Question: Study the information provided below and answer the following question. After an extensive review of the literature on tourism operations, an organisational researcher has found
Study the information provided below and answer the following question. After an extensive review of the literature on tourism operations, an organisational researcher has found inconclusive findings about the effect of the level of customer satisfaction on financial performance in the tourism industry across Southern Africa. In this regard, the organisational researcher is investigating the impact of customer satisfaction on the financial performance (i.e., quarterly revenue) of A2Z frontiers Inc., a hospitality firm operating in a Southern African country. As part of the data collection for the study, the researcher measured the quarterly aggregate customer satisfaction index (CSI) of the firm's customers and the firm's quarterly revenue for the period, 2015 - 2019. The customer satisfaction index and the quarterly revenue were measured on interval and ratio levels respectively. Table 2.1, below, shows the research data gathered by the researcher. Table 2.1: Data on Quarterly Customer Satisfaction (%) and Quarterly Revenue Period Quarterly customer satisfaction (%) Quarterly revenue, R Y1Q1 54 200 000 Y1Q2 64 350 000 Y1Q3 52 300 000 Y1Q4 58 280 000 Y2Q1 62 290 000 Y2Q2 65 300 000 Y2Q3 68 302 000 Y2Q4 69 310 000 Y3Q1 71 330 000 Y3Q2 65 280 000 Y3Q3 62 207 000 Y3Q4 64 300 000 Y4Q1 60 250 000 Y4Q2 58 270 000 Y4Q3 64 280 000 Y4Q4 66 275 000 Y5Q1 66 295 000 Y5Q2 64 305 000 Y5Q3 69 310 000 Y5Q4 63 304 000 The researcher used IBM SPSS Statistics 25 to undertake the data analysis and the output in Figure 2.1 to Figure 2.4, below, was generated. Figure 2.1: A scatter plot of the Customer Satisfaction Financial Performance Model Figure 2.2: Regression Model Summary of the Customer Satisfaction Financial Performance Model Model Summary b Model R R Square Adjusted R Square Std. Error of the Estimate 1 .522a .273 .232 31273.718 a. Predictors: (Constant), Quarterly_customer_satisfaction b. Dependent Variable: Quarterly_revenue Figure 2.3: Results of ANOVA for the Customer Satisfaction Financial Performance Model ANOVAa Model Sum of Squares df Mean Square F Sig. 1 Regression 6606981818.00 1 6606981818.00 6.755 .018b Residual 17604818182.00 18 978045454.50 Total 24211800000.00 19 a. Dependent Variable: Quarterly_revenue b. Predictors: (Constant), Quarterly_customer_satisfaction Figure 2.4: Regression coefficients for the Customer Satisfaction Financial Performance Model Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 45590.910 93106.517 .490 .630 Quarterly_customer_satisfaction 381818.182 146904.321 .522 2.599 .018 a. Dependent Variable: Sales 2.1 Formulate a suitable title for the researcher's study. (3 marks) 2.2 Specify the independent and dependent variables in the researcher's study. (2 marks) 2.3 Formulate the null and alternative hypotheses for the study. (2 marks) Identify the main statistical analysis conducted by the researcher and, using standard reporting format, provide a comprehensive interpretation of the output of the statistical analysis. 2.4 (7 marks) Highlight the main finding from the study and provide one recommendation that will enhance the goodness-of-fit in a future research. 2.5 (4 marks) Proffer one practical recommendation to the management of A2Z frontiers Inc. on how best to leverage customer satisfaction for improved financial performance.
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