Deck 12: Advanced Topics, research Frontiers, and Preparing the Final Report

Question 1

In the Heckman model,if the selection model and the prediction model are estimated separately,the two errors remain uncorrelated,and selection bias is automatically controlled for.

Answer 1

False
The error terms remain uncorrelated,which means that the selection biases also remain.

Question 2

When there is little data for an individual respondent,nonhierarchical methods permit the borrowing of information from other respondents to obtain better estimates.

Answer 2

False
This is an important element of hierarchical methods and why hierarchical methods are popular.

Question 3

Although hierarchical models are excellent for allowing for individual differences among respondents and measuring that difference in a meaningful way,they cannot provide information about where it comes from.

Answer 3

False
One of the strongest benefits of hierarchical models is that they do provide information about where the heterogeneity comes from.

Question 4

If a sample is collected through a non-random means,it is likely to have a selection bias.

Question 5

One of the most important analytical advances in marketing research in recent years has been the advent of hierarchical models and Bayesian estimation.

Question 6

With the Markov chain Monte Carlo method of estimating parameters,the process finds the best fit for each parameter before it moves on to the next parameter.

Question 7

When respondents can decide whether or not they want to participate,it is called unequal selection bias.

Question 8

The selection bias of "data mining" occurs when researchers perform a huge number of analyses and present the most significant results as if they were the only a priori hypotheses.

Question 9

The Markov chain Monte Carlo process will yield a single optimal value for each parameter.

Question 10

The predictions from homogenous models are far superior to those from hierarchical models.

Question 11

The vast majority of statistical models used in marketing yield only one value for each " $\beta$ ," which marketers assume is valid for everyone; yet this concept is in direct contrast to the idea of heterogeneity.

Question 12

Product recommendation systems use heterogeneity,hierarchical Bayes modeling,and sample selection bias correction in a single application to predict products a customer will like.

Question 13

Generally speaking,selection biases are the most problematic when items are selected based on values of the outcome variables.

Question 14

The selection equation of the Heckman model is an ordered logit model.

Question 15

It is important to remember that a sample that is collected non-randomly will always have a bias.

Question 16

With end-point selection bias,data collection begins as soon as data fall above or below an acceptable threshold.

Question 17

For prediction,the Heckman model can use any regression-based model.

Question 18

In the Heckman model,the more correlated are the errors between the selection model and the prediction model,the greater the evidence of a selection bias.

Question 19

The Heckman model can be thought of in terms of two equations: a "selection model" and a "prediction model."

Question 20

The concept of heterogeneity is very important to marketing because people respond differently to the same marketing variable.

Question 21

When writing a research report,it is important to remember that the report is designed to provide information to decision makers,not to showcase intriguing findings of the research.

Question 22

The hierarchical Bayes model is called "hierarchical" because

A) it consists of a number of levels
B) it represses the will of the grassroots
C) the error term and slope are related
D) the intercept is known in advance

Question 23

The executive summary is a condensed,accurate statement of the report's most crucial findings that is the essential element of nearly all research reports.

Question 24

In terms of presenting the research results in the written paper,objectivity refers to the lack of bias while framing the results so as to make them palatable to management.

Question 25

When writing a report,use plenty of clichés and marketing jargon,because this is the language that management understands.

Question 26

The fact that different people respond differently to the same sale,advertisement or other marketing variables is

A) Bayes model of reaction
B) heterogeneity
C) homogeneity
D) a results of selection bias

Question 27

In real applications,all of the following complexities of heterogeneity are common except

A) a large number of humps for each coefficient
B) many coefficients
C) homogenous solutions are more accurate
D) the coefficients are correlated

Question 28

Having used a Bayesian estimation process,to determine the best value for a parameter,researchers look

A) at the standard errors plot
B) at the highest point of the posterior distribution
C) for the highest factor loading
D) for the highest beta value

Question 29

Within marketing research,"heterogeneity" is generally used to refer to

A) differences in behavior
B) differences in sensitivity
C) differences in outcome
D) differences in characteristics

Question 30

The result of the estimation process through rigorous guessing procedures is

A) the best beta value for each parameter
B) the best guess value for each parameter
C) a distribution of the various values of each parameter
D) an estimation of the distance between each data point and the normalized centroid

Question 31

The most general form of heterogeneity model in current use is called

A) discrete heterogeneity
B) Bayesian hierarchical heterogeneity
C) latent class model
D) finite normal mixture heterogeneity

Question 32

Suppose that the distribution of the value of b for a sample of respondents were as follows:
23% have b=2
17% have b=3
30% have b=4
30% have b=5
Which type of heterogeneity model does this example fit?

