CONFIDENCE INTERVALS AND HYPOTHESIS TESTING

Description

Module 2 – Case CONFIDENCE INTERVALS AND HYPOTHESIS TESTING Assignment

Overview You are a consultant who works for the Diligent Consulting Group. In this Case, you are engaged on a consulting basis by Loving Organic Foods. In order to get a better idea of what might have motivated customers’ buying habits you are asked to analyze a customer database. You realize the database is still incomplete, so you recontact these customers and collect additional information. The database now includes “Annual Amount Spent on Organic Food,” “Age,” “Annual Income,” “Number of People in the Household,” and “Gender.” Case Assignment Using Excel, generate descriptive statistics for these new variables: “Annual Income,” “Number of People in the Household,” and “Gender.” You have much more information about the customers than you did in the Module 1 Case. After you have reviewed the results generated above, write a report to your boss that briefly describes the results that you obtained. Please include the following in your report: 1. The descriptive statistics you generated. 2. Your interpretation of the descriptive statistics and any visual displays or other tools you used to analyze the data. 3. Your recommendation on how this new data might be used for marketing purposes.

4. Comment on whether this new recommendation is different than the one you provided in the Module 1 case. If so, explain why it is different. 5. Compare your statistical results from the new variables with those of the industry. 6. Lastly, your client argues that the amount of money spent on organic food is the same for females and males. You decide to test this at the α = 0.10 level, using a two-sample hypothesis test. You don’t know the population standard deviation, but you assume they are the same. Run this test in Excel and interpret the results. Can you support your client’s claim? Data: Download the Excel-based data file: BUS520 Module 2 Case. Assignment Expectations You can again search the professional market research reports from the IBISWorld database to conduct the industry analysis. IBISWorld Overview (n.d.). IBISWorld, Inc., New York, NY.  IBISWorld Forecast (n.d.). IBISWorld, Inc., New York, NY. IBISWorld Data and Sources (n.d.). IBISWorld, Inc., New York, NY. IBISWorld Navigation Tips (n.d.). IBISWorld, Inc., New York, NY. Written Report Length requirements: 4–5 pages minimum (not including Cover and Reference pages). NOTE: You must submit 4–5 pages of written discussion and analysis. Provide a brief introduction to/background of the problem, similar to the introduction/background you provided in Module 1 Case. Provide a brief description of organic food industry and target market characteristics such as their demographics, lifestyles, and shopping behaviors. This should be similar to the description you provided in Module 1 Case, but now you have more variables that you want to ensure you are able to compare to the industry data. Provide a written analysis that addresses each of requirements listed under the “Case Assignment” section. Write clearly, simply, and logically. Use double-spaced, black Verdana or Times Roman font in 12 pt. type size. Please use keywords as headings to organize the report. Avoid redundancy and general statements such as “All organizations exist to make a profit.” Make every sentence count. Paraphrase the facts using your own words and ideas, employing quotes sparingly. Quotes, if absolutely necessary, should rarely exceed five words. Upload both your written report and Excel file to the Case 2 Dropbox.