Basic Statistics and Data
Learning OutcomesAfter reading this chapter, you will be able to:
• Understand and use different scales of measurements. • Choose and calculate measures of location and dispersion. • Know how to use normal distribution probability tables. • Draw a scatter diagram. • Understand the basic concept of standard error used in hypothesis
This chapter is designed to provide readers with a basic understanding of the preliminary statistical concepts needed for interpretation of the outcome of any marketing research investigation. It discusses the different scales of measurements and the associated implications for analysis as well as the measures of location and dispersion. Normal distribution, which plays an important role in marketing research analysis due to its use in hypothesis testing, is then introduced. The basic concept necessary for hypothesis testing, standard error of an estimate is then discussed. Finally, the chapter shows how to draw a scatter diagram used in studying the relationship between two variables and serves as a foundation for understanding Chapters 7-9.
The text needs to be used in conjunction with statistical tables for Z, t and Chisquared distributions, in order to answer this chapter's course work assignments as well as those in in Chapters 7 and 8.