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Economics & Statistics

30 January 2014
Quantitative Marketing Research (MTM - Module "Strategic Planning") - Winterterm 2013/14

Basic Material / Links:

"Analysis of Economics Data"by Gary Koop, and "Look inside" possibilities of a bookseller.

"Business Research Methods" by D. R. Cooper and P. S. Schindler. Here you find the searchable Glossary of the 7th edition and also the ppt's used in class. There is also the students' material including (MC-) tests on the student website of the textbook ...

additional books:
"Understanding Social Science Research" by Thomas R. Black, with a preview ("look inside)" at Amazon (chapter 5 - 8 for a review of statistical methods + plus application in Excel)
 "HOW TO Research" by Loraine Blaxter, Christian Hughes and Malcolm Tight, see also excerpt of page 1-20

Alternatively you might check (free) ebooks, for example at: http://bookboon.com/en

 

AULIS, the E-Learning-Platform of the Hochschule Bremen - Please register to the AULIS system and subscribe to the group Repository » IGC - International Graduate Center » Master in International Tourism Management (MTM MBA) » Quantitative Marketing Research (MTM)]. We are going to use this group for our internal communication and to exchange handouts, solutions of the exercises, presentations, data, ...

Assessment:
The assessment is a LEARNING PORTFOLIO. This is a type of assessment in which the students document their own responsibility for their learning process and learning outcome.
Theoretical definition from the module handbook:  "A Learning Portfolio consists of several parts which may include individual as well as team results. Part of the final performance are the reflective statements in which the teams and every student critically reviews and evaluates the individual and teams' learning process as well as the roles of the different partial assessments.
   These partial assessments may be essays, concept papers, individual or team presentations, web pages, web logs, reflected literature research in form of documented bibliographies, own analyses including the documentation of case studies, applied methods, term papers, oral/written tests/exams or also other types that can be proposed to the lecturer. Normally 2 to 4 of these types are selected by the student and have to be approved by the lecturer."
Required parts of the Learning Portfolio in this class are described in this document - they might be subject to change / discussion during the class.

Tentative Time Schedule:

sess.
 date / time Research Methods (Theory: Cooper et. al.) Quantitative Methods (n) = chapter in Koop Material / case (practical work on cases - see also table below)
1-2 Wed, 22 Jan
9.00 - 10.30

General Introduction (Welcome.ppt)
(the research process)

-> ResMeth2014_Why-and-What.jpg

Case study: Museum
(teamwork in class)

- Course material (reader)
- Quick Study Guide Statistics

- Case Study: surveys in the Kunsthalle Bremen (Paula in Paris and others):
- Questionnaire
- Dataset in Excel and in SPSS format
- older dataset (Monet-Exhibition) as Excel-file (7.5 Mb) or zipped (1.9 Mb) plus questionnaire
- for data management (in Excel) see e.g. Black or e.g. http://www.excel-easy.com
3 Wed, 22 Jan
10.45 - 11.30		  

Basic data management in Excel:
descriptive statistics, tables

Presentations of the team work tasks (in class)
4-5 Thur, 23 Jan
10.30 - 12.00

Part I: Introduction to Business Research
1. Research in Business
3. Thinking Like a Researcher  

Preparing Data:
Measurement & Measurement Scales
used for Descriptive Statistics

6-7 Thur, 23 Jan
13.00 - 14.30		  

 

 Presentations of the team work tasks (homework case study I)
8-9 Thur, 23 Jan
14.45 - 16.15

 

11. Measurement +
12. Measurement Scales

  

 
10-11 Fr, 24 Jan
9.00 - 10.30		 13 Questionnaires and Instruments
(selected aspects)


 
12-13 Fr, 24 Jan
10.45 - 12.15

14 Sampling
(selected aspects)

Data Management in Excel: correlation and regression analysis. Excel file; XL_Exercises_Econometrics.xls

Please download the XL-files by Koop (zip), we are going to use (some of) them in class. Today we will use especially: Forest.xls and HPrice.xls
14-15 Fr, 24 Jan
13.15 - 14.45

 

 

Example test, see also student website of Cooper and Schindler (there are MC test for every chapter).

