Case Study: Test Market, Advanced Statistics

You and your team have been hired as strategic consultants by the hugely successful retailer known as “Cutie Pie”. The company sells many products, although one product in particular, a highly innovative car seat, is “Cutie Pie” has hired you to help them better understand the test market data they have compiled from 400 retailers worldwide (found in the excel file called “Cutie Pie.xls”). The variables in the data set include:
Unit Sales = the number of units sold (in thousands),
Competitor’s Price = the price for a similar product being sold by a competitor (in RM),
Income Level = average household income in the region (in thousands of RM),
Advertising = amount spent on advertising the product (in thousands of RM),
Price = the price being charged by the retailer (in dollars),
Population = number of people (in thousands) living in the region,
BMS2024 ADVANCED MANAGERIAL STATISTICS TRI 1, 12/13
HH 2
Average Age = average age of the population in the region (in years),
Average Education = average educational level in region,
Shelving Location = quality of the shelf location for the product (good, medium, or bad), Urban or Rural = description of the region as urban or rural,
Msia = a categorical variable indicating whether the sales region is in the Malaysia or an international market.
Question 1 [20 marks]
Describe how statistics can be applied in this case study. Write your answer not more than 300 words.
Posted Date: 9/7/2012 12:46:25 PM | Location : United States





yes
Posted by tls123 | Posted Date: 9/8/2012 11:13:18 PM


Related Discussions:- Case Study: Test Market, Assignment Help, Ask Question on Case Study: Test Market, Get Answer, Expert's Help, Case Study: Test Market Discussions

Write discussion on Case Study: Test Market
Your posts are moderated
Related Questions
K-means cluster analysis is the method of cluster analysis in which from an initial partition of observations into K clusters, each observation in turn is analysed and reassigned,

Convex hull trimming : A procedure which can be applied to the set of bivariate data to permit robust estimation of the Pearson's product moment correlation coef?cient. The points

Monty Hall problem : A apparently counter-intuitive problem in the probability which gets its name from the TV game show, 'Let's Make a Deal' hosted by the Monty Hall. On show a pa

Weathervane plot is the graphical display of the multivariate data based on bubble plot. The latter is enhanced by the addiction of the lines whose lengths and directions code the


Collective risk models : The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when des

How has quantitative analysis changed the current scenario in the management world today?

How is the rejection region defined and how is that related to the z-score and the p value? When do you reject or fail to reject the null hypothesis? Why do you think statisticians

The graph for Partial Autocorrelation Function for RES1 shows that there is no autocorrelation even though there are alternating spikes because they fall inside the 5% significance

Probabilistic matching is a method developed to maximize the accuracy of the linkage decisions based on the level of agreement and disagreement among the identifiers on different