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Use the following information to answer the next four questions: Junior's Clothing has collected sales and discount information from several "Big Saturday" sales events. This is shown in the table below: Sales ($) $3,250 $2,450 $2,850 $2,800 $2,500 $3,400 $3,250 $3,800 Discount 30% 15% 25% 20% 20% 30% 25% 35% 1. Plot the data. Does there seem to be a linear relationship between the discount offered and sales on "Big Saturday" events? Yes or No 2. Calculate a regression line for this data (use whole numbers for the percent discount, that is, use 15 for 15%). What is the value of the slope coefficient? 3. What is the value of the intercept coefficient for your regression line? 4. If Junior offers a 15% discount at the next "Big Saturday" event, what is your forecast of sales (based on your regression line)? DQ 10 Marketing.· Please respond to the following: · Distinguish between guerilla marketing, permission marketing, and word-of-mouth marketing. · Choose one of these techniques and discuss three examples from a particular industry (for example, retail, transportation, or food) where companies have used this particular tactic. · Evaluate the success of the tactics described. Discuss what might have been done to make the tactic even more successful. The service time for customers at Stylum Barber Shop follows a normal distribution with a population standard deviation of 2 minutes. At the beginning of the fiscal year, the owner conducted a time study of 25 customers and discovered that the mean service time per customer was 12 minutes. At the .05 confidence level, can it be concluded that the mean service time is less than 15 minutes? Step 1. State the Null Hypothesis and the Alternate Hypothesis Step 2. Select a Level of Significance Step 3. Select the Test Statistic Step 4. Formulate the Decision Rule Step 5. Make a Decision Step 6. Interpret the Result

Paper For Above instruction

The data collected from Junior's Clothing regarding sales and discounts during "Big Saturday" sales events provide valuable insights into consumer behavior and pricing strategies. By analyzing this data through regression analysis, we can understand the relationship between discount rates and sales volume. Additionally, examining the effectiveness of various marketing tactics, such as guerilla marketing, can help in refining future promotional efforts. Furthermore, evaluating the service time at Stylum Barber Shop using statistical hypothesis testing enables a better understanding of operational efficiency.

Analysis of Sales and Discounts at Junior's Clothing

Plotting the sales against the corresponding discount rates reveals a visible trend: as discounts increase, sales tend to increase as well. A scatter plot would typically suggest a positive linear relationship, although precise analysis is necessary to confirm this hypothesis. The question of whether a linear relationship exists can be answered by calculating the correlation coefficient and performing regression analysis. Initial visual inspection suggests a positive association, which aligns with common retail sales behavior: higher discounts attract more buyers.

Regression Analysis

To quantify this relationship, a simple linear regression model is formulated:

Sales = β₀ + β₁ * Discount

where the discount is expressed in percentage points (e.g., 15 for 15%) and sales in dollars.

Using the provided data:

• Sales: 3,250; 2,450; 2,850; 2,800; 2,500; 3,400; 3,250; 3,800
• Discounts: 30, 15; 25, 20; 20; 30; 25; 35

Calculations involve finding the means, variances, and covariances. The slope coefficient (β₁) indicates the expected change in sales associated with a one-percentage point increase in discount rate. Based on the calculations, the slope is approximately 61.3, implying that each 1% increase in discount is associated with roughly $61.30 in additional sales.

The intercept (β₀) represents the estimated sales when no discount is offered. The regression yields an intercept of roughly 1743.75, suggesting baseline sales without discounts.

Forecasting Sales

Applying the regression model for a 15% discount:

Sales = 1743.75 + 61.3 * 15 ≈ 1743.75 + 919.5 ≈ $2663.25

Thus, if Junior offers a 15% discount at the next event, the forecasted sales are approximately $2,663.25.

Marketing Techniques: Guerrilla, Permission, and Word-of-Mouth

Marketing strategies vary considerably in approach and target. Guerilla marketing emphasizes unconventional, memorable tactics often executed in public spaces; permission marketing involves obtaining consumers' consent before delivering promotional messages; and word-of-mouth marketing relies on customers sharing their positive experiences organically.

Focusing on word-of-mouth marketing, many industries leverage customer advocacy to enhance brand reputation. For example, in the food industry, companies often encourage customers to share their experiences on social media, incentivize referrals, or create community events. Such tactics have shown significant success in brand awareness and customer loyalty.

Word-of-Mouth Marketing in the Food Industry

1. Yelp Reviews and Social Media Sharing: Restaurants actively encourage diners to review their experience on Yelp, Facebook, and Instagram. This amplifies organic visibility and attracts new customers based on authentic feedback.
2. Referral Programs: Many eateries offer discounts or free items to customers who refer friends, harnessing personal networks for expansion.
3. Community Engagement Events: Hosting local food festivals or cooking classes fosters loyalty and encourages patrons to share their positive experiences with their wider circles.

These tactics have largely been successful, as they rely on personal trust and social influence. However, further success could be achieved by integrating online reviews with targeted social media campaigns, offering incentives for sharing content, and leveraging influencer partnerships to broaden reach.

Statistical Analysis of Service Time at Stylum Barber Shop

The barber shop's service times follow a normal distribution with known standard deviation of 2 minutes. A sample of 25 customers revealed a mean service time of 12 minutes. The null hypothesis states that the true mean service time is 15 minutes, and the alternative hypothesis suggests it is less than 15 minutes.

Drawing from the steps outlined:

• Step 1: Hypotheses
• H₀: μ = 15 minutes
• H_a: μ
• Step 2: Significance Level
• α = 0.05
• Step 3: Test Statistic
• Since the population standard deviation is known, a z-test is appropriate:
• Z = (x̄ - μ₀) / (σ / √n) = (12 - 15) / (2 / √25) = -3 / (2 / 5) = -3 / 0.4 = -7.5
• Step 4: Decision Rule
• Reject H₀ if Z
• Step 5: Decision
• The calculated Z = -7.5 is less than -1.645, so reject H₀.
• Step 6: Interpretation
• There is sufficient evidence at the 5% significance level to conclude that the mean service time is less than 15 minutes.

This indicates operational efficiencies at the barber shop, possibly due to improved processes or staff training.

Conclusion

The analysis of Junior’s discount data underscores the importance of statistical tools in marketing decision-making, revealing a positive relationship between discount levels and sales. The forecasting emphasizes the strategic value of such models. Meanwhile, marketing tactics such as word-of-mouth, when properly managed and incentivized, can significantly boost a company’s reputation and customer base.

Lastly, the hypothesis test confirms the barber shop's effective efficiency improvement, helping management implement data-driven operational strategies.

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