A) discrete
B) continuous
C) Bayes
D) Heckman distribution

Question 33

Heterogeneity models go by all of the following names except

A) discrete heterogeneity
B) continuous heterogeneity
C) latent class model
D) Bayesian estimation model

Question 34

In Bayesian analysis,guesses follow a rigorous process called

A) latent Monte Carlo
B) Markov chain Monte Carlo
C) Heckman chain Monte Carlo
D) hierarchical Markov estimation

Question 35

With _______________,there is no search for the best parameter values,but instead guesses are made about the value of each parameter repetitively to arrive at a solution.

A) Bayesian estimation
B) the Heckman model
C) latent model estimation
D) parsimonious modeling

Question 36

In examining the differences between men's and women's weight,it can be said that each inch of height adds more to men's weight than to women's.This is an example of

A) intercept heterogeneity
B) slope heterogeneity
C) Bayes heterogeneity
D) hierarchical heterogeneity

Question 37

In examining the differences between men's and women's weight,it can be said that women have a lower baseline weight then men.This is an example of

A) intercept heterogeneity
B) slope heterogeneity
C) beta heterogeneity
D) coefficient heterogeneity

Question 38

In preparing a written report,a simple graph can convey far more than a table with the same information.

Question 39

The hierarchical model allows for all of the following except

A) it allows for different slopes for different respondents
B) it includes individual regressions for each respondent
C) it allows for an explanation as to where the heterogeneity comes from
D) it allows for borrowing missing information from other respondents

Question 40

Running a separate regression model for each person would yield the best results and effectively deal with heterogeneity.We do not do this for all of the following reasons except

A) researchers don't ordinarily have many pieces of data for each individual
B) researchers are looking for a unified explanation of a phenomena
C) individuals tend to give the same answers anyway
D) it is expensive to prepare a separate marketing approach for each individual

Question 41

The coefficients of selection bias correction models will automatically correct for any selection bias if the

A) selection model is estimated before the prediction model
B) prediction model is estimated before the selection model
C) the selection and prediction models are estimated jointly
D) population standard deviation is known

Question 42

An example of a study-based selection bias is

A) endpoint selection
B) self-selection
C) unequal selection criteria
D) file drawer effect

Question 43

All of the following are data-based selection biases except

A) unequal selection criteria
B) ad hoc rejection
C) endpoint selection
D) premature termination

Question 44

In terms of ratings,which movies have the highest heterogeneity?

A) Action and Animation
B) Animation and Art
C) Family and Classic
D) Art and Horror

Question 45

It is rare that an overt selection bias will

A) have an effect on the outcome of a study
B) have no effect on the outcome of a study
C) have a significant impact on a study
D) will influence a management decision advised by a study

Question 46

_______________ occurs when researchers pre-screen potential participants on an outcome variable.

A) Self-selection
B) Ad hoc rejection
C) Unequal selection criteria
D) Drop-out bias

Question 47

_______________ is a data-based selection bias that occurs when data are deemed "bad" using arbitrary criteria,often as they come in,instead of using explicitly-stated or previously agree-upon standards.

A) Endpoint selection
B) Ad hoc rejection
C) Premature termination
D) Drop-out bias

Question 48

The model for selection in question #23 is used instead of others because

A) it calculates a more accurate error term
B) its normally-distributed error is somewhat easier to work with
C) it predicts more accurately the factor loading
D) its Gumbel-distributed error is somewhat easier to work with

Question 49

NOTE: The following results from the Application Case Study presented in the text show means for selection of movies (Selection Distribution) and how they were rated (Prediction Distribution). Refer to this table to answer the following questions.
Hierarchical Bayes Sample Selection Model for Movie Ratings Predictions

Which types of movies are not selected often,yet are rated highly when selected?

A) Classic and Art
B) Thriller and Classic
C) Family and Horror
D) Horror and Art

Question 50

In terms of selection,which two movies have the highest heterogeneity?

