7Task 7 Bus 364

Explain measure of central tendency and dispersion

Describe how to test hypotheses using univariate and bivariate statistics

Utilize perceptual mapping to present research findings

You will read chapter 11.

Please read the following section contained in the textbook: Chapter 11

1)    Investigate measure of dispersion: range, standard deviation and variance.

2)    Start planning how you are going to use descriptive statistics within your marketing research project.

3)    Prepare a chart to help information users to grasp the results developed in your data analysis. This will be one of your visual aids, which later will be incorporated in your marketing research final project.

4)    Upon completion, upload your assignment to Moodle.

SAMPLE SOLUTION

Two important types of statistics are the central tendency and dispersion measures. A measure of central tendency refers to a number used to represent the middle or center of a data values set (Mishra et al., 2019). Some of the commonly used central tendency measures include the mean, median, and mode. At the same time, the measures of dispersion in statistics are the extent to which distributions are squeezed or stretched. Some of the common examples of dispersion measures include variance, interquartile range, and standard deviation.            Using univariate tests, hypotheses can be formulated by following a series of steps – state the alternative and null hypotheses, decide on the level of significance for the test, and compute the value of statistical tests (Todorov et al., 2020). Accordingly, testing hypothesis using bivariate statistics involves analyzing two variables often…