1. Statistics is very relevant to the field of marketing research. Define two of the statistical terms found in Chapter 15 and indicate their significance.
2. Peer Response According to my research Sampling is an important aspect of social survey. It is the selection of relevant units of inquiry for the collection of data and should be done in a scientific manner. Therefore it is important to know how closely the measures based on sample represent the parameters and how much variation one may expect if other samples are analysed.The measures of reliability are concerned only with fluctuations due to random sampling and they have nothing to do with observational and computational errors. Interval estimation is the use of sample data to calculate an interval of possible (or probable) values of an unknown population parameter, in contrast to point estimation, which is a single number.
3. What’s the difference between a sample and a census? When might you use one versus the other?
4. Peer Response Both a census and a sample provide information that can be used to draw conclusions about the whole population but it is important to note which one was used when conducting research. A census is a study using every unit, everyone, and or everything in a population to retrieve data, it is a complete count. A sample on the other hand is data pulled from a subset in a population, this sample is chosen to represent the whole population, it is a count for a part of the population. There are pros and cons for both. Census provides true measures, there are no sample errors. Benchmarks may be used for future studies. When confuting census data you can determine small subgroups within the population. The cons of census data is it expensive to pull data from a whole population and it takes time you might not b e able to execute in the time allotted. Census would be used to pull information about housing conditions, demographic, social, and economic characteristics in a specific area. The pros for sample data is that it is less expensive than census data, you can pull your data in a small amount of time. If you data is accurate and good you can determine data for the whole population. The cons for pulling sample data is that if the data is not accurate you cannot use it to determine the whole population because the sample size might be too small. There could be a sampling error, if you group is not diverse enough you data will be wrong because you are not pulling all parts of the population.