# Statistics Concepts-Mba 510

## Statistics Concepts-Mba 510

• Submitted By: camille1981
• Date Submitted: 10/12/2008 6:33 PM
• Words: 550
• Page: 3
• Views: 821

Research Design and Statistics Concepts Worksheet
Concept Application of Concept in Scenario Reference to Concept in Reading
Sampling Methods,
• Cluster Sampling
• Stratified Random Sampling
• Systemic Random Sampling
• Simple Random Sampling
Bea Hansen recommends that the UWB President of New Product Development question the sampling methods of Best Market research firm. Bea is trying to lead them to under what the four methods of sampling are: Cluster Sampling, Stratified Random Sampling, Systemic Random Sampling, and Simple Random Sampling, (Lind, 2005, pp. 251-256). Reasons to Sample, “to contact the whole population would be time consuming…the cost of studying all the items in a population may be prohibitive…the physical impossibility of checking all items in the population…and the sample results are adequate, (Lind, 2005, pp. 251-252).”
Characteristics of sound measurement,
• Validity of data

Brian Allen, President of New Product Development, needs to answer the validity of the data collected by Best Market to present to the Board of Directors the second and third time to the group in a collective and comprehensive form. Mary Monroe, the VP of New Products Development did not question the validity of the data collected by Best Market, which she should have understood the characteristics of sound measurement.
Levels of measurement
• Interval
• Ratio

Bea Hansen recommends that the UWB President of New Product Development question the level of measurement that Best Market research firm utilized to collect the information on consumer expectations of a bank. Bea is trying to lead them in the first Board of Directors meeting to understand the most necessary levels of measurement UWB will choose from are interval and ratio. Levels of Measurement, “The level of measurement of the data often dictates the calculations that can be done to summarize and present the data. It will also determine the statistical tests that should be...