This report discusses recent car survey data with the aid of statistical tools and software like Excel. It considers different hypotheses and depicts the data with graphical presentation. The report analyses the impact of the findings and provides recommendations to enhance the present situation. The business problem lies within the relation between age, education years of the buyer, and income with the car purchasing preference. The statistical problem is analysed with the help of statistical tools and theories. The report considers different age groups, income groups, and education years to determine the consumer profile for different car models.

ECON940 Statistics for Decision Making Assignment

The assignment requires students to prepare a business report using statistical techniques and software to analyze real-world data and answer related questions.

This report discusses recent car survey data with the aid of statistical tools and software like Excel. It considers different hypotheses and depicts the data with graphical presentation.

Statistics for Decision Making - Desklib

Statistics for Decision Making

The report analyzes the business problem related to designing marketing strategy of different luxury cars. The three chosen car models are BMW, Lexus and Mercedes. Along with choice of cars, customers’ profiles are considered in terms of age, income and education years.

Statistics and Probability

The business report briefly analyzes profile of customers buying three different models of car. The three chosen car models are BMW, Lexus and Mercedes. Households are surveyed on the scale of age, income and education years. The business problem of car sellers is addressed in light of statistical tools. In order to reach a firm conclusion about customers’ profile 420 samples are considered. It has been observed that buyers of Mercedes are older, have a relatively higher income and are more educated. The claim that average age, income and education years are independent among the buyers of three different luxury cars are supported based on ANOVA test result. In the chosen sample, 36% people prefer Mercedes and 64% prefer either Lexus or BMW. The fitted binary logit model indicates age, income and education years have significant positive influence on preference of Mercedes cars. The Mercedes car sellers thus should target richer, older and educated people to their car model.

This report analyzes the demand for three different luxury cars - BMW, Lexus, and Mercedes. Customer preferences are evaluated based on their age, income, and education years. ANOVA tests and logistic regression are performed to identify statistical differences and tendencies among the three different buyers group of three different luxury cars.

Hartpury University and Hartpury College

Statistics for Decision Making - Analysis of Luxury Car Buyers' Preferences

This paper discusses results of a customer segment analysis of the luxury cars BMW, Mercedes and Lexus on behalf of the Automobile Association to aid businesses in their business plans. Factors such as age, annual income and education were taken to be factors of interest in the profiling of customers.

The report presents an analysis of the demand for luxury cars based on age, income and education. The survey was conducted on 420 people for BMW, Mercedes and Lexus. The results show that Mercedes is preferred by most people followed by the preference for Lexus and BMW. Younger people having lower annual income and lesser years of education have been found to be preferring BMW. On the other hand, older people having much higher annual income and more years of education have been found to be preferring Mercedes.

This report analyzes the marketing strategies and customer preferences of luxury car brands BMW, Lexus, and Mercedes. The report includes data analysis and descriptive statistics on the age, income, and education of buyers. The marketing strategy of the brands is discussed, along with implications for policy-making and competition in the market.

Statistics for Decision Making

Statistics for Decision Makinglg...

Statistics for Decision Makinglg...

Statistics for Decision Making - Analysis of Luxury Car Buyers' Preferenceslg...

Statistics for Decision Makinglg...

Statistics for Decision Makinglg...

Statistics for Decision-making: Analysis of Luxury Car Brandslg...

Statistics for Decision Making

Statistics for Decision Making

Statistics for Decision Making - Analysis of Luxury Car Buyers' Preferences

Statistics for Decision Making

Statistics for Decision Making

Statistics for Decision-making: Analysis of Luxury Car Brands