More Exam mailbag

Got this email today:

Dear Sir,

First of all thank you for applying labels to blog posts. That surely helps.

Question I have is whether we need to know the concepts which are in book but are neither in slides nor covered in any lectures ?
For ex in chapter 7 there are few concepts which were not touched upon in class like the following .

1) Controlled test market
2) Simulated test market
3) Test marketing
4) Latin square design
5) Randomized block design.


Thanks and Regards,

My Response:

No, if it hasn’t been covered in the lectures and/or the slides, simply drop it from consideration .

For terms that do show up on slides though but haven’t found much mention or discussion in the lecture, basic definitions are quite enough – at least a bird/plane level understanding of what it is would be safe to have though.

But things like non-parametric tests and all are simply way beyond the scope pf the course. I mean they would be nice and relevant to do if we were to seriously undertake a study of basic economic or business modeling but not in this course.

Hope that clarifies.

Sudhir