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Marketing Metrics and Decision Making Final Exam Questions - 899 Verified Questions

Page 1


Chapter 1: The Purpose and Process of Marketing Research

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Q1) All of the following are characteristics of industrial marketing research <u>except</u>

A) difficult to find good executive interviewers

B) respondent definitions are usually fairly simple

C) study costs per interview are higher than for consumer research

D) respondent cooperation is a major concern

Answer: B

Q2) Contribution margin is

A) selling price minus variable costs

B) selling price minus fixed costs

C) selling price minus variable and fixed costs

D) profit per unit divided by variable costs

Answer: A

Q3) A research project costs $80,000.Selling price is $30.00 and variable costs are $20.00.What is the break even point to cover the costs of the research?

Answer: 8,000 units ((80,000/(30-20))

Q4) Explain the difference between independent and dependent variables.

Answer: Dependent variables are phenomena a researcher seeks to explain,whereas independent variables are used to explain them.

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Chapter 2: Research Design and Data Sources

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Q1) Systematic error refers to

A) a constant bias in the measurement process

B) error due to sampling

C) random non-sampling error

D) inadvertent errors in coding and editing of data

Answer: A

Q2) Case histories involve

A) recognizing and recording relevant objects, events, and important and commonplace activities

B) intense investigation of prior situations that are analogous or appear relevant to the current one

C) creating an analogous version of a real-world phenomenon through a likeness or formal model

D) directly manipulating key variables and observing the effect on dependent variables

Answer: B

Q3) A tract is the smallest area for which census data are available.

A)True

B)False

Answer: False

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Page 4

Chapter 3: Measurement in Marketing Research

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Q1) Which of the following arranges the measurement scales in order of complexity (simplest to most complex)?

A) nominal, interval, ordinal, ratio

B) interval, ratio, nominal, ordinal

C) ratio, interval, ordinal, nominal

D) nominal, ordinal, interval, ratio

E) interval, nominal, ordinal, ratio

Answer: D

Q2) The methods used to measure validity involve determining the extent of agreement between attempts to measure the same characteristic through maximally similar methods.

A)True

B)False

Answer: False

Q3) Reliability refers to the extent to which the measurement process is free from random errors.

A)True

B)False

Answer: True

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Page 5

Chapter 4: Causal Designs and Marketing Experiments

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Q1) The _______________ pre-experimental design uses two treatment groups,one that has been exposed to the treatment and one that has not.

A) one-shot case study

B) one-group pre-test-post-test

C) static-group comparison

D) pre-test-post-test control group

Q2) To measure the interaction of independent variables,researchers would use a A) pre-test-post-test control group design with the interaction observed before and after treatment

B) randomized block design with the interaction treated as the blocking factor

C) Latin square design with the interacting independent variables treated as levels of extraneous variables

D) factorial design

Q3) Discuss the courses of action a researcher can follow to control extraneous variables and the statistical recourse that may be available if these fail to prevent a confound.

Q4) Identify and define the symbols used in experimental syntax.

Q5) Identify the three pre-experimental designs and the syntax that is used to represent them.Describe how each is conducted.

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Page 6

Chapter 5: Data Collection: Exploratory and Conclusive Research

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Q1) Careful screening of respondents is essential to the success of the focus group.Screening criteria include all of the following <u>except</u>

A) respondents with direct experience with the object or issue being discussed should not be included

B) respondents who have participated in the recent past should not be included

C) respondents who are participating only for the money should be avoided

D) respondents who have a relative or friend already in the group should not be used

Q2) The _______________ survey is a type of depth interview where the researcher is interested in the views of a selective cross section of people associated with the research problem.

A) client-participant

B) extra-deep

C) preferred participant

D) experience

Q3) In analyzing focus group sessions,the analyzer should develop categories for responses before any of the sessions are viewed.

A)True

B)False

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Chapter 6: Designing Surveys and Data Collection

Instruments

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Q1) What factors affect a respondent's ability to remember a particular event?

A) recency of the event

B) importance of the event

C) repetition of the event

D) all of the above

E) both a and c

Q2) In multiple-response questions,the order in which the response alternatives are listed tends to bias the data.

A)True

B)False

Q3) Discuss the advantages and disadvantages of open-ended questions.

Q4) The main issues arising in designing multiple-response questions are the number of alternatives,the alternatives themselves,and interview bias.

A)True

B)False

Q5) The function of the questionnaire is measurement; measurement error is a serious problem in questionnaire construction.

A)True

B)False

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Chapter 7: Sampling

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Q1) How many sampling cells would be required for a quota sampling based on the following control characteristics?

