Reference no: EM132072049

This is for my Quantitative Analysis class, Please explain it and answer it. Thank you QUESTION 1: You are a marketing manager for a company that makes ready-to-eat breakfast cereals. Your company recently initiated a loyalty program for consumers, which resulted in a large purchaser database. The brand managers are eager to mine the available data, which they can use to design more effective promotional programs. Your first step is to conduct an exploratory baseline analysis, the goal of which is to describe the buyer base and estimate basic statistical descriptors of the said buyer base. You are particularly interested in the size of individual purchases, as well as the frequency of repurchases. Describe the individual statistics you would compute and discuss what would you learn from each statistic that would be of value in designing effective promotions. Justify your answers with examples and reasoning. Comment on the postings of at least two peers. QUESTION 2: You are a marketing manager for a company that makes ready-to-eat breakfast cereals. Your company recently initiated a loyalty program for consumers, which resulted in a large purchaser database. The brand managers are eager to mine the available data, which they can use to design more effective promotional programs. The management of your organization believes that to be effective, these programs have to take into account significant cross-region (i.e., the East Coast, the West Coast, the Midwest, and the South) purchase differences. Your task is to test the hypothesis that there are significant cross-region differences in purchasing patterns. Describe how you would use hypothesis testing to validate the management