...“Inferential Statistics, Hypothesis Testing” Marketing Research MAHFOUD SOUKAINA Supervised by: Dr. Kim Chung Friday, April 16th, 2010 TABLE OF CONTENTS I. Introduction: Marketing Research 4 1) Marketing Research 4 2) The Marketing Research process 4 II- Body 1: Litterature Review 6 1) Inferential Statistics 6 a) Dummy Variables 7 b) Experimental Analysis 7 2) Normal Distribution 8 Figure 1: A normal Distribution, bell-shaped curve 9 3) Skewness 9 4) The Kurtosis 9 5) Formula of Kurtosis and Skewness over their Standard error 10 6) Central Limit Theorem 10 7) T Test Hypothesis testing for one sample mean 11 a) State the Null and Alternative Hypothesis 11 b) Hypothesis of the Testing 11 c )Choosing the Level of Significance 12 d) Calculate the test statistic for One Sample Mean 13 8) Independent Samples t-Test 13 a) Stating the Null and Alternative Hypothesis 14 b) Assumptions of the Testing 14 c) Choosing the Level of Significance 15 d) Calculate the test statistic for independent samples 15 e) Interpreting the Results 16 9) Risks in Decision Making Using Hypothesis Testing 17 10) The β Risk 17 III- Body II: Application 1: One Sample Testing 18 1) The Research Topic 18 2) Decriptives for the Students Sample 18 a) Range, Mean, Standard Deviation 18 b) Variance, Skewness, Kurtosis 19 c) Histogram of the Student Sample 19 3) Hypothesis of the independent sample...
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...Unit 2 – Probability and Distributions Michelle Hartman American InterContinental University Abstract This is a single paragraph, no indentation is required. The next page will be an abstract; “a brief, comprehensive summary of the contents of the article; it allows the readers to survey the contents of an article quickly” (Publication Manual, 2010). The length of this abstract should be 35-50 words (2-3 sentences). NOTE: the abstract must be on page 2 and the body of the paper will begin on page 3. Memo To: American Intellectual Union From: Michelle Hartman Date: January 13, 2013 Subject: Data Set Dear American Intellectuel Union: Provide a brief introduction (2-3 sentences) to the email you are writing to provide a preview of what will be covered. Overview of the Data Set Provide an overview for the current data set. What variables does it include? Which are qualitative, which are quantitative? What categories are used and why are they used? Begin your e-mail to AIU by first providing an overview of the database, that is, a story about the characteristics that may include types of variables, etc. Use of Statistics and Probability in the Real World This is a great place for outside research. Be sure to include information about where statistics are being used in the workplace. The Value of Statistics Explain the value of statistics and its contribution to the success of an organization. This is a great place for outside research. Distributions ...
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...each week’s objectives. Highlight the correct response, and then refer to the answer key at the end of this Study Guide to check your answers. Use each week’s questions as a self-test at the start of a new week to reflect on the previous week’s concepts. When you come across concepts that you are unfamiliar with, refer to the Student Guide for that particular week. Week One: Understanding the Meaning of Statistics Objective: Explain the role of statistics in business research and its application in business decision making. 1. When TV advertisements report, "2 out of 3 dentists surveyed indicated they would recommend Brand X toothpaste to their patients," an informed consumer may question the conclusion because a. the sample was only 5 dentists b. the sample of dentists is clearly explained c. the advertisement does not include the total number of dentists surveyed d. the conclusion is not illustrated with a graph 2. A marketing class of 50 students evaluated the instructor using the following scale: superior, good, average, poor, and inferior. The descriptive summary showed the following survey results: 2% superior, 8% good, 45% average, 45% poor, and 0% inferior. a. The instructor's performance was great! b. The instructor's performance was inferior. c. Most students rated the instructor as poor or average. d. No conclusions can be made. Objective: Differentiate between qualitative and quantitative variables. 3. Which of the following is an example...