16-17 Wed, 29 Jan
9.00 - 10.30

WEEK TWO:

Your questions ...

        Midterm test (30 minutes)

 (6) First discussion of Multiple Regressions (scanned versions of chap 5 and 6 in Aulis); Causality, Specification The test will contain the topics we discussed in class:
Planned topics:
- The concepts discussed about chapter 1 and 2 of Cooper (pages/slides to be discussed)
- Preparing Data: Measurement & Measurement Scales
- chapters (3) and (4) of Koop about the concepts
   - you don't have to learn any formula (as you have the Statistics-QuickStudy at hand)
   - general questions about the concepts "describe", "explain".
   - computation and interpretation of regression results (simple reg.)
18 Wed, 29 Jan
10.45 - 11.30		   Koop: "Analysis of Economic Data"
Overview/Review chapters (1) to
(3) (correlation)

 
19-20 Thur, 30 Jan
9.00 - 10.30		  

(4) An introduction to simple regression
Simple Regression: Goodness of fit, Causality

(6) Multiple Regression (scanned versions of chap 5 and 6 in Aulis); Causality, Specification

  
21-22 Thur, 30 Jan
10.45 - 12.15

Inference: Population and sample
chap 18. Hypothesis Testing
    Inference: Population and sample
     ++ Central Limit Theorem
chap 16a: Describing Data

Teams present their PROPOSAL for the final presentations!

The final presentation time should be around 10 minutes per student.You are requested to deliver a handout for all students

Basically the teams should find an own topic reflecting their own interest. But given that you obviously have a time problem due to (an) other presentation(s), here some examples:

- Hedonic approaches (secondary data)
   o prices for cars, motorcycles, smartphones, cameras … (example for used cars)
   o rental prices, house prices, …
- specific behavior (primary data)
   o demand “functions”:
     + cinema demand
     + alcohol, expenditures for food
     + mobile phones ...

- Potential Data Sources (just some suggestions):

23-24 Thur, 30 Jan
13.15 - 14.45

chap 15a: Determining Sample Size (Random - samples)
-> Confidence Intervals

chap 18. Hypothesis Testing

(6) Multiple Regression        
(scanned versions of chap 5 and 6 in Aulis)
Causality, Specifications and Applications
with case study "Explaining House Prices"      ->

(5) Statistical Aspects of Regression

Central Limit Theorem (empty sheet used in class)

Explaining House Prices: XL-file: HPRICE_class.xls, SPSS Label-File
-> Description of some Koop Datasets

 
25-26 Fr, 31 Jan
9.00 - 10.30

tentative:
Part II: The Design of Business Research
6. Research Design: An Overview

7. Secondary Data 

(7) Regression with dummy variables
with case study "Explaining House Prices" and "Firm Foundations in Bremen"

College Town: students' results for simple linear analysis (see tasks in the below)
- Material/resmeth/CollegeTownQuestion.doc, College_Town.xls

- hedonic regression for used cars
We analyse cars like VW Polo, Opel Corsa, Skoda Fabia, Ford Fiesta
-> HedonicCars.xls

Sample application: Firm Foundations in Bremen:
- Paper and Presentation in German
- Presentation (short version in English)
- Data in Excel format
- SPSS data file, label_en.sps, Reg_Abs_All_en.sps, Reg_Intensi_All_en.sps and an example output
27-28 Fr, 31 Jan
10.45 - 12.15

 

Presentations of the case studies
-> Handouts and presentations have to be available BEFORE the class starts!

The presentation time should be around 10 minutes per student. You are requested to deliver a handout for all students

To be found in a library database (for example Selected Resources - Faculty 1: International Business at TB Economics and Nautical Sciences at SUUB Bremen) or simply at Google Scholar.

