4. Be able to interpret research findings

Being able to understand and explain your data is an important part of your market research
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Market researchMBOStudiejaar 2

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Being able to understand and explain your data is an important part of your market research

Slide 1 - Diapositive

How to describe a chart
Let's go to this website to review words we use when interpreting charts and graphs.
Please click on: The preparation task

Slide 2 - Diapositive

Slide 3 - Lien

When you have collected all your data, it is time to interpret your findings. How do we make sense of all the data we have collected? There are a number of ways to present your data....

Slide 4 - Diapositive

Slide 5 - Diapositive

Let's resume...
The mean
The median 
The mode

Slide 6 - Diapositive

Find the median of the data: 13, 111, 17, 12, 15, 19, 19, 12, 110, 115, 17
A
12
B
17
C
15
D
110

Slide 7 - Quiz

Explanation answer B:
(Arranging in ascending order. 12, 12, 13, 15, 17, 17, 19, 19, 110, 111, 115) 
 Since number of observations is odd, the middle most value is the median. The middle most value is 17, so the median is 17

Slide 8 - Diapositive

The mode of the data 21, 26, 22, 29, 23, 29, 26, 29, 22, 23 is ....
A
21
B
22
C
23
D
29

Slide 9 - Quiz

Explanation answer D
29 because 29  occurs most frequently in the data.)

Slide 10 - Diapositive

The median of the data 23, 49, 87, 75, 88, 59, 89 is ...
A
49
B
87
C
75
D
59

Slide 11 - Quiz

Explanation Answer C
 75 because 75 is the middle most observation  given  in the data.

Slide 12 - Diapositive

Find the median of the data 39, 30, 80, 28, 20, 71, 19, 11, 60, 17
A
24
B
20
C
71
D
30

Slide 13 - Quiz

Explanation Answer A
24 ( Arranging in ascending order 11, 17, 19, 20, 28, 30, 39, 60, 71, 80) Since number of observations is even, the median is given by finding the average or mean of the two middle most observations So, median is (20+28) ÷ 2 = 24 (Note : In this data, there are two middle most terms 20 and 28. So, median
is the average of these observations.)

Slide 14 - Diapositive

The number of coffeebars in different streets of NYC are 9, 18, 24, 9, 5, 9, 3 and 9. The mode of this data is ...
A
3
B
5
C
9
D
18

Slide 15 - Quiz

Explanation answer C
 9 is the answer  
(3, 5, 9, 9, 9, 9, 18, 24) Here, 9 occurs more frequently: I.e. 4 times.
Mode of data 9: Note Mode is the observation that occurs most frequently in the data.

Slide 16 - Diapositive

The mean of 10 observations was calculated as 40. It was detected on rechecking that the value of 45 was wrongly copied as 15. Find the correct mean.
A
13
B
23
C
33
D
43

Slide 17 - Quiz

Explanation answer D
Answer is 43 (formula 40 = (Sum of all observations) ÷ 10 = So, sum of all observations = 400 (correct sum = Incorrect sum – Incorrect observation + correct observation) and Correct Mean=(Correct Sum ÷ Number of observations))

Slide 18 - Diapositive

Difficult? Read pages 256/266

Slide 19 - Diapositive

This is a scatter diagram

Slide 20 - Carte mentale

This is a pie chart

Slide 21 - Diapositive

This is a time series

Slide 22 - Diapositive

This is a bar chart

Slide 23 - Diapositive

The dotted line is a frequency curve

Slide 24 - Diapositive

For your analysis
Please use different kinds of charts/graphs to show us the results of your market research

Slide 25 - Diapositive

Slide 26 - Diapositive