Which market would you choose to introduce the beverage

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Reference no: EM131697660

Q 1. Which market would you choose to introduce the beverage? Why?

cans Market 1	cans Market 2
2	1
2	1
3	1
2	1
5	1
1	1
2	1
2	3
10	10
1	10

Consider two markets for a particular product. The subjects were asked how many cans they drink in a day.
Given below the descriptive statistics for these data.

cans Market 1		cans Market 2

Mean	3	Mean	3
Standard Error	0.86	Standard Error	1.18
Median	2	Median	1
Mode	2	Mode	1
Standard Deviation	2.71	Standard Deviation	3.74
Sample Variance	7.33	Sample Variance	14
Kurtosis	5.62	Kurtosis	1.13
Skewness	2.31	Skewness	1.67
Range	9	Range	9
Minimum	1	Minimum	1
Maximum	10	Maximum	10
Sum	30	Sum	30
Count	10	Count	10
Confidence Level(95.0%)	1.94	Confidence Level(95.0%)	2.68

Q 2.(A )Construct relative frequencies and weighted averages.

Question 2 (B) What conclusions can you draw about the relationship between the two variables? Support your conclusion with data analysis.

Subject	purchase likelihood	Gender
1	5	2
2	4	2
3	4	2
4	3	1
5	1	1
6	5	2
7	5	2
8	4	1
9	1	1
10	1	1
11	2	1
12	5	2
13	5	2
14	4	1
15	3	1
16	3	1
17	4	2
18	5	2
19	2	1
20	2	1

Sum of Likelihood of purchase	Column Labels
Row Labels	1	2	Grand Total
1	3		3
2	6		6
3	9		9
4	8	12	20
5		30	30
Grand Total	26	42	68

A company is about to introduce a new product in the market. It asked a number of people to indicate the likelihood of purchasing the product.

Code: Likelihood of purchase:

Very likely = 5; Likely= 4; Undecided = 3;

Unlikely = 2; Very unlikely = 1

Gender: Male = 1; Female = 2

Q3 The Soccer Shop was recently opened in Kuwait to provide soccer equipment and supplies to players and teams.During the first month that it was open, the managers kept track of the number of customers who entered the shop each day.

Q 3

Subject	Customers
1	21
2	19
3	21
4	19
5	19
6	20
7	18
8	12
9	20
10	19
11	17
12	14
13	21
14	22
15	25
16	21
17	22
18	23
19	10
20	19
21	25
22	14
23	17
24	18

(a). Given the descriptive statistics for these data, interpret them in the context of the soccer shop.

Customers

Mean	19
Standard Error	0.75
Median	19
Mode	19
Standard Deviation	3.69
Sample Variance	13.65
Kurtosis	0.60
Skewness	-0.71
Range	15
Minimum	10
Maximum	25
Sum	456
Count	24
Confidence Level(95.0%)	1.56

Q 3(b). Interpret the histogram and support your conclusions using the descriptive statistics.

361_Number of customers.jpg

Q.4

At almost every university in the U.S.A. and in other countries with similar education system such as Kuwait, the universities compute student GPA using the following scale
A = 4 points, B = 3 points, C = 2 points, D = 1 point, and F = 0 point.

Question 4

(a) Discuss what, if any, problems might exist when GPAs for two students are compared within the same university?

(b) What about comparing GPAs for students from two different universities?

Q5 Given the cross tabulation below calculate the relative frequencies

Income (000)	No college	1-2 year college	3-4 year	5-6 years	> 6 years
$20 <	16	33	30	6	4	89.00
$20 < $40	22	28	40	26	5	121.00
$40 < $60	9	12	21	46	9	97.00
$60 >	3	5	15	13	6	42.00
Total	50	78	106	91	24	349

Question 5

Q 5 (a): Determine the % of those with at least 5 years of college than earn at least $40,000

Q 5 (b):Compare the proportion of Q(a) to the proportion for those having fewer than 5 years of college. What conclusion can you draw?

Q 5 (c): Determine the % of those who make at least $60,000 and who have more than 4 years of college

Q 5 (d) Draw an overall conclusion from the data and the calculations performed.

Reference no: EM131697660

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