Question

In: Accounting

The Zubire corporation is one of the leading company which is manufacturing Chocolate and Sugar confectionary...

The Zubire corporation is one of the leading company which is manufacturing Chocolate and Sugar confectionary since 1990. It is located in Rusayl Industrial Estate. The company markets its product under several brand name like Chiko, and Della. These products are available in attractive packaging and premium gift boxes, making them ideal for gift. The company was awarded “His Majesty’s cup 2012” for being one of the top 5 factories in Oman. Now the company wishes to launch a new chocolate to the market and wants to conduct a research on perception of the people in consuming chocolates in Muscat.

Question 6
i) What sampling method do you suggest for the company? Justify  
ii) How does the chosen sampling method vary from other sampling methods?

Solutions

Expert Solution

Market research is very important to be done for knowing the customers and their demands according to which they should plan and produce their product in order to have maximum profits.

i) if we consider the type of sampling method to be used for this, we know that a huge population of customers is demanded for this type of research. So, for covering a large population probability sampling is best. It presents the result coming as representative for the whole population.

Under probability sampling we can go for simple random sampling. In this, from the large population randomly few are selected as samples which represent the whole population as response taking from whole population is not possible. Now the research is being conducted on the following selected randomly. The result that comes is thought of valuable use as it is thought to be the requirement by the whole population as the samples are mixed and not any particular group is being based. A d thus the result asertained is very appropriate covering the needs of every population. And this will definitely help in making new chocolate market.

ii) using any other sampling method, like for example, cluster sampling, it selected a particular group whose choice may match from members of same group but can be entirely different from all other groups as cluster. And hence the result coming henceforth would be seen as baised towards one group and other cluster members would not be interested in buying the product.

This, it can be seen that random sampling is the best option to be choosen that could cover large population also and also the interests of whole the population with varied perceptions. And the its would be made according to which everyone can be comfortable to buy these products.

It is also helpful in exploring different types of interests. And customized products for specific goods can also be made.

This thus random sampling is best to be choosen.


Related Solutions

In what ways is the marketfor sugar used in confectionary related to the market for ethanol?
In what ways is the marketfor sugar used in confectionary related to the market for ethanol?
The table below shows monthly sales (in thousands) of different kinds of chocolate at a confectionary...
The table below shows monthly sales (in thousands) of different kinds of chocolate at a confectionary store. Assume monthly sales are normally distributed and share the same variance. Month Milk Chocolate White Chocolate Dark Chocolate January 9 7 9 February 8 6 9 March 8 7 10 April 10 9 6 Without using excel or any other technological tool, use ANOVA to test, at the 5% significance level, the hypothesis that all three chocolates sell equally on average.
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of...
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of 40 cookies. The mean is 22.29 and the standard deviation is 2.31.Construct a 98​% confidence interval estimate of the standard deviation of the numbers of chocolate chips in all such cookies.
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of...
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of 40 cookies. The mean is 22.29 and the standard deviation is 2.31.Construct a 98​% confidence interval estimate of the standard deviation of the numbers of chocolate chips in all such cookies.
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of...
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of 60 cookies. The mean is 22.46 and the standard deviation is 2.28. Construct a 90​% confidence interval estimate of the standard deviation of the numbers of chocolate chips in all such cookies.
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of...
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of 60 cookies. The mean is 22.15 and the standard deviation is 2.08. Construct a 99​% confidence interval estimate of the standard deviation of the numbers of chocolate chips in all such cookies. ____ chocolate chips < σ < ____ chocolate chips ​(Round to two decimal places as​ needed.)
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of...
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of 70 cookies. The mean is 22.68 and the standard deviation is 2.32. Construct a 99​% confidence interval estimate of the standard deviation of the numbers of chocolate chips in all such cookies.
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of...
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of 40 cookies. The mean is 23.47 and the standard deviation 2.83. Construct a 98​% confidence interval estimate of the standard deviation of the numbers of chocolate chips in all such cookies. Also, please explain how to use a calculator with this example.
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of...
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of 50 cookies. The mean is 22.26 and the standard deviation is 2.28.Construct a 95% confidence interval estimate of the standard deviation of the numbers of chocolate chips in all such cookies.
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of...
A chocolate chip cookie manufacturing company recorded the number of chocolate chips in a sample of 6060 cookies. The mean is 23.8523.85 and the standard deviation is 2.882.88. Construct a 8080​% confidence interval estimate of the standard deviation of the numbers of chocolate chips in all such cookies.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT