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Knowledge to solve a problem, directed activity, comes up with numbers and decides this is what is to be done. Used by reseach consultants, corporate research departmnets, and gives a course of action. 


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Knowledge to gain knowledge, used by research academics, and includes a university professor. 


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gives us an idea of what we want to do next, now that we know what we know we need to do that. 


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Equipment needed to do research 

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1. cost related, 2. cost indicative, 3. cost effective (they are all related to money, what consumers are buying and or watching) 


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a plural word for number , meaning numbers ( word substitutes include: information, or data set) 


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"Bayesian" refers to the 18th century statistician Thomas Bayes (1702–1761), who provided an early, mathematically incomplete treatment of a problem in Bayesian inference. all the functions of the parameters are distributed. In other words, a posterior distribution is obtained for functions such as reliability and failure rate, instead of point estimate as in classical statistics. Therefore, in order to obtain a point estimate for these functions, a point on the posterior distributions needs to be calculated. Again, the expected value (mean) or median value are used. 


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Total product sales in units of dollars 


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when things take off in growth or come down and start declining 


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Precommercialization, introduction, growth stage, maturity and then the decline. 


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High innitial price is called Skinning, and low innitial price is called penetration 


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dealing with closenessor numbers of significant digits 

