goals business math© thomson/south-westernlesson 12.5slide 1 12.5marketing surveys calculate the...

GOALS

Lesson 12.5 Slide 1BUSINESS MATH © Thomson/South-Western

12.5Marketing Surveys

Calculate the response rate of surveys Calculate the results of surveys


Customer Surveys

Businesses survey customers to find what they think about products and services.

Mail, Internet, telephone, or personal contact may be used.


Population

The total potential number of people or organizations that may be surveyed is called the population.

Organizations such as the Bureau of Census try to survey every person in the U.S.


Sample Population

To save time and money, most organizations survey only part of the total population, called the sample, or sample population.

To insure that the people in the sample represent the people in the whole population, demographic data about the people in the sample are collected.

Demographic data may include age, sex, education, marital status, occupation, and income.


Respondents

People who complete surveys are called respondents.

Surveys are complete and valid when all questions are answered and demographic data are collected.

Some responses may not be counted if a quota for respondents with certain characteristics has been filled.


Response Rate

The response rate to a survey is found by dividing the number of responses by the number of surveys attempted.

Response Rate = Responses ÷ Surveys Attempted


Survey Results

The results of surveys are tabulated to provide information about the respondents.

Companies use this information to improve their products or to plan more effective ways to sell products or services.


Sample Results of a Product Satisfaction Survey


BUSINESS TIPBUSINESS TIP

Business people often tabulate data to make them easier to understand.

Tabulate means to place data in columns and rows and take totals of the columns and rows.


1. A survey was mailed to 10,500 households by the city library. Of the 1,683 surveys returned, 108 were incomplete and could not be processed. What was the response rate to the survey?

1,683 – 108 = 1,575 valid surveys

1,575 ÷ 10,500 = 0.15, or 15% response rate


2. A research firm doing telephone surveys considers surveys to be complete only if all questions are answered. Of the 580 persons in the survey population, 120 people did not answer their phone, 200 refused to answer any questions, 65 would not answer demographic questions, and 12 hung up the phone during the survey because the survey was taking too much time. All other surveys were complete. Find the survey’s response rate, to the nearest tenth percent

120 + 200 + 65 + 12 = 397 surveys not completed

580 – 397 = 183 completed surveys


2. A research firm doing telephone surveys considers surveys to be complete only if all questions are answered. Of the 580 persons in the survey population, 120 people did not answer their phone, 200 refused to answer any questions, 65 would not answer demographic questions, and 12 hung up the phone during the survey because the survey was taking too much time. All other surveys were complete. Find the survey’s response rate, to the nearest tenth percent

580 – 397 = 183 completed surveys

183 ÷ 580 = 0.3155, or 31.6% response rate


5. A college student surveyed eyeglass wearers in a shopping mall to determine why they don’t use contact lenses. Interpret the survey data shown and find: a. the percent of males who think that contact lens care requires too much time; b. the percent of females and males concerned about the expense of contact lens wear, to the nearest percent.


Reasons for Not Using Contact Lenses Female Male

Preference (tried and didn't like) 60 40 Time (lens care requires too much time) 100 120 Expense (costly supplies are needed) 180 50 Vision (may not see as well) 60 90

a. 40 + 120 + 50 + 90 = 300 males

120 ÷ 300 = 0.4, or 40% males

a. the percent of males who think that contact lens care requires too much time


Reasons for Not Using Contact Lenses Female Male

Preference (tried and didn't like) 60 40 Time (lens care requires too much time) 100 120 Expense (costly supplies are needed) 180 50 Vision (may not see as well) 60 90

b. 300 + 60 + 100 + 180 + 60 = 700

180 + 50 = 230

b. the percent of females and males concerned about the expense of contact lens wear, to the nearest percent.

230 ÷ 700 = 0.328, or 33% both

goals business math© thomson/south-westernlesson 12.5slide 1 12.5marketing surveys calculate the...

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