A market leading Australian manufacturer of sanitary products is keen to develop new products so that the company can expand into Asian markets. Its Research and Development department has prepared a proposal to work on a new product line of razor blades. Assume you work as a data analyst for this company and you have been asked to investigate the market for shaving products. You have been asked to study the characteristics of currently available razor blades so the company will be in a better position to price its proposed new product. You have collected data for 83 products on the market. The data is in the excel file, named ‘Razors’. - Essay Prowess

A market leading Australian manufacturer of sanitary products is keen to develop new products so that the company can expand into Asian markets. Its Research and Development department has prepared a proposal to work on a new product line of razor blades. Assume you work as a data analyst for this company and you have been asked to investigate the market for shaving products. You have been asked to study the characteristics of currently available razor blades so the company will be in a better position to price its proposed new product. You have collected data for 83 products on the market. The data is in the excel file, named ‘Razors’.

A market leading Australian manufacturer of sanitary products is keen to develop new products so that the company can expand into Asian markets. Its Research and Development department has prepared a proposal to work on a new product line of razor blades. Assume you work as a data analyst for this company and you have been asked to investigate the market for shaving products. You have been asked to study the characteristics of currently available razor blades so the company will be in a better position to price its proposed new product. You have collected data for 83 products on the market. The data is in the excel file, named ‘Razors’.

  

DETAILS

  1. The answer to your assignment should be in the form of a business report.
  1. The report will provide you with an opportunity to demonstrate proficiency in integrating statistical software SPSS, Mintab, KaddStat, Excel/PhStat with a word processor, Word.

Note that you can easily import Minitab, KaddStat, SPSS, Excel/PhStat output to Word.

  1. Your report must include:
  2. a)  An Executive Summary (100 to 150 words). In this section you summarize the main conclusions of the report in business language. It should also describe the primary purpose of the study, the general methodology used, the significant findings of each section, as well as key general conclusions and recommendations.
  3. b)  A Table of Contents with page numbers
  4. c)  Business Problem as given in the question in business language.
  5. d)  Statistical problem using the language of statistics (i.e. methods you have used to do your analysis).
  6. e)  Analysis: This section should present the formulas and discuss the results from all the analyses conducted. Outline required steps and show necessary computer output. Clearly label tables and graphs.
  7. f)  General Conclusion: This section should briefly review the study, summarize the inference(s) stemming from it, and highlight the evidence supporting each inference. Where appropriate, indicate the limitations of the results. The conclusions should be written in business language and in terms of the variables under discussion.
  8. g)  Implications: bearing in mind why the study was undertaken, briefly describe the implications and consequences of the conclusions drawn. You should include your recommendations for action (based on what you have found in your study).

A market leading Australian manufacturer of sanitary products is keen to develop new products so that the company can expand into Asian markets. Its Research and Development department has prepared a proposal to work on a new product line of razor blades. Assume you work as a data analyst for this company and you have been asked to investigate the market for shaving products. You have been asked to study the characteristics of currently available razor blades so the company will be in a better position to price its proposed new product. You have collected data for 83 products on the market. The data is in the excel file, named ‘Razors’.

Column 1: GENDER 1 for Female product and 2 for Male product
Column 2: PACK Number of blades in a packet, 1 for 5-pack and 2 for 10-pack
Column 3: PRICE Price of the product in Australian dollars for a packet
Column 4: CART Number of cartridge blades, 1 for twin, 2 for 3-blade and 3 for 5-blade Column 5: MADE 1 made in France, 2 made in USA, 3 other countries

QUESTIONS

  1. Calculate descriptive statistics for the prices of male and female products. What conclusions can you draw from your analysis? Draw appropriate histograms and comment about the shape of the distribution.
  2. Calculate descriptive statistics for prices for twin, 3-blade and 5-blade cartridges. What conclusions can you draw from your analysis? Draw appropriate histograms and comment about the shape of the distribution.
  3. Calculate descriptive statistics for prices for different countries. What conclusions can you draw from your analysis? Draw appropriate histograms and comment about the shape of the distribution.
  4. Using appropriate inferential statistical techniques, determine if there is evidence that the mean price of male product is higher than mean price of female product.
  1. Using appropriate inferential statistical techniques determine if there is evidence of a difference in the mean price of twin, 3-blade and 5-blade cartridges.
  2. Using appropriate inferential statistics techniques, determine whether there is evidence of a difference in the mean prices for different countries.

Give conclusions for each of the analysis plus an overall conclusion which combine all of the above parts. Be clear in the conclusion that you draw from your analysis, and provide useful suggestions to the company’s CEO.

NOTES

v You must follow the hypothesis testing steps to test the above hypotheses.
v You must clearly specify all hypotheses and the chosen test procedures.
v Use 0.05 level of significance in your analyses and assume that we have normal distributions

and also “equal variances” of populations.
v Each part requires an output from any statistical computer package (SPSS, KaddStat, Minitab,

Excel/PHStat, R etc.). The statistical output must be provided.
v Use and interpret appropriate output from statistical computer packages such as SPSS, KaddStat, Minitab, Excel/PHStat to conduct hypothesis testing.
v Prepare and produce a Business report based on the information provided in the “Presentation of the assignment”.

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