Category: Marketing Glossary

Empirical Construct

Accuracy – The degree to which calculations or estimations are in proximity to exact or real values. See also: Precision Base Level – Prior to drawing conclusion from research data, it is frequently necessary to be informed about what is…

Artificial Intelligence

Artificial Intelligence – The intelligence exhibited by a programmed computer. The computer is employed to simulate human intelligence, human thinking processes. Examples: the computer that play chess, the computer guidance of aircraft. See also: Simulation of thinking Computer – Complex electronic…

Regression Analysis

Cluster Analysis – A technique of analysis that attempts to classify sample persons into a small number of segments (types, clusters) on the basis of a number of characteristics. Essentially, the persons within a given segment are made to look…

Nomogram

Median Test – Ordinal test that rejects the hypothesis of the equality of two populations (one sided) in the event that there are too few observations of a sample that is greater or smaller than the median of the samples…

Empirical Construct

Accuracy – The degree to which calculations or estimations are in proximity to exact or real values. See also: Precision Base Level – Prior to drawing conclusion from research data, it is frequently necessary to be informed about what is called…

Descriptive Statistics

Correlation Matrix – A square in which all correlation-coefficients of a study are located. All quantified variables are correlated to one another. The purpose is to discover unanticipated, hidden relations. Many such correlation-coefficient are irrelevant, nonsense, or involve pseudo-relations. For example:…

Trend

Point Cloud – The correlation of points in a scatter diagram. See also: Scatter diagram Profile – Graphic representation of research results in which the objective is to show clearly the differences between elements or parts. Profile Score – The individual…

Curvilinear Relation

Poisson Distribution – A special instance of a binomial distribution, in which the probability for a specific event is extremely small (for example: an accident). See also: Binomial distribution Probability Distribution – A distribution that expresses the probability of value X…

Vital Statistic

Time Series – A set of observations (data that are classified according to a unit of time. For example: monthly sales. See also: Time series Analysis Time Series Analysis – Techniques that are employed in an attempt to comprehend alterations in…

Classification

Base Period – A period of time during which data have been collected, data that are used as a base for an index number or for some other fractional number. The base period is usually one year. However, it can…