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...Institute of Management Sciences Peshawar Bachelors in Business Studies Course Plan Course Title: Statistics for Business Instructor: Shahid Ali Contact Email shahid.ali@imsciences.edu.pk Semester/Duration: 16 Weeks Course objectives : To introduce students to the concepts of statistics and to equip them with analytical tools to be used in business decision making. The course is intended to polish the numeric ability of the students to identify business problems, describe them numerically and to provide intelligible solutions by data collection and inferential principles. Course pre-requisites Intermediate statistics Attendance Policy: Late arrivals are highly discouraged. Any student coming late to a class late by 5 minutes after the scheduled start time will be marked as absent for the day. The teacher reserves discretion, however, to allow or disallow any student, to sit in the class in case of late arrivals. Attendance is not be entertained once the attendance register is closed. Class Project Students will be divided in groups for a class project. Each group will have to nominate a group leader. The details of the project will be made available to the group leader. Class Presentations Each student will have to make at least one individual presentation and one group presentation in the class. The group presentation will be on the project explained earlier. The individual presentations will...
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...QNT-351 Discussion Question Responses * DQ#1: What is the importance of statistics in business decision making? Describe a business situation where statistics was used in making a decision. 1. Using statistics to evaluate the performance of your business. Taking all factors into account, determine whether you are making or losing money. In addition, determine the trend of your business. For example, determine whether, over time, you are making more or less profit (or loss). Track the share of the market that your business holds, and how this changes over time. Evaluate all these factors for each product type, even each model, in your company's line. The statistics to use here are simple line and bar graphs of data. These data can alert you to where you need to change aspects of your business, and how quickly you have to make that change. Furthermore, statistics are an excellent way to determine how you should allocate your resources to increase sales. Sales in a given market are a result of a number of factors, such as pricing, the size of the sales force, and the type and number of advertisements placed. However, these factors will not be equally important for every product. You would use multiple regressions to determine which of these factors are most important, and how much changing your asset allocation (for example, the size of the sales force) will change sales. 2. Statistics: The science of collecting, organizing, and analyzing data. Descriptive Statistics...
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...Unit 2 – Probability and Distributions Iesha Babers American InterContinental University Abstract Many occasions can’t be predicted with absolute certainty and the best way to say how likely something will happen is to use probability. When you have a set of data that is well defined and random probabilities can be used to describe statistical numbers of outcomes divided by the number of all the outcomes. Memo To: Head of American Intellectual Union From: Iesha Babers Date: 04-06-14 Subject: AIU Percentages Dear: Head of American Intellectual Union: It has been a joy to do some research on AIU below you see the percentage of male and females that are with in AIU, the tenure these employees have been with the company, the percentage of three departments, and the mean for extrinsic by gender. Overview of the Data Set Using probability within an organization can be beneficial because it let the organization know if there are room for improvements (Stephanie, 2010). The data that was used for this current probability report were the qualitative variables gender and quantitative variable extrinsic. The probabilities below show the probability for gender, employee’s tenure with the company, and the percentage of employees that are in different departments. Use of Statistics and Probability in the Real World We us probability in our everyday lives we are just un-ware of when it’s being used such as when watching the new and the weather man says there...
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...Statistics are necessary for scientific research because they allow the researchers to analyze empirical data needed to interpret the findings and draw conclusions based on the results of the research. According to Portney and Watkins (2009), all studies require a description of subjects and responses that are obtained through measuring central tendency, so all studies use descriptive statistics to present an appropriate use of statistical tests and the validity of data interpretation. Although descriptive statistics do not allow general conclusions and allow only limited interpretations, they are useful for understanding the study sample and establishing an appropriate framework for the further analysis in the study. Further analysis using appropriate statistical methods allows the researchers to establish correlations between independent and dependent variables, define possible outcomes, and identify areas of potential study in the future accurately. Statistics is important for researchers because it allows them to investigate and interpret the data more accurately, and researchers will notice patterns in the data that would be overlooked otherwise and result in inaccurate and possibly subjective conclusions (Portney &ump; Watkins, 2009). Frequency distribution is a method used in descriptive statistics to arrange the values of one or multiple variables in a sample, so it will summarize the distribution of values in a sample. Frequency distribution is the most basic and frequently...
