Exam 12: Advanced Data Analysis

Multiple regression allows for the prediction of the level or magnitude of a phenomenon such as market size or market share.

When any observed difference in findings is considered significant enough to influence management decisions, the difference is

Linear relationships are always positive in nature.

Guidelines for setting the level of significance include:

If costs associated with a Type 1 error are not high and a Type 2 error is costly, set the level of significance low, perhaps at .05 or lower.

The appropriate statistical test for hypotheses about means with three or more subgroups is

A Type 2 error means rejecting the null hypothesis when it is actually true.

The actual chance that we are making a Type 1 error is called the p-value.

The appropriate statistical test for hypotheses about means with one small sample is

The _____ hypothesis states that you expect to find a difference or effect.

In using the Pearson product moment correlation, a correlation between 0.41 and 0.60 would indicate a _____ correlation.

Select the true statement:

The null hypothesis is stated in terms that indicate you expect to find no difference or no effect.

For variables that are ordinal, association is measured using the Spearman rank order correlation.

Perceptual maps are the result of

_____ is a method for determining the number and nature of underlying variables among a larger number of measures.

Factor analysis is one of the most popular multivariate techniques.

The greater the costs associated with Type 1 error, the _____ we should set our maximum risk.

Cluster analysis allows for the classification or segmentation of a larger group of variables into homogeneous subgroups, based on similarities on a profile of information.

If the p-value of a statistical test was .03, it would indicate the chance of making a _____ is 3 chances out of 100.