Understanding Market Research: Types and Methods
Understanding Market Research
Market research helps businesses understand consumer needs before developing and producing a product. Examples include primary and secondary research.
Quantitative Data
Quantitative data provides information about the quantity of something. For example, how many customers buy cola?
Qualitative Data
Qualitative data provides information about opinions or judgments. For example, why do customers like cola?
Sampling Methods
Sampling methods are used to select a representative
Read MoreProbability and Statistics: Solved Problems
Assignment A
1. Electrical Unit Failure Analysis
An electrical unit consists of four components, each subject to failure. We observe this unit at a specified time to determine which components are working and which have failed. What is the sample space associated with this random experiment?
Let:
denote working, and
denote failed.
The sample space is:
2. Set Operations
Suppose the sample space is:
.
Let:
,
,
and
.
Determine the sets:
Here:
Thus,
So,
3. Natural Numbers Divisibility
Let:
,
the set
Lobende SRL Discount Policy: Maximize Your Savings
Lobende SRL Discount Policy
The discount policy of Lobende SRL is as follows:
If a client makes purchases exceeding €1,000 within a month, a 10% discount is applied, unless they are considered a bad-paying customer. In that case, monthly purchases must exceed €2,000 to qualify for the 10% discount. To further increase market penetration, the aforementioned discounts are increased by 10% for all internal customers. Finally, a 15% discount is applied to customers who purchase more than €2,000,
Read MoreMastering Math Operations: Signs, Powers, and Roots
Rules of Signs: Multiplication and Division
- (+) × (+) = (+) Positive multiplied by positive equals positive.
- (+) × (−) = (−) Positive multiplied by negative equals negative.
- (−) × (+) = (−) Negative multiplied by positive equals negative.
- (−) × (−) = (+) Negative multiplied by negative equals positive.
- (+) ÷ (+) = (+) Positive divided by positive equals positive.
- (+) ÷ (−) = (−) Positive divided by negative equals negative.
- (−) ÷ (+) = (−) Negative divided by positive equals
Variables, Hypotheses, Measurement, and Research Purposes
Variables and Hypotheses
An independent variable is thought to influence, affect, or cause variation in another variable. A dependent variable is thought to depend upon or be caused by variation in an independent variable.
Antecedent Variable: An independent variable that precedes other independent variables in time. It could affect the independent variable and alter its relationship to the dependent variable.
Intervening Variable: If the relation between X and Y is not spurious, then the intervening
Read MoreCircumference, Ellipse, Parabola, and Hyperbola
Properties of the Circumference
The circumference is generated by the intersection of a cylinder or a straight circular cone with a plane. Geometrically, the circumference has several elements, such as:
- Center: A fixed point equidistant to all points of the circumference.
- Radius: The distance of the segment that joins the center of the circumference to any of its points.
- Chord: The segment that joins any two points of the circumference.
- Diameter: The chord that passes through the center and has the maximum