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Case Study: Test Market, Advanced Statistics

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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.

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