Consumer Behavior Spring 2017
Study Guide Exam 1
What would we call a group that exists to share information about a product or brand, like Gibson guitars?
o Consumption Communities: Members share opinions and recommendations about any given topic. Form
1. Building a Balance Sheet. Kroeger, Inc., has current assets of $1,970, net fixed assets
of $9,650, current liabilities of $1,520, and long-term debt of $4,370. What is the value of
the shareholders' equity account for this firm? How much is net working
Microsoft Excel 15.0 Answer Report
Report Created: 10/28/2015 4:46:58 PM
Result: Solver found a solution. All Constraints and optimality conditions are satisfied.
Objective Cell (Max)
$B$6 Objective funtion = 40*x1+30*x2
The Problem Definition Process
1. Recognize the problem or opportunity
Can the problem become opportunity?
2. Find out why the information is being sought
Any suspect motives?
3. Understand the decision making environment
Examine cultural &
Overview of the Data Analysis Procedure
Clean the Data: Check for data entry errors or data entry inconsistencies.
Logical or Machine Cleaning: Final computerized error check of data.
Error Check Routines: Computer programs t
Going through each question to ensure that skip
patterns were followed and the required questions
were filled out.
Key Terms & Definitions
The Role of the Questionnaire
Sequence in which questions are asked,
Important Differences for Managers:
One must be able to distinguish between mathematical
differences and statistically significant differences in using
the data analysis in managerial decision making.
A statistical relationship between variables
Appropriate Time Order of Occurrence:
Change in an independent variable occurred before an observed
change in the dependent variable
General Limitations of Qualitative Research
1. Attitudinal, perceptual, and belief differences revealed during
qualitative research might not be easily measured. Quantitative
research will more precisely measure these differences.
Survey Research Error
Random Error or Random Sampling Error:
Error that results from chance variation.
The difference between the sample value
and the true value of the population mean.
Systematic Error or B
Levels of Measurement
Scales that partition data into mutually exclusive and collectively
Scales that maintain the labeling characteristics of nominal scales and
have the ability to order data.
Graphic plot of the data with dependent variable on the Y
(vertical) axis and the independent variable on the X (horizontal)
axis. Shows the nature of the relationship between the two
variables, linear or
What are Scales For?
Procedures for assigning numbers (or other
symbols) to properties of an object in order
to impart some numerical characteristics to
the properties in question.
Measures only one attribute of a
Advantages of Secondary Data
Might provide a solution to a research problem
Might provide primary data research alternatives
Can alert the researcher to other problems
Provides background information enhancing research credibility
Online Secondary Data Resources
An Internet site where people can read and post
messages devoted to a specific topic.
When finding a particular newsgroup:
1. Connect to the internet in your usual way.
2. Open your newsreader progr