Report the demographic and independent variables that are relevant to complete a
ID: 1177589 • Letter: R
Question
Report the demographic and independent variables that are relevant to complete a demand analysis providing a rationale for the selection of the variables. Using Excel input the data you collected in criterion one to calculate an estimated regression. Then, from the calculation provided, interpret the coefficient of determination indicating how it will influence your decision to open the pizza business. Explain any additional variables that may improve the coefficient of determination. Test the statistical significance of the variables and the regression equation indicating how it will impact your decision to open the pizza business. Forecast the demand for pizza in your community for the next four months in your community, using the regression equation including the assumptions that were used to create the demand. Justify the assumptions made related to the forecast. Based on the forecasting demand, determine whether Dominos should establish a restaurant in your community. Provide a rational and support for the decision.Explanation / Answer
It has been suggested that this article or section be merged with Demography . (Discuss) Proposed since July 2012. Racial demographic map of Houston, Texas, from the 2000 US census Demographics are statistical characteristics[vague] of a population. These types of data are used widely in public opinion polling and marketing. Commonly examined demographics include gender, age, ethnicity, knowledge of languages, disabilities, mobility, home ownership, employment status, and even location. Demographic trends describe the historical changes in demographics in a population over time (for example, the average age of a population may increase or decrease over time). Both distributions and trends of values within a demographic variable are of interest. Demographics are very essential about the population of a region and the culture of the people there. Contents [hide] 1 Demographic profiles in marketing 2 Generational cohorts 3 Criticisms and qualifications of demographic profiling 4 See also 5 References 6 Further reading 7 External links [edit]Demographic profiles in marketing Main article: Demographic profile Marketers typically combine several variables to define a demographic profile. A demographic profile (often shortened to "a demographic") provides enough information about the typical member of this group to create a mental picture of this hypothetical aggregate. For example, a marketer might speak of the single, female, middle-class, age 18 to 24, college educated demographic. Researchers typically have two objectives in this regard: first to determine what segments or subgroups exist in the overall population; and secondly to create a clear and complete picture of the characteristics of a typical member of each of segments. Once these profiles are constructed, they can be used to develop a marketing strategy and marketing plan. The five types of demographics for marketing are age, gender, income level, race and ethnicity.