A NEW MOBILE “APP” FOR A MUSIC COMMUNITY

Following his graduation from an excellent university with a degree in music and entrepreneurship, Brian Wright was eager to launch a music-related business. Brian always enjoyed working with new technologies as well as listening to music. Because of the proliferation of social media sites on the Internet and the advances in mobile technologies with smartphones, he believed that developing an “app” for mobile phones that brings together a community of fans for their favorite music would be ideal. The development of mobile applications has become one of the largest industries of mobile technologies and hundreds of thousands of apps exist for mobile users in almost every category: games, lifestyle, social networking, education, business, etc. In the Apple App Store alone are more than 500,000 apps and counting; many are even free, but many others are not, which means mobile applications are truly a growing source of business.

Brian was confident that the success of the other open sourced communities and other mobile apps proved that there was a market for his idea; therefore, developing an app for personal music would be an easy concept for customers to grasp. Although music can be downloaded for free or for small fees, Brian knew that he and his friends preferred to listen to an particular music and then comment about it. Brian believed that any true fan of a particular brand of music would want to engage with other like-minded individuals. And, if it was available on a smartphone as an app, then the mobility issue would ensure its success.

When calculating potential revenue, Brian concluded that the best way to monetize the app would be through a reasonable purchase price and then have music related companies pay for ads that run within the app. Since he was creating new social community around music, this would certainly be an avenue for companies to advertise. As Brian began discussing his idea with his friends, their enthusiasm convinced him that he needed to act quickly before someone else seized the opportunity. At $2 per app purchase and an estimated four new community members per month, he would only need a little over 20,000 customers to reach $1,000,000 in annual revenue. After looking at his financial forecasts, Brian decided that it was time to bring his mobile music app to market.

QUESTIONS

1.      Has Brian completed the proper marketing research for this potential opportunity? Why or why not? Explain.

2.      Based on the case, are there key mistakes that you would caution Brian about? Explain.

3.      What specific steps would you recommend to Brian for him to better assess this opportunity?

The medical reports from the track team in university x showed that, over the last few years, its first-year athletes have had a resting heart rate of μ= 53 beats per minute, with σ= 10. What is the probability that this year the sample of freshman (n=25) have a mean heart rate of 57 or lower (M<=57)?

a. 2.28%

b. 34.5%

c. 97.7%

d. 65.6%

1. each Given the following data comes from the football program of a quaint university north of here that wears blue and yellow. Evaluate this data for linear regression:

1. Make a scatter plot
2. Which variable is the predictor or explanatory variable and which is the response variable?
3. Conduct a hypothesis test to determine if there is a significant linear correlation
   1. State your null and alternative hypothesis
   2. Justify rejecting or failing to reject the null at the .05 significance level.
4. Provide the equation
5. Determine r
6. What percent of the variation in points scored is accounted for by the regression equation?
7. Find the residual of 7 penalties.
8. Estimate the number of points scored if Quaint U is penalized 6 times in the game
9. Estimate the number of points scored if Quaint U is penalized 80 times in the game
10. Determine the 95% confidence interval for the slope coefficient
11. Sketch a plot of the standardized residuals on the vertical axis against y on the horizontal. Mark maximum and minimum values of the standardized residuals on y axis.

Suppose that salaries of recent graduates from a large state university are normally distributed with mean $45,000 and standard deviation $4,200. (1) What proportion of salaries are between $40,000 and $55,000? (2) What two salaries bound the middle 40%?

4. Later this year, a team from Technion University in Israel is planning to launch three small satellites as part of their ongoing SAMSON project. The team will test the use of radiation pressure from sunlight, incident on a satellite’s solar panels, to provide the energy needed to increase the radius of the satellite’s orbit. To confirm the theoretical viability of this idea, consider a nanosatellite of mass 2.10 kg in a circular orbit around Earth with a period of 96.0 minutes. The satellite’s solar panels have and albedo of 20.0% and area of 0.200 m2 , and they are maintained in an orientation perpendicular to the incident sunlight for the quarter of the satellite’s orbit in which the satellite achieves the greatest linear displacement away from the sun. Find the increase in the radius of the satellite’s orbit after one day. (This is a work-energy problem. You will need to find the original radius of the orbit, and then consider the work done by the radiation force exerted on the solar panels, then relate this to the initial and final energy of the circular orbit.) Assume the intensity of sunlight is 1400 W/m2 . ANSWER IS 19 METERS

Researchers at the University of Maryland recorded body temperatures from a random sample of 93 healthy adults. They obtained a sample mean of 98.42 ℉ and a standard deviation of 0.65℉. Use this sample data to test the hypothesis that the mean body temperature of all healthy adults is actually less than 98.6℉.

