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Statistical Evidence

question 115

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Statistical evidence

Distinguish between drive, need, and want, and understand their interrelationships.
Understand differing theories of motivation and how they explain behavior.
Grasp the basics of SMART goal setting and its components.
Understand Maslow's hierarchy of needs and its application to marketing and motivation.

Definitions:

Outliers

Observations in a dataset that significantly differ from the other data points, often indicating variability or errors.

1.5*IQR

A statistical calculation used to identify outliers. It involves multiplying the interquartile range (IQR) by 1.5 and applying this value above the upper quartile and below the lower quartile.

3*IQR

A statistical range calculated as three times the interquartile range (IQR), used to identify outliers by delineating the boundaries beyond which data points are considered exceptional.

Statistically Significant

A determination that the results observed in data are unlikely to have occurred by chance alone, according to a predefined significance level.

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