Exam (elaborations)
MKT 3340 (Marketing Research) Exam -2 Final Exam Review Questions and Answers
- Course
- Institution
MKT 3340 (Marketing Research) Exam -2 Final Exam Review Questions and Answers
[Show more]
Seller
Follow
Content preview
MKT 3340 (Marketing Research) Exam #2Final Exam Review
Population - Question and answersA population is all cases that meet designated
specifications for membership in the group
Census - Question and answersA census is defined as an accounting of everyone in the
population.
Defining the Target Population - Question and answersResearchers must be very clear
and precise in defining the target population
Example: Households in the city limits of Richardson, TX, with one or more children
under the age of 18 living at home
Sample - Question and answersA sample is a subset of the population that should
represent the population.
Sampling Error - Question and answersThe sampling error is any error in a survey that
occurs because a sample is used
- usually caused by method of sample selection or sample size
The difference between results obtained from a sample and results that would have
been obtained had information been gathered from or about every member of the
population
- sampling error is decreased by increasing sample size
0 can be estimated (assuming probability sample)
Sample frame - Question and answersA sample frame is some master list of all the
members of the population
Parameter - Question and answersA characteristic or measure of a population
If it were possible to take measures from all members of a population without error, a
true value of a parameter could be determined
Statistic - Question and answersA characteristic or measure of a sample
Statistics are calculated from sample data and used to estimate population parameters
Why use samples? - Question and answersMarketing researchers, when collecting
primary data, typically rely on a sample because:
- taking a census of everyone in a market is time consuming
, - very costly
- and often leads to measurement errors
Using a sample can generate results that generalize the entire population
How to select a representative sample - Question and answersHow we draw a sample
(the sample plan), determines whether a sample is representative
There are two major types of sampling plans: probability and nonprobability sampling
plans
Probability Sampling Methods - Question and answersA random sample is one in which
every member of the population has an equal chance, or probability, of being selected
into the sample
Sample methods that embody random sampling are often termed probability sampling
methods, because the chance of selection can be expressed as a probability
There are four probability sampling methods:
- simple random sampling
- systematic sampling
- stratified sampling
- cluster sampling
Simple Random Sampling - Question and answersUsed when the population is small
and can easily be counted or even when the population is large but is contained in an
electronic database which can automatically "draw" a random sample
Probability of selection = sample size/population size
With simple random sampling the probability of being selected into the sample is
"known" and equal for all members of the population
Example: put all names into a "hat" and stir them and blindly draw names out
Procedures for drawing simple random samples - Question and answers1. Select a
suitable sampling frame
2. Assign each element a number from 1 to N (population size)
3. Generate n (sample size) different random numbers between 1 and N. This can be
done using a software package or using a table of simple random numbers
4. The numbers generated denote the elements that should be included in the sample
Members selected should be representative of all the members of the population.
Randomly Selecting Samples - Question and answersRandom Digit Dialing (RDD) is a
method of randomly generating numbers to represent telephone numbers
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kpeter21739. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
84146 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now