Market survey Essay

I. AbstractAs you heap conceive, our AIS High instruct campus has a footling student butt in at the lobby. This store is managed by students and they sell foods and drinks that contributeteen doesnt birth. The cost of the products there range from euchre to 24000VND. However, these hurts are made up by the students without any logical reason. That is why we do this marketing survey project in order to help the students government make right decisions just about products and pricing in the student store. In this project, we apply the core concepts related to pray (Demand Schedule, Demand Curve, Elasticity of postulate) to gain absolute results. We hope that this project forget not only help the students store to translate the best profit but coat way for students to experience how entrepreneurs drill the lessons in making decisions and learn how to cooperate strong in a group.II. MethodologyIn this project, we withdraw cat bear cookies as the chief(prenominal) p roduct for the survey. We are interested in the relation between price and amount of money of adopt in market places. Well spend price to suppose the bar of ask by implicates ofout the survey of the panda cookies. agree to statistic, we have to start checking out conditions whether they are satisfied or not before doing any calculation. Our macrocosm is whole students at AIS and the population size is 40 students. The population size is less than 10% of in all males and females students at AIS. We carried out the survey through the following steps Firstly, we assigned individually student in AIS High School a different ID number. Secondly, we used graphing figurer to randomly pick 10 students (5 males and 5 females) for each grade from 9 to 12. Then, we surveyed them separately and recorded the answers down.The question that we used is For every(prenominal) price point below, how many megabuckss of Panda cookies would you buy per week? We listed out prices from 600 0VND to 10000VND and beat of demand from none to more than five.* enumeration and Graphso Interpreting the graph As you can see in the demand curve above, it shows negative linear affinity which means that the lower the price, the more measuring rod of demand will be. There are no scatter throughout, no shape, no bent and no extrapolation. An R2 of 96.72% indicates that 96.72% of the variation in maximum price can be accounted for by the variation in the quantity of demand in the market places.o Calculation We have a mean of price (is 8000 and standard deviation (Sy) of price is -1581.14 a mean of demand ( is 107.6 and a standard deviation (Sx) of demand is 37.4606. We have a correlation is 0.98 which means the consanguinity between prices and the quantity of demands is strong.o toss b1 = = = -41.363By looking at the slope, you can know that when quantity of demand cast ups by 1 quantity, price will increase -41.363vnd.o Intercept b0 = b1 = 8000 + 41.363 = 8041.36The y arre st tells you that whenever the quantity of demand equals 0, the estimated price will be 8041.36. Finally, we have the regression equality for the price as the quantity of demand increases or decreases. People can use the equation to estimate the price in the future.= -41.363x + 8048.36III. ConclusionsIf we look at the result, we can see that the price affects the quantity of demand a lot and thus plays an important smash in making profit. Since one of the take aim of this project is to make the most profit, we judge to use the demand schedule to estimate at which price will capture out best profit. After calculating, we take a leak that at 7000VND with quantity of demand at 140 makes 980000VND which is the most out of all price points. So we decide to choose price around 7000VND for each packet of Panda cookies.