Market Intelligence (T-Test and Analysis of Variance) (Statistics Project Sample)
BBUS 423 Assignment 2 (Submit on Canvas by 11:59pm on June 1)
Assignment 2 questions are based on Auto Concepts data file (in Canvas). Copy the Excel results and paste them on the word file. Please interpret your results.
Part 1: Difference Tests – Identify the target market for each automobile model type under consideration.
The survey included the following commonly used demographic factors:
− Gender
− Marital status
− Age group
− Household income level
Your task is to apply appropriate differences analysis using the survey’s desirability measures in you Auto Concept dataset to determine the target market descriptions for each of the five possible automobile models.
1. ”Super Cycle,” 1-Seat All Electric, MSRP $18,000-$20,000; Range 300 miles.
2. “Rounabout Sport,” 2-Seat All Electric, MSRP $28,000-$34,000; Range 170 miles.
3. ”Runabout with Stowage,” 2-Seat Electric & Gasoline Hybrid, MSRP $30,000-$36,000; range 150 miles/charge & 100 miles/fill-up.
4. ”Economy Hybrid,” 4-Seat Electric & Gasoline Hybrid, MSRP $36,000-$45,000; range 125 miles/charge & 150 miles/fill-up.
5. “Economy Gasoline,” 4-Seat Economy Gasoline, MSRP $38,000-$42,000; 50mpg.
Part 2: Regression Analysis – identify the salient demographic and/or attitude factors that are related to preferences for each of the automobile model under consideration. With each automobile model, prepare a summary that:
1. Lists the statistically significant independent variables (use 95% level of confidence)
2. Interprets the direction of the relationship of each statistically significant independent variable with respect to the preference for the automobile model concerned.
3. Identifies or distinguishes the relative importance of each of the statistically significant independent variables.
Please also note that for nominal (categorical)/ordinal variables, you have to create dummy variables for them so that these variables are scale variables that conform to the requirements for regression analysis.
Assignment 2: Market Intelligence (T-Test and Analysis of Variance)
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Assignment 2: Market Intelligence (T-Test and Analysis of Variance)
Marketing intelligence is the external data that a company collects about a market it wants to get into to make decisions (Dam et al., 2019). It is the first set of data that the firm analyses before making any investment decisions (Dam et al., 2019). This assignment entails examining measures of difference. This implies that we will check for differences between the various grouping factors (demographic data) and the variables of interest (in this case, the five proposed car models).
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