Basic Data Analysis:

Descriptive Statistics

Syed Far Abid Hossain

Lecture - 23

Coding Data

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Data entry refers to the creation of a computer file that holds the raw data taken from all of the questionnaires suitable for analysis

Data coding refers to the identification of codes (rules/systems) that affect to the possible responses for each question

Why is Statistical Analysis Used?

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Why Use Statistical Analysis?To summarize data

The average price of a Gateway PC is $2,489

The low is $999, and the high is $4,678: this is the range

Why is Statistical Analysis Used?

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Why Use Statistical Analysis?To show basic patterns in the data 30% buys at $1,500 or less 50% buys at between $2,500 and $1,500

20% buys at $2,500 or more

Why is Statistical Analysis Used?

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Why Use Statistical Analysis?To interpret these patterns

The majority of Gateway buyers pay $2,500 or less

Why is Statistical Analysis Used?

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Why Use Statistical Analysis?To generalize the patterns to the population 95% of all Gateway buyers pay between $2,000 and $3,000 for their PC’s

Types of Statistical Analyses Used in Marketing Research

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Five Types of Statistical Analysis: 1. Descriptive analysis: used to describe

the data set2. Inferential analysis: used to generate

conclusions about the population’s characteristics based on the sample data

Types of Statistical Analyses Used in Marketing Research

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3. Differences analysis: used to compare the mean of the responses of one group to that of another group

4. Associative analysis: determines the strength and direction of relationships between two or more variables

Types of Statistical Analyses Used in Marketing Research

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5. Predictive analysis: allows one to make forecasts for future events

Understanding Data Via Descriptive Analysis

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Measures of Central Tendency:Mode: the value in a series of numbers that occurs most often

Median: the value whose occurrence lies in the middle of a set of ordered values

Mean: sometimes referred to as the “arithmetic mean”; the average value characterizing a set of numbers

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Question

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*** Describe Mean, Median and Mode*** Why you should Use Statistical Analysis? Discuss Five Types of Statistical Analysis with examples