent". 22. Discuss the difference between a probability sample and a non-probability sample. Give three examples of a probability sample and three examples off a non-probability sample. Your Answer: Chapter 4 A probability sample is a representative sample of the population and allows for the calculation of confidence limits and for sampling error. Three examples of probability samples are simple random samples, stratified random samples, and cluster (area) samples. A non-probability sample is used when the cost or time to take a probability sample is too high. They do not allow sampling error to be measured. Three examples are convenience samples, judgment samples, and quota samples. 8/28/2012 10:07 AM...
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This note was uploaded on 10/06/2013 for the course BUSI 520 taught by Professor N/a during the Fall '12 term at Liberty.

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