Statistical Analysis in determining the Market Value of New Fragrance
Name -(Jatin Kalchuri)
Due date-(14/04/2015) Lecturer and Tutor-( Dr Zhiming Cheng) Word count – 3000 words ( excluding the tables )
Table of Contents
Contents Page Number
1. Executive Summary 3
2. Business Problem 3
3. Statistical Problem 3
4. Analysis 4
4.a) Confidence Interval 5
4.b) Hypothesis Testing 7
5. General Conclusion 14
6. Implications 14
7. References 15
Executive Summary
The aim of this study is to determine the market value for the new fragrances so the company can properly price its proposed new product. For the
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This study makes use of simple random sampling. Simple random sampling selects the individuals randomly and every single individual must have an equal probability (Hughes and Sharrock, 2007; Powell and Connaway, 2010).Thus, each and every product chosen from the market for the survey has equal probability. The sampling unit of this study is Sanitary Product sector in Australia. The target population in this research for the quantitative study is the sanitary products in Australia. The sample size for the quantitative study is for 95 products in the market.
This research makes use of both the primary and secondary data. The primary data for this research is collected with the help of surveys. This particular research makes use of closed ended questions in order to collect primary data. According to Loewy and Guffey (2009), secondary data is the one which is already available and it is accessed through the external materials. The data analysis and interpretation process identifies solution to the research problem. This study makes use of the statistical technique independent sample t test, F test for testing equality of variances and one way ANOVA to test the proposed hypothesis. In this research, descriptive research design makes use of the independent sample t test. Ethics in this study is strictly followed by the researcher and also data is maintained in
The strategy of secondary analysis was chosen for this research because it is cheap and timely in comparison to other forms of research. Using data collected by other reliable sources increases the validity of secondary data analysis research.
The fragrance market is the major part of the care market. During the 90’s, this market has known a considerable growth. Currently, it might be entering a maturity phase. The perfume market is highly competitive and there are a lot of fragrance houses which are competing for sales. The total global market is over 25 billion Dollars.
The method of inquiry that I have taken for this assignment is both primary and secondary research. I conducted a survey that I distributed among some of the school population on survey
In this chapter the results obtained from the analysis of data collected (previous chapter) are discussed in relation to the aims and objectives of the study. The study attempts to answer the following research questions:
Hunsaker et al. (2015) clearly discussed the statistical tests that were used in the study. The data was analyzed by the Statistical Package for Social Science, a series of Pearson r correlation, t test and a one-way analysis of variance. The results of the study were sufficiently presented in Table 1, which used the Stepwise solution for analysis.
This study uses empirical, longitudinal, and quantitative study as it’s methodology. The research design was descriptive and
The selected theories and concepts for this research will be used in designing the questions and setting the measures for the questionnaire and the interviews as well. In addition, the theories and behavioral models will be used in analyzing and better understand the data obtained and in setting up the results of the research.
This chapter discusses the methods used in the study. It consists of research design, data and data source, data collection and data analysis.
In this study, primary and secondary research will be both incorporated. The reason for this is to be able to provide adequate discussion for the readers that will help them understand more about the issue and the different variables that involve with it. The primary data for the study will be represented by the survey results that will be acquired from the respondents. On the other hand, the literature reviews to be presented in the second chapter of the study will represent the secondary data of the study. The secondary sources of data will come from published articles from books, journals and theses and related studies.
The objective of this paper is following: Firstly, descriptive statistics are provided with detailed values of selected variables and histogram and bar chart explained particular data in details; secondary, the relationships between variables are conducted by correlation for numerical data and cross-tabulation and chi-square for ordinal data; after that, hypothesis tests (one-sample t-test, two-sample independent t-test and F-test) are performed to deepen this study; and finally, regression analysis explores a liner model, based on results in previous sections. Further, it is noted that all calculations were performed by SPSS.
The descriptive survey method of research was used in this study with the questionnaire as the main tool for gathering data.
Data was recorded and analyzed by Statistical Package for Social Science SPSS v.11. Correlation studies and ANOVA used for statistical analysis. The P-value less than 0.05 considered as statistically significant.
The utilization of t-test, ANOVA, and comparing group means are essential in social research. When the researcher uses a test, the goal is to compare the averages of the two groups in order to determine if the sample population has shown any differences in the variables studied. Comparing group means through t-test and ANOVA is needed in social research as its goal is to produce results from the sample that can be generalized to the the population. In this paper will discuss what the author of paper completed to develop a t-test and ANOVA analysis in SPSS, the author’s findings of the research, and what the author learned from utilizing the data set provided.
Data was analysed with SPSS Statistics 20 and Mplus Software Version 7.11 by performing descriptive and inferential statistics. In order to get an impression of the characteristics of the sample mean, standard deviation, Skewness and Kurtosis were determined. Descriptive analysis was conducted for all demographic information
This research was conducted using quantitative research method. The surveys also support on the quantitative methods. The thirty samples of the students and the location are conducted the quantitative research methods.