Three hundred consumers between 21 and 49 years old were randomly selected. After sampling a new wine cooler, each was asked to rate the appeal of the phrase: “Not sweet like wine coolers, not filling like beer, and more refreshing than wine or mixed drinks” as it relates to the new wine cooler. The rating was made on a scale from 1 to 5, with 5 representing “extremely appealing” and with 1 representing “not at all appealing”.

As a manager overseeing the development of the concept, you bottle the wine cooler and placed it into distribution in one test store.

Your manager has asked you to assess the data and determine the most likely customer based on the ratings. Additionally, your manager would like you to review sales in the test store.

Use the Week 3 Data Set to create and calculate the following in Excel®:

Estimate the probability that a randomly selected 21 to 49 year old consumer:

Would give the phrase a rating of 5

Would give the phrase a rating of 3 or higher

Is in the 21-24 age group

Is a male who gives the phrase a rating of 4

Is a 35 to 49 year old who gives the phrase a rating of 1

Based on the probabilities for the ratings of 4 and 5, which age/gender demographic would be the best target audience for the new concept?

Create a probability distribution using the data which shows how many cartons of the wine cooler were bought per customer in a month.

Calculate the mean and the standard deviation of your probability distribution.

Calculate the probability that exactly 3 six packs will be bought in a month.

Calculate the probability that between 4 and 8 six packs will be bought in a month.

Calculate the probability that at least 5 six packs will be bought in a month.

Calculate the probability that no more than 5 six packs will be bought in a month.

Create a relative frequency distribution based on the wine cooler drinking temperatures.

Create 6 bins with the same interval in each.

Create a histogram

Considering the mean and standard deviation for the ideal drinking temperature:

Calculate z values then refer to Table 6.1 – Cumulative Areas Under the Standard Normal Curve

Calculate the probability of the wine cooler being less than 45 degrees.

Calculate the probability of the wine cooler being greater than 60 degrees.

Calculate the percentage of wine coolers served at the ideal temperature, between 49 and 55 degrees.

Click the Assignment Files tab to submit.

RESULTS OF CONCEPT RATING FOR NEW WINE COOLER | ||||||

Rating of the appeal of the phrase as it relates to the new wine cooler | Total Sample | Gender | Age | |||

Male | Female | 21 – 24 | 25 -34 | 35-49 | ||

Extremely appealing (5) | 151 | 68 | 83 | 48 | 63 | 40 |

Somewhat appealing (4) | 91 | 51 | 40 | 36 | 32 | 23 |

Neither appealing nor not appealing (3) | 36 | 21 | 15 | 9 | 16 | 11 |

Somewhat unappealing (2) | 13 | 7 | 6 | 4 | 6 | 3 |

Not at all appealing (1) | 9 | 3 | 6 | 4 | 3 | 2 |

IDEAL TEMPERATURE |

40 |

41 |

41 |

41 |

42 |

42 |

43 |

44 |

44 |

47 |

47 |

47 |

47 |

48 |

49 |

49 |

49 |

51 |

54 |

54 |

55 |

55 |

55 |

56 |

56 |

57 |

58 |

62 |

62 |

62 |

Three hundred consumers between 21 and 49 years old were randomly selected. After sampling a new wine cooler, each was asked to rate the appeal of the phrase: “Not sweet like wine coolers, not filling like beer, and more refreshing than wine or mixed drinks” as it relates to the new wine cooler. The rating was made on a scale from 1 to 5, with 5 representing “extremely appealing” and with 1 representing “not at all appealing”.

As a manager overseeing the development of the concept, you bottle the wine cooler and placed it into distribution in one test store.

Your manager has asked you to assess the data and determine the most likely customer based on the ratings. Additionally, your manager would like you to review sales in the test store.

Use the Week 3 Data Set to create and calculate the following in Excel®:

Estimate the probability that a randomly selected 21 to 49 year old consumer:

Would give the phrase a rating of 5

Would give the phrase a rating of 3 or higher

Is in the 21-24 age group

Is a male who gives the phrase a rating of 4

Is a 35 to 49 year old who gives the phrase a rating of 1

Based on the probabilities for the ratings of 4 and 5, which age/gender demographic would be the best target audience for the new concept?

Create a probability distribution using the data which shows how many cartons of the wine cooler were bought per customer in a month.

Calculate the mean and the standard deviation of your probability distribution.

Calculate the probability that exactly 3 six packs will be bought in a month.

Calculate the probability that between 4 and 8 six packs will be bought in a month.

Calculate the probability that at least 5 six packs will be bought in a month.

Calculate the probability that no more than 5 six packs will be bought in a month.

Create a relative frequency distribution based on the wine cooler drinking temperatures.

Create 6 bins with the same interval in each.

Create a histogram

Considering the mean and standard deviation for the ideal drinking temperature:

Calculate z values then refer to Table 6.1 – Cumulative Areas Under the Standard Normal Curve

Calculate the probability of the wine cooler being less than 45 degrees.

