The benefits of the use of descriptive and inferential statistics

 

In a three page, APA formatted Word document, discuss the benefits of the use of descriptive and inferential statistics in the managerial decision making process.

Include a case analysis representing descriptive and inferential statistics. Identify a company and its products or services. Explain to what extent it can improve its decisions through the application of descriptive and inferential statistical analysis.

Sample Solution

The benefits of the use of descriptive and inferential statistics

When analyzing data, such as the marks achieved by 100 students for a piece of coursework, it is possible to use both descriptive and inferential statistics in your analysis of their marks. Typically, in most research conducted on groups of people, you will use both descriptive and inferential statistics to analyze your results and draw conclusions. Descriptive statistics is the term given to the analysis of data that helps describe, show or summarize data in a meaningful way such that, for example, patterns might emerge from the data. Inferential statistics helps to suggest explanations for a situation or phenomenon. It allows you to draw conclusions based on extrapolations. Descriptive statistics helps exploring and making conclusions about the data in order to make more rational decisions.

In conclusion, receivers of advertising may not be a group that shares common features/characteristics; therefore, their interpretations of particular product will always vary. In addition to Eco’s theory of the open work this concept is also related to the statements of Stuart Hall that identified how crucial groups and sub-groups of the society bring their own experience into the process of rendition. For instance, perception of the works is affected by individual pursuits and opinions, but also by present state of attention. The involvement of intellect during watching advertisements is constrained; this fact has been confirmed also by the research of some Psychologists. Emotional, automated brain processes that have been defined as System 1 correspond with the setting of the spectators that is related to common reception of any advertisement – they watch it with deep thought, react to it more emotionally instead of radically, while these tendencies are, in most cases, intentionally supported by the advertising itself – it is as much accessible as possible, mostly focused on the emotional communication. The absence of thorough thinking about advertising by nature does not indicate that the receivers accept the products without any objections. For example, the attitude of the receiver is affected by experience. Advertisements intend to form or relive this event(s). In order to get the best skills to do so, many researches rendered more attention to their convincingness, memorability and ability to be identifiable. However, convincingness is especially cogent for direct purchase of products. Truly effective advertising has a long-time effect that affects shopping behaviour by recalling the memory of a part of its content. Most memories are formed by the end of the advertisement itself, what is probably caused by peak-end effect. Guy Cook (2010) calls the advertising a positive discourse, as it takes other discourses, their content, form, authors and also receivers; however, it is a point that it often does so in quite imaginative ways. Identifying of the symbolism while considering different implications ought to lead people to substitution of stimuli that are altogether different from one another. Not everything suggestive must be inevitably a symbol, metaphor or metonymy. Television advertisements still include quite significant amount of such stimuli. Their meaning indicates how these money-making products might set out toward seeking after higher (somewhat more masterful) targets than just pulling in the sharp consideration of the beneficiaries.

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