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...Abstract The head of the American Intellectual Union (AIU) is looking for research data about Gender, Probability factors and several other data sets that they need to use for reporting purposes. This data will help the AIU make sound and responsible decisions in regards to the data that they are looking to collect. Memo To: Director, American Intellectual Union From: John C. Carter Date: 8/2/2014 Subject: Distribution and Probability of data collected Dear Sir: As we discussed in earlier meetings, the AIU is looking for research data to help provide clear and concise numbers that you will be able to use in your business. These numbers that will be included in this document will allow the AIU to make sound and responsible business decisions about the future of your company. Overview of the Data Set The data that was used in this report came from information collected by AIU. These data sets include: Gender, Age, Department, Position, Tenure, Job Satisfaction, Intrinsic, Extrinsic and Benefits. With this data we will be looking at job satisfaction and how it relates to the different data sets that are included. These data sets include some Quantitive data sets like; Gender, Age and Tenure and Intrinsic. They also include a set of Qualitative categories like Department, Position, Extrinsic and Benefits. Use of Statistics and Probability in the Real World Statistics and Probability are used in a wide variety of ways in the modern workplace. Being able...
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...[pic]M C Escher http://www.theorsociety.com/Science_of_Better/htdocs/prospect/index.asp What is Operational Research? The discipline of applying appropriate analytical methods to help make better decisions. By using techniques such as problem structuring methods (sometimes known as 'Soft O.R.') and mathematical modelling to analyse complex situations, operational research gives executives the power to make more effective decisions and build more productive systems based on: • More complete data • Consideration of all available options • Careful predictions of outcomes and estimates of risk • The latest decision tools and techniques Linear Programming Operations management often presents complex problems that can be modelled by linear functions. The mathematical technique of linear programming is instrumental in solving a wide range of operations management problems. Linear programming is used to solve problems in many aspects of business administration including: • product mix planning • distribution networks • truck routing • staff scheduling • financial portfolios • corporate restructuring Decision Trees In many problems chance (or probability) plays an important role. Decision analysis is the general name that is given to techniques for analysing problems containing risk/uncertainty/probabilities. Decision trees are one specific decision analysis technique. Sensitivity analysis Queuing Theory...
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...knowledge to the business students to inculcate academic excellence in various fields of research and development, with special reference to business management. In addition it will provide necessary statistical knowledge and wide rage of ways to analyze data, which will improve the students statistical analytical and decision making skills. Session Lecture Outline Learning Objectives 01 Basic Probability and Discrete Probability Distributions Simple Probability To develop an understanding of basic probability concepts To introduce conditional probability To use Bayes’ Theorem to revise probabilities in light of new information To provide an understanding of the basic concepts of discrete probability distributions and their characteristics To develop the concept of mathematical expectation for a discrete random variable To introduce the covariance and illustrate its application in finance To present applications of the binomial distribution in business To present applications of the Poisson distribution in business 02 Counting Techniques 03 Continued 04 Conditional Probability 05 Discrete probability distribution. 06 Mathematical Expectation of Discrete Random Variable 07 Properties of mean and variance of a discrete random Variable. 08 Binomial Distribution. 09 Poisson Distribution. 10. The Normal Distribution and Sampling Distribution Introduction Mathematical Models of Continuous Random Variables To...
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...operating rooms replacing an existing eight room surgical suite. The existing surgical suite has eight surgical tables that will be replaced and the new surgery suite will have twelve new tables. Four manufacturers of surgery tables have been brought in for evaluation. They each had two weeks of trials and surveys were filled out by surgery employees. In order for the healthcare facility to make a good decision there is a “need to calculate the probability of something occurring or not occurring, make a judgment, consider alternatives and choose an action” (Duggan, n.d., para. 1). The event of the uncertainty is which manufacturer’s tables to choose to buy. If all things are equal the probability of picking the best table is one in four or 25%. This 25% probability can be changed through the trial of the beds in use, the survey of the hospital, previous research and history of each manufacturer, and the history of table use within the facility. Using the survey a confidence interval for each manufacturer’s table can be obtained. Using the confidence interval will in turn help calculate the confidence level of the product in the eyes of the staff. Not only can the staff survey help lead to a high confidence level but...
