Cheap Custom Essay:assess the data and determine the most likely customer based on the ratings.
Three hundred consumers between 21 and 49 years old were randomly selected. After sampling a new wine cooler, each was asked to rate the appeal of the phrase: “Not sweet like wine coolers, not filling like beer, and more refreshing than wine or mixed drinks” as it relates to the new wine cooler. The rating was made on a scale from 1 to 5, with 5 representing “extremely appealing” and with 1 representing “not at all appealing”.
As a manager overseeing the development of the concept, you bottle the wine cooler and placed it into distribution in one test store.
Your manager has asked you to assess the data and determine the most likely customer based on the ratings. Additionally, your manager would like you to review sales in the test store.
- Estimate the probability that a randomly selected 21 to 49 year old consumer:
- Would give the phrase a rating of 5
- Would give the phrase a rating of 3 or higher
- Is in the 21-24 age group
- Is a male who gives the phrase a rating of 4
- Is a 35 to 49 year old who gives the phrase a rating of 1
- Based on the probabilities for the ratings of 4 and 5, which age/gender demographic would be the best target audience for the new concept?
