Topic: Quantitative method
Details: everything in the assignment
Problem 1: Phablets Marks available in question:
The sales of hybrids between smartphones and tablets (nicknamed Phablets) are set to rise in the next year as consumers move away from the smaller tablets and switch instead to the large screen smartphones. It was initially thought that these would not be particularly popular as many find them an awkward size to use as a phone but as the trend for streaming TV and using smartphones for gaming increases these hybrids are becoming a popular solution.
There are many variables which could potentially influence the price of a Phablet. For example, the display resolution, memory capacity, camera pixels could all influence the price. As the device also functions as a mobile phone, variables such as battery life between charges and device weight could be important. The aim of this study is to select one variable which could potentially affect the price of a Phablet and analyse this using regression and correlation.
Data Collection
i) Choose one variable that may affect the price of a Phone / Tablet hybrid
In regression analysis we often have to deal with the issue of confounding variables. We control these as far as possible.
ii) Explain what a confounding variable is, give an example in this case of a variable which could potentially act as a confounding variable between price and your selected variable. How would you control the effect of this?
iii) Collect prices of a sample of phablets to analyse (you will need price and your chosen variable). You can find prices and technical specifications on websites such as Amazon.co.uk.
iv) Explain and justify your sampling approach including:
a) Which sampling methodology you have used and why (include references).
b) How many Phablets you have used in your analysis
c) Which types have been excluded and why
d) Are there are any limitations in the data collected?
Analysis of your data
v) Use regression and correlation analysis with accompanying graphs to analyse your chosen variable. Interpret the analysis results.
Conclusion
vi) Explain whether or not your selected variable is a good predictor of Price. If it is not a good predictor, explain why you think that might be the case. How could the predictions be improved?
Size for Problem 1: Maximum 6 sides of A4, including graphs (excluding data tables which should be added as an appendix).
Problem 2: Is the packing/mixing machine working correctly
a) A company makes sweets at their factory in Durham. They have a packing machine which dispenses multi-coloured sweets into a packets. The sweets come in a range of colours including purple. Market research has shown that the purple sweets are popular and so should have a reasonably high proportion in each packet of sweets. The colour mix is set so that 18% of the sweets should be purple.
You will be given a packet of sweets to test, count the total number sweets in the packet and the number of purple sweets in your packet.
I. Calculate the proportion of purple sweets in the packet
II. Calculate a 95% confidence interval for the true proportion of purple sweets in the mix
III. Comment on what your result shows in the context that 18% of the sweets should be purple.
b) Carry out a hypothesis test to test the idea that the 18% of the sweets are purple.
I. Describe the test in full (including the Null and Alternative Hypothesis, calculation, critical value etc.) Write a conclusion including the test result and consider the possibility of a Type I or Type II errors.
II. Discuss the assumptions of the hypothesis test that you have carried out. Discuss whether your data meets those assumptions.
Size for Problem 2: Maximum 3 sides of A4, including data table.
Marking Scheme
• Calculation of confidence interval and a comment on the result
• Introduction and hypothesis test, which follows and describes all the key steps of the hypothesis test
• Give appropriate advice to the manufacturer taking into consideration the outcome of the hypothesis test and any problems that you believe may affect the test. Discuss the possibility of Type I or Type II errors
• Discuss the key assumptions of the hypothesis test and whether the data meets the assumptions.
Essay: Kano Analysis
800 words
Kano analysis (the Kano Model) was developed in the 1980's by Professor Noriaki Kano. It is a straightforward method of identifying customer needs and preferences using qualitative and quantitative data. Understanding customer preferences can help businesses to prioritise and focus their efforts in the areas that will make the customers happy.
In your essay briefly introduce Kano Analysis, illustrating its use with a business example and discussing how it is interpreted. Kano Analysis was developed over 30 years ago so has been in use for quite a while, consider and discuss whether the Kano Model is still a relevant and useful tool for current businesses.
You need to use a minimum of 3 referenced sources. You may use a mixture of journals, books and web sources. If you are using sources from the web ensure that these are of good quality.
Marking Scheme
• Introduction: introducing the essay, outlining the purpose of Kano Analysis and the Kano categories of customer requirements.
• Discussion: including a business example and a discussion on whether Kano Analysis is still a relevant tool for modern business.
No# of Pages: 4 pages (1,000 words)
Paper Style: Harvard
No# of Sources Required: 6
Language: English (U.K)