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CONCEPT | DEFINITION | APPLICATION | Content Terms from Review of Literature | | | 1. Validity | This is the ability of a measuring device or test to measure what is supposed to measure (Kothari, 2011). | Different companies undertake market surveys to assess the consumer’s preference over their products in comparison to their competitors. A marketing report is considered valid if an independent marketer can determine that the report measures the client preference of the company. | 2. Reliability | Reliability is the capacity of a given test or instrument to produce consistent observations (Kothari, 2011). This means that similar outcomes must be observed when conducted by different researchers. | In many universities, students are given questionnaires by the administration to assess the effectiveness of their instructors. If a particular teacher is portrayed as inefficient by two or more classes, it can be said that the questionnaire is reliable in measuring the effectiveness of that lecturer. On the other hand, if the results from different classes are inconsistent, then the method is unreliable. | 3. Sample | A sample refers to a small group of items, individuals, or events taken from a larger one to assist in analyzing the later part. For a sample to be useful in assessing the population, its size should be large and collected in a random manner. | Before any medical innovation can be endorsed, pharmaceuticals have to conduct sampling. This happens when such companies test the medicine on animals or individuals before they can reveal that the treatment is effective in the treatment (Kumar & Phrommathed, 2005). | 4. Correlation | Correlation refers to a geometric measure that portrays the relationship between two variables (Kumar & Phrommathed, 2005). The connection between two variables can be

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