A Member of Your Market Research Team Conducted Tests of a New

question 13

Multiple Choice

A member of your market research team conducted tests of a new television advert with twenty different groups of consumers, in which they rated their satisfaction (on a ten point scale) with the advert and likelihood of purchasing the advertised product (on a five point scale) . He is worried about the familywise error rate across the tests, what advice would you give him.

• A) Use a Cramer's V test
• B) Use a Olive Dunn test
• C) Use a Bonferroni Correction
• D) Use a Field Correction

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Definitions:

Cyclical Effect

A pattern of fluctuations in a time series that corresponds to cycles in the broader economy, often related to business or economic conditions lasting more than a year.

Exponential Smoothing

A time series forecasting method for univariate data that applies smoothing factors to make forecasts.

Smoothing Constant

A parameter used in exponential smoothing forecasting methods to control the rate at which older observations are dampened.

Forecasted Value

A prediction or estimate of a future value based on historical data and analysis.