BUS105: Factors Influencing Ingredient X and Customer Pay Analysis

This report analyzes the factors influencing customer willingness to pay for a new ingredient, Ingredient X, for Sunny Cruisers. The study uses a sample of 50 customers and employs descriptive statistics, confidence intervals, and hypothesis testing to examine the relationship between the amount of Ingredient X, the price customers are willing to pay, the ship they are traveling on, and their country of origin. The main findings reveal a positive relationship between the amount of Ingredient X and the willingness to pay, as well as a relationship between the country of origin and the ship. The report also includes discussions on demographics and histograms, providing a comprehensive analysis of the survey data and its implications.