Reference no: EM13848331
Bobzien and Rose have some ideas that they would like you to investigate:
1. They believe that people with higher incomes would be more likely both to be interested in a video about potential honeymoon destinations, and to be willing to pay more for such videos. They want you to determine what the data indicate about this.
2. They also believe that individuals with higher incomes (in the top half of annual income levels, nationwide) have different interests than those with lower incomes, and they would like to target those with higher incomes. Bobzien and Rose want you to determine what attributes of a video would interest that higher-income group; specifically:
o Which destinations interest them most? o What characteristics of resorts interest them most?
o How many resorts do they want to see on a video?
3. In the beginning, they need to focus their marketing and distribution to as few channels as possible, and they want to know what the very best channels would be, based on what the data suggests.
4. Clayton believes that the individuals in their target group (those with higher incomes) would be willing to spend at least fifteen dollars on a video, and he wants you to test that hypothesis.
5. Todd is less interested in testing a hypothesis than he is in developing an estimate for what people would be willing to pay. He would like 95% confidence intervals for the average price people would be willing to pay: one for the higher-income group, one for the lower-income group.
6. They both want to know what family member typically does the research about possible honeymoon destinations, and who primarily makes the decision on selecting the destination.
Analyze the 91 survey responses to provide answers to Todd's and Clayton's questions. Write a management report that contains your findings and recommendations.
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