What are the benefits of hypothesis testing.

Attached is Quiz #1. To design the charts you can use Excel or you can do by hands and then scan the page. Send me the file in Doc, Pdf or Excel.

 

 

 

QUIZ 1 BUSI 401

STUDENT NAME:_______________________

Question:

1.      A motorist is using the AHP to choose a new car from three possible models: an Arrow, a Bestmobile and a Commuter. The choice will be based on just two attributes, Cost and Style.

When asked to compare the cost of the cars, the motorist makes the following statement: On cost, the Bestmobile is “weakly preferred” to the Arrow, but the Arrow is “weakly preferred” to the Commuter. Also the Bestmobile is “extremely preferred” to the Commuter.

On style, the Arrow is “very strongly preferred” to the Bestmobile, but the Commuter is “weakly preferred” to the Arrow. Also the Commuter is “extremely preferred” to the Bestmobile.

a)      Construct a hierarchy to present the decision problem (using a computer or by hands and then scanning the page) (10% of your grade)

 

2.      Imagine you have won a holiday for two people in a magazine competition and you have been given the choice of five holiday’s destinations. The names and details of these destinations are shown below. Use the method of Even Swaps to determine which destination you would choose on the basis of the information that has been supplied. (20% of your grade)

Destination	Flying time (hours)	Typical sunshine (hours per day)	Time to walk to beach (minutes)	Size of the place	No. cultural attractions nearby	Night life
Alucia	4	8	0	Large town	3	Average
Bellonia	9	6	5	Village	1	Quiet
Catin	3	5	12	Isolated	0	Quiet
Dorania	5	9	20	Large town	5	Lively
Estinet	2 Refer to the cereal company scenario described (BOTH DOCS ATTACHED BELOW) in Module 4 in which you are to assume that a breakfast cereal manufacturer wants to learn more about the breakfast habits and preferences of the general population so that, as they evaluate marketing opportunities in different metropolitan areas, they will be better able to predict the success of different approaches to their marketing mix. You have decided to use a survey to gather the data you need. As part of the project, you would like to test several hypotheses you have developed regarding the company’s marketing mix.  Your marketing research firm’s manager has asked for certain details of your plan for the project. Your response must include: An explanation of the advantages and the disadvantages of survey methods. A description of the situational characteristics, the task characteristics and the respondent characteristics that are factors that should be considered when selecting the survey research design for a marketing research project. Your recommendation for use of either a person-administered survey method, a telephone-administered survey method, an e-mail survey, or an Internet survey method and the justification for your choice. Statements of each of the four hypotheses to be tested (one for each element of the marketing mix). A statement of the null hypothesis to accompany each hypothesis statement. An explanation of the benefits of hypothesis testing. A description of the statistical technique that should be used for testing each of the hypotheses and an explanation of why that technique should be used. An example or description of a perceptual map and a supported recommendation of whether perceptual mapping should be part of the project. Write a 6- to 8-page paper in Word format. Apply APA standards for writing style to your work.	5	2	Village	0	Average

 

3.      A chemical company is expanding its operations and disused woolen mill is to be converted into a processing plant. Four companies have submitted designs for the equipment which will be installed in the mill and a choice has to be made between them. The manager of the chemical company has identified three attributes which he considers to be important in the decision: cost, environmental impact, and reliability. He has assessed how well each design performs on each attribute by allocating values on a scale from 0 (the worst design) to 100 (the best). These values are shown below, together with the costs which will be incurred if a design is chosen.