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Market Research
CH. 14
19
Marketing
Undergraduate 3
02/18/2011

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Term
Central Limit Theorem
Definition
Idea that a distribution of a larger number of sample means or sample proportions will approximate a normal distribution, regardless of the distribution of the population from which they were drawn.
Term
Normal Distribution
Definition
Continous distribution that is bell-shaped and symmetric about the mean; the mean, median, and mode are equal.
Term
Proportional Property of the Normal Distribution
Definition
Feature that the number of obserbations falling between the mean and a given number of standard deviations from the mean is the same for all normal distributions.
Term
Standard Normal Distribution
Definition
Normal distribution with a mean of zero and a standard deviation of one.
Term
Standard Deviation
Definition
Measure of dispersion calculated by subtracting the mean of the series from each value in a seris, squaring each result, summing the results, dividing the sum by the number of items minus 1, and taking the square root of this value.
Term
Population Distribution
Definition
Frequency distribution of all the elements of a population.
Term
Sample Distribution
Definition
Frequency distribution of all the elements of an individual sample.
Term
Sample Distribution
Definition
Frequency distribution of all the elements of an individual sample.
Term
Sampling Distribution of the Mean
Definition
Theoretical frequency distribution of the means of all possible samples of a given size drawn from a particular population; it is normally distributed.
Term
Standard error of the Mean
Definition
Standard deviation of a distribution of sample means.
Term
Point Estimate
Definition
Particular estimate of a population value.
Term
Interval Estimate
Definition
Interval or range of values within which the true population value is estimated to fall.
Term
Confidence Level
Definition
Probability that a particularinterval will include the true population value; also called confidence coefficient.
Term
Confidence Interval
Definition
Interval that, at the specified confidence level, includes the true population value.
Term
Sampling Distribution of the Proportion
Definition
Relative frequency distribution of the sample proportions of many random samples of a given size drawn from a particular population; it is normally distributed.
Term
Allowable Sampling Error
Definition
Amount of sampling error the researcher is willing to accept.
Term
Population Standard Deviation
Definition
Standard deviation of a variable for the entire population.
Term
Finite Population Correction Factor (FPC)
Definition
Adjustment to the required sample size that is made in cases where the sample is expected to be equal to 5 percent of more of the total population.
Term
Statistical Power
Definition
Probability of not making a type II error.
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