Statistical Analysis : Determining The Market Value Of New Fragrance

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Statistical Analysis in determining the Market Value of New Fragrance Name -(Jatin Kalchuri) Due date-(14/04/2015) Lecturer and Tutor-( Dr Zhiming Cheng) Word count – 3000 words ( excluding the tables ) Table of Contents Contents Page Number 1. Executive Summary 3 2. Business Problem 3 3. Statistical Problem 3 4. Analysis 4 4.a) Confidence Interval 5 4.b) Hypothesis Testing 7 5. General Conclusion 14 6. Implications 14 7. References 15 Executive Summary The aim of this study is to determine the market value for the new fragrances so the company can properly price its proposed new product. For the…show more content…
This study makes use of simple random sampling. Simple random sampling selects the individuals randomly and every single individual must have an equal probability (Hughes and Sharrock, 2007; Powell and Connaway, 2010).Thus, each and every product chosen from the market for the survey has equal probability. The sampling unit of this study is Sanitary Product sector in Australia. The target population in this research for the quantitative study is the sanitary products in Australia. The sample size for the quantitative study is for 95 products in the market. This research makes use of both the primary and secondary data. The primary data for this research is collected with the help of surveys. This particular research makes use of closed ended questions in order to collect primary data. According to Loewy and Guffey (2009), secondary data is the one which is already available and it is accessed through the external materials. The data analysis and interpretation process identifies solution to the research problem. This study makes use of the statistical technique independent sample t test, F test for testing equality of variances and one way ANOVA to test the proposed hypothesis. In this research, descriptive research design makes use of the independent sample t test. Ethics in this study is strictly followed by the researcher and also data is maintained in
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