29-30 Fr, 31 Jan
13.15 - 14.45

Review and conclusion / your questions

Using SPSS
Review of (4) An introduction to simple regression and (5) Statistical Aspects of Regression (some aspects)

additional information:
if you want (=you don't have to!) you can download a trial version of the statistical program SPSS that we are going to use in class.

Statistical software:
- SPSS: Education, product demos (link "trial software")

Statistical software:
- SPSS: Education, product demos
- EasyReg International, by Herman J. Bierens

Statistical software:
SPSS: Education, product demos (alias PASW)
- Aulis group Folder: ... Literature > SPSS you find some (_older_) Guides (of older versions); you also find the data file und some syntax files
- for more information you can search "SPSS tutorial", "SPSS syntax guide", ... in the web (e.g. "Brief Guide" v19, ...)
- Alternatives: EasyReg International;    SAS, Stata, EViews, ...



Teamwork: The Groups are asked to prepare their tasks and present them in class.

Date \ Group:
All
1
2
3
Homework to prepare for:

Names -->
Jiaxi (Sissi)
Kamran
Ahmed
Fatali
Shreekesh Kumar
Vera
Said Saif
Rahul
Sarah

1st session
teamwork in class

 Discussion and brief presentation in class about project -> Memo      

for 2nd session
23 January

15 min. per team

Data analysis:
Describe the ...

+ socio-demographic characteristics of the respondents

+ describe the metric variables and analyse correlations that may make sense (including Inhabit_sqKm and distance)

All Groups: define management dilemas and => Management / Research Questions for your topic !

... origin of the visitors

and their socio-demographic characteristics for the different groups (question 26 ff in last colum)

... Inducement to visit the exhibition (question 1)

and their socio-demographic characteristics for the different groups

... Reason to visit the exhibition (question 3)

and their socio-demographic characteristics for the different groups (these are only the out-of-town visitors)

NO Mandatory presentation but just an exercise for you.

We'll discuss 1) in class briefly. So if someone volunteers to present it ... ;-)

 please read the papers and deliver a very brief summary of the research question and results in class:
- do NOT spend more than 30-45 minutes to read the paper !!! (=the task is to understand the basic topic (research question and results), not the specific econometric model)
- presentation should be 5-10 minutes

1) The Value of Safety as Revealed in the Swedish Car Market - An Application of the Hedonic Pricing Approach

2) A hedonic analysis of American collectable comic-book prices

 3) Cinema Demand in Germany 
for 30 January

"College Town": All groups should perform
(i) one simple correlation and regression (interpret!)    ... and:

(a) price / quantity  (b) advertising expenditures / quantity (c) distance / quantity
for 30 January

-Material/resmeth/CollegeTownQuestion.doc, College_Town.xls

(ii) the multiple regression, answering ...

 (h) what happens if FCI increases the rent by 50 and advertising by 10
+ general recommendations		 (g) what happens if an appartment building is located 5 miles further away than the average distance
+ general recommendations		 (f) what happens if FCI increases the advertising by 10
+ general recommendations

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Additional Material:
- Case study I (students' survey)
- Case study I: questionnaire, homework: presentation
- Formula by P. Schmidt (German - English)

- Central Limit Theorem (empty sheet)
- Suggestions for Presentation-Topics.doc
- Exam 2006
- Resit Exam 2006/07
- Examples for questions Research Methods
- Questions about estimations and tests

Remember that there are also (MC-) tests on the website of the textbook ...

Case Study: Survey in the Kunsthalle Bremen (Monet and Camille):
- Presentation van Gogh
- Questionnaire
- Data as Excel-file (7.5 Mb) or zipped (1.9 Mb)

Links:

Statistics:

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Bremen University of Applied Sciences
Department of Business Studies
Economics & Statistics