Statistics Analysis



Statistical Analysis

Introduction

It is perilous for any company leaders to introduce their products or company in the market among different others competitors who is leading a good position in the market. The pizza company has to establish their franchise in the nearby community. To adjust in a new area where other competitors store is also leading is initially hard for the new company. It requires proper marketing segmentation and study that provides affluent helps to the new entrant and how they commenced their company in the new community. These marketing strategies will help them to evaluate the criteria that different competitors has followed for running their same company, further it provides techniques and methods that help them to sustain in the market among others competitors (Varian, 1982).

Discussion

Demand Analysis and Forecast for Pizza

To establish and making the demand analysis for pizza in the community we must need to compare our targeted prices with the others competitors prices. This will help to maintain the sustainability in our new product prices with the competitor's prices. When the company of pizza is running and increase its customers on the basis of taste, services and quality of pizza is best as compare to others, then we can make demand analysis for the predicting variables. Further, we can use these prices for demand analysis and generate forecasting for the next years. This will help out the new entrant to expand their company and further they will able to adjust their product prices in the next coming years. The demand analysis and forecasting technique always affluent for sustain their market values among other pizza franchise.

Regression Method

In Statistical research method, regression played a significant role for estimating the future values. This can be possible by using dependent and independent variables and also examine how they regress with each other. For running a new company in the community the various factors has given which helps to evaluate the surroundings of the existed market in the community (Terwiesch, et.al, 2005). This method will effectual for researchers to obtain a demand analysis and further it can forecast the predicted values. The various factors area s follows

Demand (Q)

Price (P)

Competitors Price (Px)

Advertising (Ad)

Income (I)

Regression Analysis

Regression Statistics

Multiple R

0.415835835

R Square

0.172919441

Adjusted R Square

0.14338085

Standard Error

0.644077742

Observations

30

Coefficient of Determination

In Statistics theory, the coefficient of determination defines that how well the point that is sued in data has fixed with the normal trend line or curve. It is denoted by R Square. It also defines the main concepts of prediction of forecasted values or testing of different hypothesis. It provides a calculation of how well pragmatic results are simulated by the given model, as the amount of the total difference of results elucidated by the given model. The coefficient of determination value is 17.23% which defines that the pizza company has faced market problems because the other competitors has already maintained their growth in the market and ...