Calculate descriptive summary measures for the prices

Reference no: EM132274723 , Length: word count:3000

Statistics for Decision Making Assignment - Case Study Analysis Report

Case Study: Product Development

A market leading Australian manufacturer of sanitary products is keen to develop new products so that the company can expand into Asian markets. Its Research and Development department has prepared a proposal to work on a new product line of razor blades. Assume you mink as a dam analyst for this company and you have been asked to investigate the market for shaving products. You have been asked to study the characteristics of currently available razor blades so the company will be in a better position to price its proposed new product. collected data for 90 products on the market. Data for the questions are attached.

Column 1: GENDER 1 for Female product and 2 for Male product.

Column 2: PACK Number of blades in a packet. 1 for 5-pack and 2 for 10-pack.

Column 3: PRICE Price of the product in Australian dollars for a packet.

Column 4: CART Number of cartridge blades. 1 for twin, 2 for 3-blade and 3 for 5-blade.

Column 5: MADE 1 made in France, 2 made in USA, 3 other countries.

Tasks -

1. Visually present data for the prices based on gender of the product. Calculate descriptive summary measures for the prices based on gender of the product. Comments on the location, shape and variability of those distributions.

2. Visually present data for the prices based on number of blades of the product. Calculate descriptive summary measures for the prices based on number of blades of the product. Comments on the location, shape and variability of those distributions.

3. Visually present data for the prices based on country of origin of the product. Calculate descriptive summary measures for the prices based on country of origin of the product. Comments on the location, shape and variability of those distributions.

4. Using appropriate inferential statistical techniques, determine if there is evidence that the mean price of male product is higher than mean price of female product.

5. Using appropriate inferential statistical techniques determine if there is evidence of a difference in the mean price of twin, 3-blade and 5-blade cartridges.

6. Using appropriate inferential statistics techniques, determine whether there is evidence of a difference in the mean prices of product from France is lower than the mean price of product from USA.

7. Using appropriate inferential statistics techniques, determine whether there is evidence of a difference in the mean prices for different countries.

The answer to your assignment should be in the form of a business report.

Your report must include:

a. An Executive Summary (100 to 150 words). In this section you summarize the main conclusions of the report in business language. It should also describe the primary purpose of the study, the general methodology used, the significant findings of each section, as well as key general conclusions and recommendations.

b. A Table of Contents with page numbers

c. Business Problem as given in the question in business language.

d. Statistical problem using the language of statistics (i.e. methods you have used to do your analysis).

e. Analysis: This section should present statistical output and discuss the results from all the analyses conducted. Outline required steps and show necessary computer output. Clearly label tables and graphs.

f. General Conclusion: This section should briefly review the study, summarize the inference(s) stemming from it, and highlight the evidence supporting each inference. Where appropriate, indicate the limitations of the results. The conclusions should be written in business language and in terms of the variables under discussion.

g. Implications: bearing in mind why the study was undertaken, briefly describe the implications and consequences of the conclusions drawn. You should include your recommendations for action (based on what you have found in your study).

Note -

1. Use 5% level of significance in your analyses for all questions of hypothesis testing.

2. EXCEL outputs should be incorporated into your report.

Attachment:- Assignment Files.rar

Reference no: EM132274723

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Reviews

len2274723

4/4/2019 2:16:49 AM

Word Count: 3000. Marks awarded will be based on presentation (5%) as well as the rest (90%). The report will provide you with an opportunity to demonstrate proficiency in integrating Excel with a word processor, Word. Note that you can easily import Excel output to Word. Write clearly and precisely. A precise report is a clear report, one that is composed of unambiguous statements. The word limit is 3000 words. More information on this assessment will be provided during the session time including the presentation of the assignment and submission to Turnitin. Please note that you should submit the assignment according to the format given in the Moodle site.

len2274723

4/4/2019 2:16:44 AM

Marking Criteria - Correct identification, use and interpretation of statistical techniques. Appropriate interpretation of computer output. Overall, you are required to demonstrate the following knowledge and skills in this assessment: Demonstrate the use of visualising data in presentation of real world data. Demonstrate the use of statistical concepts/techniques in business data. Demonstrate how to conduct various hypothesis tests and analysis of variance using computer software such as Excel. Demonstrate the use of computer software to get necessary statistical output. Demonstrate the skills of preparation of a managerial report.

len2274723

4/4/2019 2:16:37 AM

Style and Format - Business Report: Students are provided with a data set and a set of related questions they will need to answer by relying on the knowledge of statistical techniques and software acquired in class. In order to answer these questions students will need to prepare a business report, which will be marked by focusing both on the presentation and the rest egotistical analysis. output and interpretation). Specifically, the report will need to include the following sections: executive summary, table of contents, business problem, statistical problem, analysis, conclusion, implications.

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