Week 1 Actiivity - Data Collection Practice
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Strayer University**We aren't endorsed by this school
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BUS 520
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Mathematics
Date
Dec 16, 2024
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Uploaded by LieutenantSwan105
Week 1 Activity – Data Collection Practice Macy Bell MAT510 - Business Statistics Dr. Leon Li October 02, 2024
A maker of energy drinks is considering abandoning can containers and going exclusively to bottles because the sales manager believes customers prefer drinking from bottles. However, the vice president in charge of marketing is not convinced the sales manager is correct. Investigate this issue using statistical analysis.1.Explain which data collection method you would use and what procedures you would follow to apply this method to this situation.2.Propose which level of data measurement applies to the data collected. Justify your answer.3.Determine whether the data is qualitative or quantitative.I would begin by gathering information from consumers who have bought energy drinks in both cansand bottles. If it were up to me, I would design surveys that clients could finish in person or online. The questionnaire would ask them how often they buy energy drinks, what influences their choice, and which container they like to use. I would also gather data regarding the demographics of my customers (age, gender, etc.). Interval-level measurement is what I would utilize to make sure the data collected is accurate. Comparing several groupings of data more precisely is made possible by this kind of measurement.The kinds of data collected would determine the analysis that would be utilized to decide whether ornot to replace containers. In order to ascertain whether there is a relationship between container type and sales statistics, statistical techniques like regression analysis and correlation would be acceptable if quantitative data (such the number of purchases) were acquired. However, descriptive statistics may be used to distill the results into relevant insights regarding consumer preferences for cans over bottle containers if qualitative data—such as customer input from surveys—was gathered.
After the study is finished, the findings can be contrasted with the can and bottle sales numbers as ofright now. This will enable management to decide with confidence whether switching containers is in their best interests.