Question

When doing a descriptive analysis for continuous variable, which measures are most commonly used:

-a measure of central tendency (mean or median)

-a count of how many people selected each response option (frequency)

-a measure of dispersion (standard deviation)

-all of the above

-1 & 3

What is the most important reason we do data analysis for marketing?

-to impress our bosses

-to help improve manager's decision quality

-to turn data into information

-to increase the visual impact of our presentations

Answer 1

When doing a descriptive analysis for continuous variable, which measures are most commonly used:

Since for continuous variables the central tendency and dispersion plays an important role, hence -1 & 3 are correct

Frequency plays role in discrete variables

What is the most important reason we do data analysis for marketing?

The objective of using data analysis in marketing is to improve the quality of decision

-to help improve manager's decision quality