Research and Design Statistics Worksheet MBA/510

Concept

Application of Concept in Scenario

Reference to Concept in Reading

Sampling

'We conducted focus groups in our regions, which showed an overwhelming demand for the product' (USA World Bank p. 3)

If UWB and CT do not choose the proper sample it could be a costly decision.

'To infer something about a population, we usually take a sample from the population' "To contact the whole population would be time consuming" (Lind, Marchal, Wathen, 2005, p. 251).

Types of Sampling - Stratified Random and Cluster

UWB has been determining what action to take in regards to their consumers, using both random and cluster sampling. CT has been using random and cluster in order to determine who will be their potential consumers.

Stratified - 'a population can be clearly divided into groups based on some characteristics….(Lind, Marchal, Wathen, 2005 p. 254)

Cluster - 'is the sampling of a population that covers a large geographical area.' (Lind, Marchal, Wathen, 2005 p. 254)

Research

The business manager for Business Development of CT was given the task to research which city(ies) CT should target, the revenue to be generated and who is their target population.

Research is important because statistical analyses "are used to make decisions that affect our daily lives" (Lind, Marchal, Wathen, 2005, p. 3).

Ratio, Ordinal, Nominal, Interval Data

"It is important to remember that when talking about an individual respondent's rankings, we cannot say that their top-ranked benefit is twice as important as their second-ranked benefit, and three times as important as their third-ranked benefit" (USA World Bank, p. 10-11).

Ratio - This means that there is a relationship between age and the likelihood of purchase and the likelihood of...