logo

Assignment on Quantitative Methods

6 Pages1015 Words66 Views
   

Added on  2020-04-13

Assignment on Quantitative Methods

   Added on 2020-04-13

ShareRelated Documents
Quantitative MethodsSTUDENT ID:[Pick the date]
Assignment on Quantitative Methods_1
IntroductionThe given analysis has been conducted so as to enhance the overall understanding of thebeverage market in relation to USC students. For enabling this task, survey was designed andresponses were collected from the students with relation to the patterns related to thebeverage demand & consumption along with the manner price impacts both demand andloyalty. Instead of conducting the analysis on the population data, a random sample of 80responses has been selected through the aid of Excel. It is noteworthy that the underlyingsampling used for obtaining the sample was random. Analysis has been conducted on thesample data in congruence with a host of statistical tools and techniques to provide an insightinto the student beverage preferences that are outlined in the section below.Data AnalysisIn accordance with the calculations that have been executed through excel, the conclusions highlighted below can be drawn.1)With regards to proportion of domestic and international students, it needs to beconsidered that 72 students out of 80 are domestic students and the rest are internationalstudents. As a result, domestic students sample proportion amount to 90% while thecorresponding value for international students comes out as 10%.2)Based on the given data, it can be concluded that as there is an increase in the beverageprice there would be a reduction in the consumption. This is reflective of the inverserelationship that the price of beverage and quantity consumed is exhibiting. The scatterplot indicated below further confirms the same.
Assignment on Quantitative Methods_2
The above scatterplot confirms with the law of demand whereby price and quantitydemanded are inversely related. Also, there seems to be high linearity in the relationship.3)According to the sample data, the most popular beverage belongs to the other category asmost number of students in the selected sample i.e. 37 has voted for the same. Also, theleast popular beverage amongst the students is energy drinks as it has the highest numberof responses in the least popular beverage. The responses summary for the given sample isas outlined below.4)For evaluation of the beverage loyalty, it is required that the impact of price discount onthe responses of the students need to be analysed. If by giving a price discount, a largeproportion of the students would make the shift, then it would be indicative of low loyalty.Based on the computations using the sample data, it is apparent that when a price discountto the tune of 25% is offered, only 20% of the students make a shift to the secondpreferred drink. But, the increasing of discount to 40% results in the students shiftingincreasing to 56%. Thus, considering that more than 50% of the students made a shiftwith 40% price discount in their second preferred drink, hence students are not very loyalin terms of beverages.5)In order to highlight the difference in behaviour of international and domestic students, itwould be worthwhile to compare the respective scatterplots between price and quantityconsumed for both the groups. This is as illustrated below.
Assignment on Quantitative Methods_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Quantitative Methods Assignment (Doc)
|5
|1016
|323

Beverage Preferences of USC Students: Analysis of International and Domestic Students
|9
|1289
|192

BAC21 Group Research Project
|9
|1289
|66

Analysis of University Student Beverage Preferences and Consumption Habits
|8
|1332
|282

Data Analysis Report on Market Research
|10
|1990
|180

Intake Details of Beverages of USC University Students in BAC21 course
|12
|4509
|362