Data Compilation for Business Decisions Essay
Description
SCENARIO
You are a Business Analyst for a company that produces energy drinks. Your manager wants you to determine if your company’s customers would prefer the energy drinks in can containers versus bottles. Given this scenario, you are required to decide how to package the energy drinks through your research. Your answers should be in the context of this company/energy drink – thus, this should be reflected in your answers. You are to compile your research and present it to your manager in a memo.
INSTRUCTIONS
This assignment does not require the use of Excel and is more of a critical thinking exercise. Answer the following questions in a memo for your manager:
- Indicate at least two data collection methods to use and a rationale for the two methods selected?
- What kind of sampling technique would you use and why? NOTE: Make sure the sampling technique you choose here goes well with the data collection method chosen in Question 1 because some sampling techniques cannot be used with certain data collection methods.
- Of the data that you are collecting, which data are qualitative, and which are quantitative? NOTE: Keep in mind what you answered in Question 1 because the type of data you are collecting would depend largely on the data collection methods chosen in Question1.
- What kind of visualization (bar chart, pie chart, frequency histogram, stem, and leaf, etc.)would you use to describe the data you are collecting, and why? NOTE: Keep in mind what you answered in Question 3 because the type of visualization you use would depend on the type of data you collected in Question 3.
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