MKTG 4204 Chapter Notes - Chapter 13: Null Hypothesis, Statistical Inference, Statistical Significance
28 Jan 2020
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Market segmentation done for differences that are: statistically significant. The differences found in the sample(s) truly exist in the population from which the random samples are drawn: meaningful. One that the marketing manager can potentially use as a basis for marketing decisions. One that will be in place for the foreseeable future: actionable. Means that the marketer cn focus various marketing strategies and tactics such as product design or advertising t-test. Statistical inference test to be used with small sample sizes (smaller than 30) Null hypothesis: hypothesis that the difference in their population parameters is equal to 0, used to test whether a true difference exists between two group percentages. Anova (analysis of variance) - an investigation of the differences between the group means to ascertain whether sampling errors or true population differences explain their failure to be equal. If at least one pair of means has a statistically significant difference, anova will signal this by indicating significance.
