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how statistical knowledge can be applied in business
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Analyzing Data of Gary's Car Sales
My task for this coursework is to statistically analyse the data given
to me regarding Gary's used car sales. I shall begin with looking at
the data. The following data was given to me.
No.
Price
Price when New
Age
Make
Mileage
Engine Size
1
£6,970
£11,600
3
Ford
24,000
1.6
2
£3,350
£7,100
7
Peugeot
85,000
1.1
3
£3,995
£13,800
6
Ford
52,000
2.0
4
£5,300
£16,300
6
Vauxhall
70,000
2.0
5
£6,500
£8,700
3
Fiat
24,000
1.2
6
£1,500
£8,700
9
Vauxhall
82,000
1.6
7
£995
£8,500
9
Ford
102,000
1.8
8
£3,000
£10,400
7
Vauxhall
63,000
1.7
9
£7,495
£9,770
1
Vauxhall
8,000
1.4
10
£850
£7,540
10
Ford
124,000
1.6
11
£5,595
£11,000
4
Ford
41,000
1.6
12
£4,995
£9,880
3
Ford
34,000
1.4
13
£5,595
£14,000
4
Ford
55,000
1.6
14
£4,995
£11,500
4
Rover
40,000
1.4
15
£2,600
£12,000
7
Rover
82,000
1.6
16
£1,000
£6,200
10
Nowadays, having insurance is a ‘nice thing’ to carry in case of emergency. In the U.S, most people should have at least one type of insurance. As for auto insurance, the law requires drivers to carry insurance when driving. Because of this need, the constant demand for having insurance drives many firms competing in this saturated market. In this analysis, the focus attempts to show GEICO Insurance promotional strategy in communicating its products and services to the market and identifies the effective ways in growing the brand-awareness.
“You’ve got what it takes – Salem Spirit” (Salem Lights). The RJ Reynolds Cigarette Company makes this daring claim, and it certainly sounds enticing. After all, the advertising poster depicts a group of young and vibrant professionals spending energy and fun filled time swinging on red balloons over the crisp lake, definitely experiencing the good life after having consumed this product. Even though the art of advertising has existed successfully for thousands of years in order to promote goods and services, the methods utilized have evolved significantly. Originally, vendors merely raised awareness of the existence of their offerings, but in modern times corporations actually distort the value of a product. As the Federal Trade Commission
test. I will test these using a given data set. If I need to take more
because of the line of best fit. Using line of best fit means I can
cars. I am going to sample all the cars that are two years of age and
a used car for one year. To show the different costs for cars I have made a
Breakfast products were a focal point for 1920’s advertisements. Over the century, cereal gained the reputation as the “breakfast of champions” and is the stereotypical breakfast food in the United States. The producers of the cereal trick the consumers with their box designs, having edited the photo to an unrealistic state. These changes that are made to the designs convinces the consumer to purchase their products in hopes that it will taste just as good as it looks. Moreover, the illusion on the box should not determine the consumer’s interest of the cereal.
In the early morning hours of December 14, the defendant led police on a high-speed automobile chase through several neighborhoods and on to the freeway. The chase began when the defendant ran a red light in the city limits. He and was then pursued by a member of the city police; and the chase ended nearly twenty-five minutes later when the defendant unsuccessfully attempted to exit the freeway. His actions caused his automobile to leave the pavement, cut through a wooden fence, and then come to a rest in the backyard of a residence. The defendant then got out of his car and fled from police on foot. After a 30-minute search police apprehended the defendant while he was hiding in a bush. The arresting officer stated that the defendant was
I have been single for most of my life. I have dated a few guys but never really found what I was looking for. So I thought about it, what do I really want in a man? What kind of future husband do I want? I desire a wide selection, with many options for each man. After thinking about it, I realized that my future husband is a lot like a used car.
For years Justin saved $2,000.00 to buy him a truck. He decided to go to the car lot to search for a reliable transportation. There are key components that made the difference in which vehicle he wanted to purchase; for example, space, condition, features, price and safety. Justin was interested in two trucks, but was undecided about which one to purchase. He begins to think about the pros and cons in each truck. First he wanted to see the similarities in both trucks, which were both trucks were manufactured in 1998 and have extended cabs. Also, pickup truck A and B are in drivable condition and the maintenance on the cars are not very expensive. He notices that both trucks have some difference. On one hand pickup truck A’s price tag says
A vehicle is one of the biggest purchases a person will ever make. Over the years, the prices of an automobile have increased due to the rise of inflation. Due to a price index, the price of an automobile changes over a certain period of time. Economists compare averages of automobiles to calculate the cost of each vehicle that presents itself on a car lot. When all of the above is calculated within the purchase of an automobile, it affects every area of making the automobile to selling the automobile. All of these factors are impacted together for the automobile industry as a whole.
left at the crèche they are in a safe place. In the crèche there's a
Do you really know the real reason why M&M and Geico made a commercial together? Regardless if it is required or not, insuring your vehicle is important to protect you from financial constraints when car accidents happens. People who have their license and are 18 years or older are able to get car insurance. Same goes for M&M’s part their number one goal is to get young adults and older to buy their delicious candy. The advertisement shows how Geico’s insurance one can get so much out of it for a cheap and reliable price. M&M featured Geico in their commercial and they did this for plenty of reasons. For, instance reaching their number one goal; which is more money and teaming up with a huge brand could give both businesses a big push up the ladder as well. M&M and Geicos overall purpose is to team up to sell their products candy and insurance. The commercial was
The tobacco industry consists of many competitors trying to satisfy a specific customer need. Companies such as Philip Morris, RJ Reynolds, Brown and Williamson, and Lorillard hold almost the entire market share in the tobacco industry. While each company has different advertising and marketing techniques, they all target the same customer group. Tobacco companies try their best to generate interest in their particular brand or brands. Companies market a number of attributes that usually include, but are not limited to: taste, flavor, strength, size and image in order to distinguish themselves from competitors (Business Week 179, November 29, 1999). However, all tobacco companies are satisfying the same needs. Many long-time smokers are addicted to the nicotine in cigarettes. They smoke because the nicotine is needed to help them feel normal (Focus group). Many addicts go through withdraw without nicotine. All tobacco companies have nicotine in their cigarettes, which fulfills the need of long-time smokers. Other smokers depend on cigarettes in social settings. Many smoke to look sophisticated and mature. Tobacco companies make many kinds of cigarettes that target different groups. Social smokers may perceive certain brands as more sophisticated, and therefore they shy away from other lesser-known brands. For example, a person who smoked generic cigarettes at the bar may be perceived as uncultured. On the other hand, the smoker with the Marlboro Lights may be more socially accepted because they have a brand name product (Focus group). Many types of cigarettes cater to the many markets of smokers who want to portray a certain image in social settings. Tobacco companies do not create the need to smoke, but try to generate interest in their particular brand (Hays, New York Times, November 24, 1999). Overall, the tobacco companies satisfy consumer demand for the millions of adult Americans who choose to use tobacco by providing differentiated products to different target markets of smokers.
There are four main factors influence the demand of cars. Firstly, the price of cars will affect the demand of cars. Secondly, the citizens’ income has the effect for the demand of cars. Thirdly, the government’s macroeconomic control policies will also effect the demand. Finally, the price of gasoline will affect the demand.