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...claim during the year. 15 policyholders are selected randomly. What is the probability that at least 3 of them submitted a claim the previous year? 3. When a class interval is expressed as 100 up to 200, _________________________. 4. A coffee manufacturer is interested in whether the mean daily consumption of regular-coffee drinkers is less than that of decaffeinated-coffee drinkers. A random sample of 50 regular-coffee drinkers showed a mean of 4.35 cups per day, with a standard deviation of 1.2 cups per day. A sample of 40 decaffeinated coffee drinkers showed a mean of 5.84 cups per day, with a standard deviation of 1.36 cups per day. What is your computed z-statistic? 5. You perform a hypothesis test at the .05 level of significance. Your computed p-value turns out to .042. What is your decision about the hypothesis? 6. In a distribution, the second quartile corresponds with the __________. 7. The MacBurger restaurant chain claims that the waiting time of customers for service is normally distributed, with a mean of 3 minutes and a standard deviation of 1 minute. The quality-assurance department found in a sample of 50 customers at the Warren Road MacBurger that the mean waiting time was 2.75 minutes. When you perform a test of hypothesis, what would be the resulting p-value? 8. The first card selected from a standard 52-card deck was a king. If it is returned to the deck, what is the probability that a king...
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... |QNT/351 | | | |Quantitative Analysis for Business | | | |Dr. Jacquelyn B. Frausto | | Copyright © 2013, 2012, 2011 by University of Phoenix. All rights reserved. Course Description This course integrates applied business research and descriptive statistics. Students will learn to apply business research and descriptive statistics in making better business decisions. Other topics include examination of the role of statistics in research, statistical terminology, the appropriate use of statistical techniques, and interpretation of statistical findings in business and research. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged...
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...observed throughout Crowd, sampling and statistical inference is essential. This paper discusses some of the general principles Visualization of planning experiments and data. Then, a strong focus on the appropriate choice Standard statistical models and statistical inference methods. First of all, the Standard Model described. These models, in order to apply interval estimation and hypothesis testing parameters Also described, including the next two sample cases, when the purpose of comparing two or more of the population For their means and variances. Secondly, non-parametric inference tests are also described in the case where the data Sample distribution is not compatible with standard parameter distribution. Thirdly, using multiple resampling methods Computer -generated random sample finally introduced the characteristics of the distribution and estimate Statistical inference. The method of multivariate data processing of the following sections involved. method Clinical trials also briefly review process. Finally, the last section of statistical computer software discussion And through the collection of citations to adapt to different levels of expertise, and to guide readers theme. In this article, there are some methods such as descriptive statistic, probablity distruction, possion ditruction and multivariate methods. For the descriptive statistic, they are tabular, graphical and Numerical Methods basic characteristics of the sample It can be described. While these methods...
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...Practical Advice 9.5 POPULATION PROPORTION Summary 9.6 HYPOTHESIS TESTING AND DECISION MAKING 9.7 CALCULATING THE PROBABILITY OF TYPE II ERRORS 9.8 DETERMINING THE SAMPLE SIZE FOR A HYPOTHESIS TEST ABOUT A POPULATION MEAN STATISTICS IN PRACTICE: JOHN MORRELL & COMPANY 9.1 DEVELOPING NULL AND ALTERNATIVE HYPOTHESES The Alternative Hypothesis as a Research Hypothesis The Null Hypothesis as an Assumption to Be Challenged Summary of Forms for Null and Alternative Hypotheses 9.2 TYPE I AND TYPE II ERRORS 9.3 POPULATION MEAN: σ KNOWN One-Tailed Test Two-Tailed Test Summary and Practical Advice Relationship Between Interval Estimation and Hypothesis Testing 349 Statistics in Practice STATISTICS in PRACTICE JOHN MORRELL & COMPANY* CINCINNATI, OHIO John Morrell & Company, which began in England in 1827, is considered the oldest continuously operating meat manufacturer in the United States. It is a wholly owned and independently managed subsidiary of Smithfield Foods, Smithfield, Virginia. John Morrell & Company offers an extensive product line of processed meats and fresh pork to consumers under 13 regional brands including John Morrell, E-Z-Cut, Tobin’s First Prize, Dinner Bell, Hunter, Kretschmar, Rath, Rodeo, Shenson, Farmers Hickory Brand, Iowa Quality, and Peyton’s. Each regional brand enjoys high brand recognition and loyalty among consumers. Market research at Morrell provides management with up-to-date information on the company’s various products and how the products...
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