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GOALS BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 1 12.5Marketing Surveys Calculate the response rate of surveys Calculate the results of surveys.

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Presentation on theme: "GOALS BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 1 12.5Marketing Surveys Calculate the response rate of surveys Calculate the results of surveys."— Presentation transcript:

1 GOALS BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide Marketing Surveys Calculate the response rate of surveys Calculate the results of surveys

2 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 2 Customer Surveys Businesses survey customers to find what they think about products and services. Mail, Internet, telephone, or personal contact may be used.

3 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 3 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.

4 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 4 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.

5 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 5 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.

6 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 6 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

7 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 7 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.

8 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 8 Sample Results of a Product Satisfaction Survey

9 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 9 BUSINESS 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.

10 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 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

11 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 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 surveys response rate, to the nearest tenth percent = 397 surveys not completed 580 – 397 = 183 completed surveys

12 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 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 surveys response rate, to the nearest tenth percent 580 – 397 = 183 completed surveys 183 ÷ 580 = , or 31.6% response rate

13 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide A college student surveyed eyeglass wearers in a shopping mall to determine why they dont 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.

14 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 14 Reasons for Not Using Contact Lenses Female Male Preference (tried and didn't like) Time (lens care requires too much time) Expense (costly supplies are needed) Vision (may not see as well) a = 300 males 120 ÷ 300 = 0.4, or 40% males a. the percent of males who think that contact lens care requires too much time

15 BUSINESS MATH© Thomson/South-WesternLesson 12.5Slide 15 Reasons for Not Using Contact Lenses Female Male Preference (tried and didn't like) Time (lens care requires too much time) Expense (costly supplies are needed) Vision (may not see as well) b = = 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


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