Question 1

Practical significance depends on whether or not there is a(n):

Accepted Answer

Practical significance is determined by whether or not the difference between groups or variables has a useful managerial application. This means that the results must be meaningful and relevant to the real world, rather than just statistically significant.

Question 2

Once you have determined the percentage and sample size of each of your two samples, and then compared the two percentages by taking their arithmetic difference, the next step is t:

Accepted Answer

After determining the percentage and sample size of each sample and comparing the percentages, the next step is to determine the standard error of the difference between two percentages. This will give an idea of the amount of random error that could be expected in the difference between the two percentages.

Question 3

Which variable is often used by marketers to segment their market?

Accepted Answer

A

Question 4

In order to be potentially useful for a marketing manager, differences must be:

Accepted Answer

Statistically significant differences are important because they indicate that the observed difference is likely not due to chance and is therefore meaningful. This is essential for a marketing manager to make informed decisions based on data.

Question 5

A winery sees the market in three distinct segments based upon usage of wine; a dog food manufacturer sees the dog food market in 12 segments; Toyota offers 17 different models ranging from a two-seater sports car to the Avalon luxury car. These are all examples illustrating how:

Accepted Answer

This option highlights the fact that marketers can take advantage of differences between market segments, and differences analysis can be used to discover statistically significant, meaningful, and stable differences. This approach would help marketers identify the most valuable market segments and tailor their products and services to meet the unique needs of each segment. Option A is too general and does not provide details on how marketers can take advantage of differences between market segments. Option B is incorrect as it suggests that marketers should search for all differences, regardless of their significance and potential impact on the market. Option C is partially correct, but it does not recognize the importance of statistically significant differences. Option E is incorrect because it only mentions the existence of differences but does not provide a clear way to take advantage of them.

Question 6

Researchers often misuse and abuse the concept of significance, for they tend to associate statistical significance with the:

Accepted Answer

Statistical significance only indicates whether a result is likely to have occurred by chance or not, and is not necessarily indicative of the importance or practical meaningfulness of the result. The magnitude of the result should be evaluated separately from the level of statistical significance.

Question 7

In your textbook, you learn to test for significant differences between:

Accepted Answer

The textbook specifically states that you learn to test for significant differences between two percentages or two means.

Question 8

To test whether a true difference exists between two group percentages, we test the ________ hypothesis.

Accepted Answer

To test whether a true difference exists between two group percentages, we test the null hypothesis. The null hypothesis states that there is no true difference between the two groups, which is the hypothesis we aim to reject through statistical analysis.

Question 9

A researcher only has access to the sample results when trying to determine whether or not there is a statistically significant difference between two groups. Therefore, the researcher:

Accepted Answer

The answer of A researcher only has access to the...

Question 10

The null hypothesis states that the difference in two groups population parameter is:

Accepted Answer

The null hypothesis states that there is no significant difference between the population parameters of the two groups. In other words, the difference is equal to zero. Therefore, the correct choice is D, which states that the null hypothesis is equal to zero.

Question 11

Marketing segmentation is a vital marketing strategy concept. As such, a marketing researcher is always hoping for the:

Accepted Answer

The null hypothesis states that there is no significant difference between the groups being compared, while the alternative hypothesis suggests that there is a significant difference. As a marketing researcher, you want to reject the null hypothesis and support the alternative hypothesis, which means that there is a significant difference among the market segments being studied. Therefore, C is the correct answer as it suggests that the null hypothesis is not supported, meaning that there is a significant difference between the groups being compared.

Question 12

When a researcher is determining if two groups are statistically significant, he or she is considering the two groups as two separate populations. The question is whether or not the two different populations':

Accepted Answer

When determining if two groups are statistically significant, the researcher is comparing the parameters (such as means or proportions) of the two populations. The z scores and t scores are not important in this context, and associations and summarization values are not directly relevant to comparing two populations.

Question 13

Researchers can avoid the pitfall that traps many in the industry by understanding the difference between ___________ significance and ___________ significance.

Accepted Answer

Statistical significance refers to the likelihood that a result is not due to chance, while practical significance refers to the real-world importance or relevance of the result. It is important for researchers to understand both types of significance in order to make informed conclusions and decisions based on their findings. However, focusing solely on statistical significance can lead to overemphasis on small but statistically significant effects that may not be practically significant or meaningful in real-world settings. Therefore, understanding the difference between statistical and practical significance is crucial for researchers to avoid this pitfall.

Question 14

We have two percentages and we want to know if they are statistically different. We calculate our z and find that it is 4.21 at a 95% level of confidence. This means:

Accepted Answer

A z-score of 4.21 corresponds to a p-value of approximately 0.00002 (based on a standard normal distribution). Since this p-value is less than 0.05 (the threshold for significance at 95% confidence), we can reject the null hypothesis that the two percentages are the same, and conclude that they are statistically different.

Question 15

Which of the following states that the difference between the population parameters between two groups is zero?

Accepted Answer

The null hypothesis is a statement that assumes there is no difference or relationship between parameters, in this case, the difference between the population parameters between two groups is zero. Therefore, option B is the correct answer. The other options do not accurately reflect the concept of a null hypothesis.

Question 16

If the null hypothesis is true, the distribution of difference with repeated samplings follows the normal curve, with an average equal to ____ and a standard error equal to ____.

Accepted Answer

If the null hypothesis is true, the distribution of differences with repeated sampling follows a normal distribution with an average (mean) of 0 and a standard error of 1.

Question 17

When testing for differences between two groups, if the computed z value at 99% confidence is 1.98 we can conclude that:

Accepted Answer

At a 99% confidence level, the critical z-value is approximately 2.576. Since 1.98 is less than 2.576, we fail to reject the null hypothesis, indicating no statistically significant difference between the groups.

Question 18

Iams marketing over a dozen varieties of dry dog food, Toyota marketing over 20 different types of cars, and Boeing having five different types of commercial jets and a separate business jets division are all examples of:

Accepted Answer

This is an example of market segmentation, where companies divide their overall market into smaller groups with distinct needs and preferences and offer different products to cater to their specific requirements. In this case, Iams, Toyota, and Boeing are offering different varieties of products to appeal to different segments within their respective markets.

Question 19

When making a comparison between two groups of respondents to determine whether or not they are statistically different, in concept, the researcher is considering the two groups as two:

Accepted Answer

When making a comparison between two groups of respondents, the researcher is typically interested in determining whether or not there is a significant difference between the two groups. To make this determination, the researcher must assume that the two groups are drawn from different populations. If the two groups were drawn from the same population, then any apparent differences between the groups would simply be due to chance variation and not a true difference. Therefore, the best choice is A: different populations.

Question 20

There are different ways a research can analyze for differences between groups discussed in the textbook. Which of the following is NOT one of those ways?

Accepted Answer

The other options (A, B, D, E) all involve analyzing differences either between groups or within a single group using different variables or measures. Option C refers to comparing completely separate research projects, which is not a typical method for analyzing group differences within a single study.

Quiz 12: Testing of Differences

Practical significance depends on whether or not there is a(n) :