The traditional retail store audit is one of the most widely used marketing research tools among consumer
Question:
The traditional retail store audit is one of the most widely used marketing research tools among consumer package goods companies. It involves periodic audits of a sample of retail audits to monitor inventory and purchases of a particular product. A study was conducted to compare market share data yielded by retail store audits with two alternative, less costly auditing procedures ? weekend selldown audits and store purchases audits. The market shares of six major brands of beer distributed in eastern cities were estimated using each of the three store auditing methods. The data are provided in the accompanying table.
A. Using the Excel output provided and = .05, is there sufficient evidence to indicate a difference in the mean estimates of beer-brand market shares produced by the three auditing methods? Do a complete and appropriate hypothesis test using the 5-step procedure and p-value approach. If and only if significant differences are found, perform the appropriate post hoc test and clearly and briefly discuss your findings.
B. Construct a 95% confidence interval estimate of the difference between the mean estimates of beer-brand market shares produced by the traditional store audit and the weekend selldown audit. Make sure that your confidence interval is in the correct final format, as discussed in class. Interpret the practical meaning of the interval estimate,
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young