A) Action and Animation
B) Animation and Art
C) Family and Classic
D) Art and Horror

Question 51

The most common type of selection bias correction model used by researchers is the

A) hierarchical Bayes model
B) fixed normal mixture model
C) Heckman model
D) bias estimation model

Question 52

NOTE: The following results from the Application Case Study presented in the text show means for selection of movies (Selection Distribution) and how they were rated (Prediction Distribution). Refer to this table to answer the following questions.
Hierarchical Bayes Sample Selection Model for Movie Ratings Predictions

Which type of movie is rated the highest?

A) Action
B) Animation
C) Romance
D) Drama

Question 53

NOTE: The following results from the Application Case Study presented in the text show means for selection of movies (Selection Distribution) and how they were rated (Prediction Distribution). Refer to this table to answer the following questions.
Hierarchical Bayes Sample Selection Model for Movie Ratings Predictions

From the following list of movies,which one is rated the lowest?

A) Classic
B) Family
C) Horror
D) Thriller

Question 54

NOTE: The following results from the Application Case Study presented in the text show means for selection of movies (Selection Distribution) and how they were rated (Prediction Distribution). Refer to this table to answer the following questions.
Hierarchical Bayes Sample Selection Model for Movie Ratings Predictions

Which gender is less likely to select a movie?

A) males
B) females
C) men and women are equally likely to select a movie
D) it cannot be determined from the given data

Question 55

Correcting for selection bias relies on the _______________ for selection

A) binary probit model
B) binary logit model
C) ordered probit model
D) ordered logit model

Question 56

Performing multiple,related studies and reporting only those that support the favored hypotheses is called

A) drop-out bias
B) self-selection
C) unequal selection criteria
D) file drawer effect

Question 57

NOTE: The following results from the Application Case Study presented in the text show means for selection of movies (Selection Distribution) and how they were rated (Prediction Distribution). Refer to this table to answer the following questions.
Hierarchical Bayes Sample Selection Model for Movie Ratings Predictions

Which kind of movies are selected the least often?

A) Drama and Comedy
B) Family and Thriller
C) Family and Thriller
D) Classic and Thriller

Question 58

A hierarchical model that is estimated by Bayesian methods is called a

A) hierarchical Bayes model
B) a Heckman model
C) Bayesian heterogeneity model
D) latent class model

Question 59

The problem of selection bias was long been recognized by statisticians as a problem until the introduction of the

A) Markov chain Monte Carlo method
B) hierarchical Bayesian estimation method
C) latent heterogeneity model
D) Heckman model

Question 60

All of the following are participant-based selection biases except

A) unequal selection criteria
B) premature termination
C) drop-out bias
D) self-selection

Question 61

A discussion of the methodology used in the research would be found in which section of the written report?

A) table of contents
B) executive summary
C) body
D) conclusions and recommendations

Question 62

Explain the general procedure of how the Markov chain Monte Carlo works.

Question 63

Discuss 5 general guidelines for a written marketing research report.

Question 64

Identify and describe the 8 types of selection bias.

Question 65

For most reports,what is the typical format (of 7 sections)?

Question 66

Identify the 4 components of the "body" of the written report.

Question 67

Since many managers only read the _______________ of a written research report,it is important for it to be accurate,concise,and well-written

A) table of contents
B) executive summary
C) body
D) conclusions and recommendations

Question 68

What increasingly common web feature uses a Heckman model to correct of massive amounts of missing data,parameter heterogeneity,and Bayesian estimation methods?

Question 69

Identify the 4 items that should be summarized in the executive summary section of a written research report.

Question 70

In using pie charts to illustrate data in written reports,it is advisable not to exceed

A) 3-4 slices
B) 5-6 slices
C) 10-15 slices
D) 20-25 slices

Question 71

The methodology component of the written report should contain all of the following information except

A) research design
B) sampling plan
C) data analysis procedure
D) research findings

Question 72

In the equation $$Y _ { i } = \alpha _ { j } + \beta _ { j } X _ { j } + \varepsilon _ { j }$$ ,how do the various variables and coefficients relate to heterogeneity?

Question 73

Name the two main types of heterogeneity models.

Question 74

To illustrate multiple comparisons and complex relationships,the best illustrative aid to use is

A) pie charts
B) histograms
C) bar charts
D) tables

Question 75

What is the Heckman model,how does it work,and what is it used for?