Develop null and alternative hypotheses

Assignment Help Marketing Management

Reference no: EM13729347

Questions:

1. Do general customers in the sample prefer more fashionable lifestyle (Life_fsh) than quality of the merchants (One_qual) they buy?

a. Write up your hypothesis for this question,

b. Select a tool to test the hypothesis (you may want to use the Select Case command to select cases for only one store if you want to compare to the population-eg to select JCPenney, use DataàSelect CasesàIf JCPenney > 2. We did not learn Select Case command in class before, so if you use the whole sample, it will be okay.) and,

c. Interpret the findings/output in words, particularly with respect to the null hypothesis and a managerial conclusion.

2. Is the average shopping frequency to Nordstrom about once or twice per year (µ = 2)?

a. Write up your hypothesis for this question,

b. Select a tool to test the hypothesis, and

c. Interpret the findings/output in words, particularly with respect to the null hypothesis and a managerial conclusion.

3. Segment the market for JCPenney and Nordstrom stores by describing either store's target market respectively (or significant demographic, psychographic, or behavioral features of their frequent shoppers). Try to find as many significant features as possible.

a. Develop null and alternative hypotheses for each of your prediction (such as Null Hypothesis: "Nordstrom customers' shopping frequency is independent of their hattitude toward quality"; Alternative Hypothesis: "Nordstrom customers' shopping frequency is dependent of their attitude toward quality").

b. Select appropriate tools (statistical tests) to test the hypotheses above,

c. Interpret the findings/output in words, particularly with respect to the null hypothesis and a managerial conclusion. (If you have a group of similar tests, you may summarize the overall findings and attach only one complete test result to the write-up).

d. Based on the findings, do you think the two stores are head-on competitors? Explain why.

e. Regarding the managerial implication of these analyses, create a value proposition statement or a tag line for the two stores-JCPenney and Nordstrom (based on your findings regarding customers' demographic, psychographic, or behavioral features).

Reference no: EM13729347

Questions Cloud

Explain the importance of the ceteris paribus : Explain the importance of the ceteris paribus or "other-things-equal" assumption - example of a positive economic statement and one example of a normative economic statement.

Face value and yield to maturity : Calculate the price of Bond A 2 years from now if it has a 7% annual coupon matures in 12 years and has $1000 face value and yield to maturity is 9%.

Sort the data by location in alphabetical order : In the Subtotal worksheet, sort the data by Location in alphabetical order and then by Title in Alphabetical order

Suppose a real estate investment offers cash flows : Suppose a real estate investment offers cash flows of $100,000 per year for five years. At the end of five years, the building is expected to be worth $1,100,000. What is the most you should pay for the investment if your opportunity cost of capital ..

Develop null and alternative hypotheses : Develop null and alternative hypotheses for each of your prediction (such as Null Hypothesis: "Nordstrom customers' shopping frequency is independent of their hattitude toward quality"; Alternative Hypothesis: "Nordstrom customers' shopping freque..

Analyze the business problem you want to solve : First analyze the business problem you want to solve, and put the results into a requirement definition document. The document describes business rules by identifying what business data you want to keep track of and how those data are related to e..

Unknown in health care organizations : How can managers plan for the unknown in health care organizations?

Define marketing and identify the diverse factors : Define marketing, and identify the diverse factors that influence marketing activities. Identify the major trends that influence world trade and global marketing for large and small companies alike

What you have learned about the decision-making situation : Assignment: Project: Decision Situation-Summarize what you have learned about the decision-making situation

User Account

All Pages