Age: 18-25,26-40,41-60,and 61+

Income: Less than $20,000,$20,000-$39,999,and $40,000-$59,999.

Education: Less than high school,High School,2-year degree,and 4-year degree

Q2) All statistical tests,such as calculation of the mean and standard error of the sampling distribution can be calculated and are valid under the following condition(s):

A) the population is normal and the sample is any size

B) the population has an unknown distribution and the sample size is at least 30

C) both a and b

D) either a or b

Q3) In disproportionate stratified sampling,more data should be collected from the strata cells that

A) are the most homogeneous

B) are the most heterogeneous

C) have the smallest cell sizes

D) have the largest cell sizes

Q4) A properly defined population must be defined in what four terms? Give an example.

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Page 9

Chapter 8: Data Analysis and Statistical Methods:

Univariate and Bivariate Analyses

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Q1) A statistic that is resistant to large changes when the data changes slightly is said to be bimodal.

A)True

B)False

Q2) In examining the relationship between two variables,if r = -1,then the relationship is A) a perfect positive correlation

B) a perfect negative correlation

C) not a relationship at all

D) sorely in need of counseling

Q3) If the coefficient of determination (r<sup>2</sup>)for a multiple regression is large,then the regression is highly significant.

A)True

B)False

Q4) Define,and describe the relationship between,SS<sub>XY</sub>,covariance,the linear correlation coefficient,the coefficient of determination,and r<sup>2</sup>-adjusted.

Q5) What is the power of the test and how does it relate to error?

Page 10

Q6) What are a z-test and a t-test,and when should each be used?

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Chapter 9: Multiple Regression: Modeling Multivariate

Relationships

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Q1) Describe what regression is and what it is used for.

Q2) Regression presumes the following theoretical model for the population:

\[Y = \beta _ { 0 } + \beta _ { 1 } X _ { 1 } + \beta _ { 2 } X _ { 2 } + \ldots + \beta _ { k } X _ { k } + \varepsilon\]

where Y is the dependent variable,the Xs are the independent variables,the ?s are the coefficients of the independent variables,and ? is the error.

A)True

B)False

Q3) A histogram will show if the data points are normally distributed. A)True

B)False

Q4) The t-test is the first thing that should be checked in a regression output.If it is not significant,then the entire model is not providing sufficient explanatory power. A)True

B)False

Q5) Discuss its limitations of regression.

Q6) Explain the problems of non-normality,heteroscedasticity,and autocorrelation and how researchers can detect each.

Page 11

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Chapter 10: Multivariate Methods of Marketing Research I:

Factor, cluster, and Discriminant Analyses

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Q1) When analyzing a nominal dependent variable in terms of several interval independent variables,researchers use

A) discriminant analysis

B) the principle components method

C) factor analysis

D) cluster analysis

Q2) Although discriminant analysis works well for discriminating among known groups of a dependent variable,it cannot be used reliably for predicting into which of the pre-established groups a new set of items will fall when the group membership of those items is not already known.

A)True

B)False

Q3) Factor analysis can be used for all of the following applications in marketing research <u>except</u>

A) data reduction

B) structure identification

C) scaling

D) segmentation

Q4) Identify the three steps in a factor analysis solution.

Page 12

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Chapter 11: Multivariate Methods of Marketing Reseach Ii:

Conjoint Analysis and Multidimensional Scaling

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Q1) Conjoint is very useful for predicting market share of an optimal product.

A)True

B)False

Q2) To determine the optimal product from conjoint results,researchers

A) choose the levels of each attribute with the highest part worths, including the price attribute

B) incorporate information about production and distribution costs with the conjoint results to determine product attributes and price that result in profit

C) fit continuous curves through the part worths, including price, and use the levels at the highest points of these curves

D) none of the above

Q3) In an MDS routine,for n objects,_______________ possible pair-wise comparisons are used to estimate 2n coordinates in two-dimensional space.

A) n(n-1)/2

B) n<sup>2</sup>-1

C) n!

D) cannot be determined

Q4) Discuss the uses of multidimensional scaling.

Page 13

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Chapter 12: Advanced Topics, research Frontiers, and Preparing

the Final Report

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Q1) 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

Q2) 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

Q3) All of the following are participant-based selection biases<u> except</u>

A) unequal selection criteria

B) premature termination

C) drop-out bias

D) self-selection

Q4) When respondents can decide whether or not they want to participate,it is called unequal selection bias.

A)True

B)False

Q5) Identify and describe the 8 types of selection bias.

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