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,
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

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
Gllamm is a program which estimates the generalized linear latent and mixed models by the maximum likelihood. The models which can be fitted include structural equation models mul

Tracking is the term sometimes used in the discussions of data from the longitudinal study, to describe the ability to predict the subsequent observations from previous values. In

Mean squarederror is the expected value of square of the difference between an estimator and the true value of the parameter. If the estimator is unbiased then the mean of the squ

What is a Generalized Linear Model? A traditional linear model is of the form where Yi is the response variable for the ith observation, xi is a column vector of explanator

In an experiment, power is a function of 1. The number of variables being measured and the beta level 2. The effect size, internal validity and the beta level 3. The number of part

Pasture trials is the study in which the pastures are subjected to number of treatments (types of forage, animal management systems, agronomic treatments, and many more)The grazin

It is an informal method of assessing the effect of the publication bias, generally in the context of the meta-analysis. The effect measures from each of the reported study are plo

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

The Null Hypothesis - H0: Model does not fit the data i.e. all slopes are equal to zero β 1 =β 2 =...=β k =  0 The Alternative Hypothesis - H1:  Model does fit the data i.e. at

Attack rate : This term frequently used for the incidence of the disease or condition in the particular group, or during a limited interval of time, or under the special circumstan