Calculate the probability of the wine cooler being greater than 60 degrees.

Calculate the percentage of wine coolers served at the ideal temperature, between 49 and 55 degrees.

Click the Assignment Files tab to submit.

RESULTS OF CONCEPT RATING FOR NEW WINE COOLER | ||||||

Rating of the appeal of the phrase as it relates to the new wine cooler | Total Sample | Gender | Age | |||

Male | Female | 21 – 24 | 25 -34 | 35-49 | ||

Extremely appealing (5) | 151 | 68 | 83 | 48 | 63 | 40 |

Somewhat appealing (4) | 91 | 51 | 40 | 36 | 32 | 23 |

Neither appealing nor not appealing (3) | 36 | 21 | 15 | 9 | 16 | 11 |

Somewhat unappealing (2) | 13 | 7 | 6 | 4 | 6 | 3 |

Not at all appealing (1) | 9 | 3 | 6 | 4 | 3 | 2 |

IDEAL TEMPERATURE |

40 |

41 |

41 |

41 |

42 |

42 |

43 |

44 |

44 |

47 |

47 |

47 |

47 |

48 |

49 |

49 |

49 |

51 |

54 |

54 |

55 |

55 |

55 |

56 |

56 |

57 |

58 |

62 |

62 |

62 |

Three hundred consumers between 21 and 49 years old were randomly selected. After sampling a new wine cooler, each was asked to rate the appeal of the phrase: “Not sweet like wine coolers, not filling like beer, and more refreshing than wine or mixed drinks” as it relates to the new wine cooler. The rating was made on a scale from 1 to 5, with 5 representing “extremely appealing” and with 1 representing “not at all appealing”.

As a manager overseeing the development of the concept, you bottle the wine cooler and placed it into distribution in one test store.

Your manager has asked you to assess the data and determine the most likely customer based on the ratings. Additionally, your manager would like you to review sales in the test store.

Use the Week 3 Data Set to create and calculate the following in Excel®:

Estimate the probability that a randomly selected 21 to 49 year old consumer:

Would give the phrase a rating of 5

Would give the phrase a rating of 3 or higher

Is in the 21-24 age group

Is a male who gives the phrase a rating of 4

Is a 35 to 49 year old who gives the phrase a rating of 1

Based on the probabilities for the ratings of 4 and 5, which age/gender demographic would be the best target audience for the new concept?

Create a probability distribution using the data which shows how many cartons of the wine cooler were bought per customer in a month.

Calculate the mean and the standard deviation of your probability distribution.

Calculate the probability that exactly 3 six packs will be bought in a month.

Calculate the probability that between 4 and 8 six packs will be bought in a month.

Calculate the probability that at least 5 six packs will be bought in a month.

Calculate the probability that no more than 5 six packs will be bought in a month.

Create a relative frequency distribution based on the wine cooler drinking temperatures.

Create 6 bins with the same interval in each.

Create a histogram

Considering the mean and standard deviation for the ideal drinking temperature:

Calculate z values then refer to Table 6.1 – Cumulative Areas Under the Standard Normal Curve

Calculate the probability of the wine cooler being less than 45 degrees.

Calculate the probability of the wine cooler being greater than 60 degrees.

Calculate the percentage of wine coolers served at the ideal temperature, between 49 and 55 degrees.

Click the Assignment Files tab to submit.

RESULTS OF CONCEPT RATING FOR NEW WINE COOLER | ||||||

Rating of the appeal of the phrase as it relates to the new wine cooler | Total Sample | Gender | Age | |||

Male | Female | 21 – 24 | 25 -34 | 35-49 | ||

Extremely appealing (5) | 151 | 68 | 83 | 48 | 63 | 40 |

Somewhat appealing (4) | 91 | 51 | 40 | 36 | 32 | 23 |

Neither appealing nor not appealing (3) | 36 | 21 | 15 | 9 | 16 | 11 |

Somewhat unappealing (2) | 13 | 7 | 6 | 4 | 6 | 3 |

Not at all appealing (1) | 9 | 3 | 6 | 4 | 3 | 2 |

IDEAL TEMPERATURE |

40 |

41 |

41 |

41 |

42 |

42 |

43 |

44 |

44 |

47 |

47 |

47 |

47 |

48 |

49 |

49 |

49 |

51 |

54 |

54 |

55 |

55 |

55 |

56 |

56 |

57 |

58 |

62 |

62 |

62 |

Use the Week 3 Data Set to create and calculate the following in Excel®:

Use the Week 3 Data Set to create and calculate the following in Excel®:

Estimate the probability that a randomly selected 21 to 49 year old consumer:

Estimate the probability that a randomly selected 21 to 49 year old consumer:

Would give the phrase a rating of 5

Would give the phrase a rating of 5

Would give the phrase a rating of 3 or higher

Would give the phrase a rating of 3 or higher

Is in the 21-24 age group

Is in the 21-24 age group

Is a male who gives the phrase a rating of 4

Is a male who gives the phrase a rating of 4

Is a 35 to 49 year old who gives the phrase a rating of 1

Is a 35 to 49 year old who gives the phrase a rating of 1

Calculate the mean and the standard deviation of your probability distribution.