A committee surveyed 173 students from a large university campus and found that 53 of them participated in varsity sports. (a) Based on the survey results, construct and interpret a 95% confidence interval for the proportion of students who are varsity athletes. (b) Based on the survey results, test the claim that more than 25% of students are varsity athletes. Use alpha=0.01α = 0.01. Show all work.

Shelli graduates from the University of South next month on her 25^th birthday, and she is excited to begin her new career. Because she wants to have a comfortable living when she retires, Shelli has decided to begin planning for her retirement now. As a result, she is currently evaluating the amount she needs to contribute to a retirement fund satisfy her financial requirements at retirement. After speaking to retired friends and relatives, Shelli estimates she will need $60,000 each year to be able to live comfortably and enjoy her “twilight years.” In addition, Shelli expects that she can invest in a retirement fund that will yield 8 percent interest compounded annually for a long as she contributes to the fund. As soon as she retires, Shelli will have to move her retirement “nest egg” to another investment so she can withdraw money when she needs it. Her plans are to move the money to a fund that allows withdrawals at the beginning of each year and pays 5 percent interest compounded annually. Shelli expects to retire in 40 years, and, after taking an online “life expectancy” quiz, she has concluded that she will live another 25 years after she retires. If Shelli’s expectations are correct, how much must she contribute to the retirement fund to satisfy her retirement plans if she intends to make her first contribution to the fund one year from today and the last contribution on the day she retires?

Alvin wants to save money to pay for his college education, which he plans to start in three years. Currently, the cost per year (for everything—food, clothing, tuition, books, transportation, and so forth) to attend the college he has chosen is $15,000; but these costs are expected to increase at the same rate as inflation, which is 3 percent, each year. Alvin plans to make three equal annual deposits into his “education” investment account beginning today. These deposits will earn 8 percent interest.

a.   If he plans to finish his college degree in four years, what will be the cost of Alvin’s education each year he is in college?

b.   How much must Alvin contribute each year so that he has enough money in his education fund when he starts college in three years to pay the costs for the four years it takes him to complete his degree?

Researchers from the university of Kent, UK, were interested in whether collectivist or individualist attitudes are related to one’s intent to comply with social distancing and safety guidelines during COVID-19. Participants were classified as either collectivist or individualist, and rated their intent to comply with guidelines on a scale from 1-5, where 1 is definitely not and 5 is definitely yes. Please conduct an independent-groups t test to determine if there is a significant difference in intention to comply between individualists and collectivists.

In addition, please:
- report cohen’s d
- report r^2
- conduct and interpret an F-MAX test
- include 95% confidence intervals
- report your answer in words that directly address the research question

Collective

x f

3 2

4 6

5 12

Individual

x f

1 1

2 3

3 11

4 13

5 2

Researchers from the University of Kent, UK, were interested in whether collectivist or individualist attitudes are related to one’s intent to comply with social distancing and safety guidelines during COVID-19. Participants were classified as either collectivist or individualist and rated their intent to comply with guidelines on a scale from 1-5, where 1 is definitely not and 5 is definitely yes. Please conduct an independent-groups t-test to determine if there is a significant difference in intention to comply between individualists and collectivists.

In addition, please:
- report cohen’s d
- report r^2
- conduct and interpret an F-MAX test
- include 95% confidence intervals
- report your answer in words that directly address the research question
- and show all work in step by step detail.

Collective

x f

3 2

4 6

5 12

Individual

x f

1 1

2 3

3 11

4 13

5 2