Question

13. Imagine that a new manager starts at the Einstein Bros. located on the ground level of the Administration Building. Trying to better understand the nature of that business at JCU, the new manager enlists your services. The new manager gives you the following mission. Identify four questions that can be analyzed using quantitative methods based upon data that Einstein Bros. would collect and also identify what type of test would be appropriate to answer the question 2. 3 4.

Answer 1

1) Which types of products/services offered by Einstein Bros. are more famous - collect customer ratings for different kinds of products/services offered by the firm, and compare their mean ratings to identify the most liked ones. This can be done by carrying out a single factor ANOVA for multiple means.

2) Is the age of the product/service related to the consumer ratings? - consider the products/services and their ages. Collect the data for the average ratings of those products/services. Carry out a regression between ages and their ratings to understand if older products are more liked or vice versa, or whether they are not correlated. Significance test for slope parameter can be carried out to test the strength of relationship.

3) Age of the product/service and the size of the team: Study the size of the team working on different products/services. A simple linear regression would, again, help understand if there is any linear relationship between the two.

4) Studying product prioritizations: Collect data on products and their opinions from prospective customers before launching the products. This will help understand which products must be used more. Here, we can study the relationship between effort required for a product and its response judged from the target market, using correlation analysis, to understand if lengthier projects or shorter projects are expected to trigger more demands in the market.