Reference no: EM131816148
Television advertisers are trying to decide which of the approaches outlined in Exercise 1.21 to use in an upcoming study of age and response to an advertisement. At this point, are they mainly concerned with data production, displaying and summarizing data, probability, or performing statistical inference?
Exercise 21
Suppose television advertisers want to know if age plays a role in people's response to a rather unconventional ad that might be aired during the next Super Bowl. The ad is shown to a variety of viewers. Keeping in mind that the explanatory variable is not necessarily the first one mentioned, classify each of the following possible approaches as involving one of these relationships:
C → C: categorical explanatory variable and categorical response variable
C → Q: categorical explanatory variable and quantitative response variable
Q → C: quantitative explanatory variable and categorical response variable
Q → Q: quantitative explanatory variable and quantitative response variable
a. They ask whether or not a viewer likes the ad, and record his or her age.
b. They classify a viewer as being youth, young adult, middle-aged, or senior citizen, and whether or not he or she likes the ad.
c. Viewers' ages are recorded, along with their rating of the ad on a scale of 1 (most unfavorable) to 10 (most favorable).
d. Viewers' ratings of the ad on a scale of 1 to 10 are recorded, along with the viewers' age group as being youth, young adult, middle-aged, or senior citizen.
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Variable of interest quantitative or categorical
: The New York Times study of appliances reported 2.5 television sets per household in 2001.
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Role in people response
: Suppose television advertisers want to know if age plays a role in people's response to a rather unconventional ad that might be aired during the next.
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Draw the pareto diagram and describe what you see
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Net income plus interest? payments
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Displaying and summarizing data
: At this point, are they mainly concerned with data production, displaying and summarizing data, probability, or performing statistical inference?
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Discuss the plausibility and probable reliability
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What are compensating controls
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Obtain some quantitative data relating to quality
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Compute the amount of phantom profit
: Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.
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