Data Interpretation and Analysis

These flashcards focus on key terms and definitions from the analysis of data and consumer perceptions as discussed in the lecture.

Bias

A tendency to favor one perspective or outcome over others, affecting the validity of research.

Bell Curve

A symmetrical distribution where most observations cluster around the central peak.

Stacked Bar Chart

A chart that shows the composition of different groups in a total, with segments stacked on top of each other.

Cross Tabulation

A method to analyze the relationship between two or more categorical variables in a tabular format.

Scatter Diagram

A graphical representation of two variables, plotted along two axes to observe relationships between them.

Hypothesis

A proposed explanation for a phenomenon that can be tested through research or experimentation.

Regression Analysis

A statistical method for estimating the relationships among variables.

Sampling Bias

A bias introduced when the sample collected is not representative of the population intended to be analyzed.

Nominal Value

A value that is used for identification or categorization without any numerical significance.

Customer Satisfaction

A measure of how products and services supplied by a company meet or surpass customer expectations.