Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Unlimited Inc. is a furniture company that designs and manufactures high-end products for home and office use. Their main selling point relates with the perceived

  1. Unlimited Inc. is a furniture company that designs and manufactures high-end products for home and office use. Their main selling point relates with the perceived quality of the product. The companys CEO wants to make sure that customers continue to perceive this, and has asked you to measure and predict customers level of perception towards the products quality based on a set of measures.

However, the CEO is also concerned that some of these measures might need to be readjusted to make sure that the company remains profitable.

  1. Conduct the appropriate statistical analysis to predict customers perception of the products quality
  2. Predict what that perception might be by changing the following variables:
    1. Average products price increases to $3800
    2. Average products price increases to $3800 and average carpenters experience decreases to 15
    3. Average products price decreases to $2800, average working hours decreases to 10, and average carpenters experience decreases to 10
Customer's Quality Perceptions (1=low, 10=high) Average product's price ($) Average # working hours Average raw material costs Average carpenter's expertise (years)
6 2694 17 420 23
9 4811 12 526 30
9 4800 12 375 30
8 4600 18 376 30
7 3570 18 326 24
5 958 15 515 4
9 3808 12 334 18
8 4600 13 511 27
10 4826 16 480 26
7 5679 18 386 30
3 618 12 376 5
8 5004 20 527 28
9 2583 14 310 28
3 692 16 457 1
10 5484 13 463 29
6 2462 15 433 21
7 3949 18 314 24
10 5617 18 419 29
10 4276 14 523 23
2 597 18 507 5
8 3303 17 524 26
9 5009 20 515 29
10 4963 14 406 30
2 883 17 545 7
6 2019 14 455 17
10 3517 14 523 15
7 1815 15 441 12
6 2212 18 525 12
10 5846 15 443 30
4 1970 14 417 13
3 814 16 527 7
9 3050 18 403 27
5 1861 16 316 13
6 2680 12 318 14
9 4603 15 397 30
9 4881 12 320 29
3 915 18 366 6
8 4800 19 464 28

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Labour Finance And Inequality

Authors: Suzanne J. Konzelmann, Simon Deakin, Marc Fovargue-Davies, Frank Wilkinson

1st Edition

1138919721, 978-1138919723

More Books

Students also viewed these Finance questions