Calculate the mean and the standard deviation of your probability distribution.

Calculate the probability that exactly 3 six packs will be bought in a month.

Calculate the probability that exactly 3 six packs will be bought in a month.

Calculate the probability that between 4 and 8 six packs will be bought in a month.

Calculate the probability that between 4 and 8 six packs will be bought in a month.

Calculate the probability that at least 5 six packs will be bought in a month.

Calculate the probability that at least 5 six packs will be bought in a month.

Calculate the probability that no more than 5 six packs will be bought in a month.

Calculate the probability that no more than 5 six packs will be bought in a month.

Create a relative frequency distribution based on the wine cooler drinking temperatures.

Create a relative frequency distribution based on the wine cooler drinking temperatures.

Create 6 bins with the same interval in each.

Create 6 bins with the same interval in each.

Create a histogram

Create a histogram

Considering the mean and standard deviation for the ideal drinking temperature:

Considering the mean and standard deviation for the ideal drinking temperature:

Calculate z values then refer to Table 6.1 – Cumulative Areas Under the Standard Normal Curve

Calculate z values then refer to Table 6.1 – Cumulative Areas Under the Standard Normal Curve

Calculate the probability of the wine cooler being less than 45 degrees.

Calculate the probability of the wine cooler being less than 45 degrees.

Calculate the probability of the wine cooler being greater than 60 degrees.

Calculate the probability of the wine cooler being greater than 60 degrees.

Calculate the percentage of wine coolers served at the ideal temperature, between 49 and 55 degrees.

Calculate the percentage of wine coolers served at the ideal temperature, between 49 and 55 degrees.

Click the Assignment Files tab to submit.

Click the Assignment Files tab to submit.

RESULTS OF CONCEPT RATING FOR NEW WINE COOLER | ||||||

Rating of the appeal of the phrase as it relates to the new wine cooler | Total Sample | Gender | Age | |||

Male | Female | 21 – 24 | 25 -34 | 35-49 | ||

Extremely appealing (5) | 151 | 68 | 83 | 48 | 63 | 40 |

Somewhat appealing (4) | 91 | 51 | 40 | 36 | 32 | 23 |

Neither appealing nor not appealing (3) | 36 | 21 | 15 | 9 | 16 | 11 |

Somewhat unappealing (2) | 13 | 7 | 6 | 4 | 6 | 3 |

Not at all appealing (1) | 9 | 3 | 6 | 4 | 3 | 2 |

RESULTS OF CONCEPT RATING FOR NEW WINE COOLER

Rating of the appeal of the phrase as it relates to the new wine cooler Total Sample Gender Age Rating of the appeal of the phrase as it relates to the new wine coolerRating of the appeal of the phrase as it relates to the new wine cooler

Total SampleTotal Sample

GenderGender

Age

Age

Male Female 21 – 24 25 -34 35-49 MaleMale

FemaleFemale

21 – 2421 – 24

25 -3425 -34

35-4935-49

Extremely appealing (5) 151 68 83 48 63 40 Extremely appealing (5)Extremely appealing (5)

151151

6868

8383

4848

6363

4040

Somewhat appealing (4) 91 51 40 36 32 23 Somewhat appealing (4)Somewhat appealing (4)

9191

5151

4040

3636

3232

2323

Neither appealing nor not appealing (3) 36 21 15 9 16 11 Neither appealing nor not appealing (3)Neither appealing nor not appealing (3)

3636

2121

1515

99

1616

1111

Somewhat unappealing (2) 13 7 6 4 6 3 Somewhat unappealing (2)Somewhat unappealing (2)

1313

77

66

44

66

33

Not at all appealing (1) 9 3 6 4 3 2 Not at all appealing (1)Not at all appealing (1)

99

33

66

44

33

22

IDEAL TEMPERATURE |

40 |

41 |

41 |

41 |

42 |

42 |

43 |

44 |

44 |

47 |

47 |

47 |

47 |

48 |

49 |

49 |

49 |

51 |

54 |

54 |

55 |

55 |

55 |

56 |

56 |

57 |

58 |

62 |

62 |

62 |

IDEAL TEMPERATURE

40 4040

41 4141

41 4141

41 4141

42 4242

42 4242

43 4343

44 4444

44 4444

47 4747

47 4747

47 4747

47 4747

48 4848

49 4949

49 4949

49 4949

51 5151

54 5454

54 5454

55 5555

55 5555

55 5555

56 5656

56 5656

57 5757

58 5858

62 6262

62 6262

62 6262