Foundation of Business Analysis Case Study Example | Topics and Well Written Essays - 1250 words

Foundation of Business Analysis - Case Study Example The significant confidence is 88% implying that the it does not mee the 95% required confidence The results didn’t show any significant statistical variance between the hypothesized entrà ©e price (p = 0.118 OR 0.059) and the sample data. Therefore we fail to reject the null hypothesis and conclude that patrons will be willing to pay $18 for an entree, which is the same as the prediction of the forecast model. The finding shows that most patrons are willing to pay $18. A one-sample t-test is taken to check if patrons can spend $200for an entrà ©e as per the forecast model specification. The significant confidence is 100% implying that the significance confidence it meet the 95% required confidence. For this case the confidence level exceed the 95% minimum threshold therefore we are taking the alternative hypothesis (Weiers 54). A one-sample t-test is taken to check if the location is in ZIP 7 for an entrà ©e as per the forecast model specification. The significant confidence is 100% implying that the significance confidence it meet the 95% required confidence. For this case the confidence level exceed the 95% minimum threshold therefore we are taking the alternative hypothesis. at p=0.01 the likelihood of people with different income levels gave a relationship of 0.775, at 0.000 level of significance. Thus value is high showing a higher likelihood to patronize the restaurant by people of different income level. At p=0.01, the t=7.710 for simple dà ©cor was high than for elegant dà ©cor t=-8.906. this was considered at 95% confidence level. In addition, the mean value (3.58) of the patrons preferred simple dà ©cor. While the patrons preferring elegant dà ©cor had mean value(2.33) which is a lower value. Patrons prefers live entertainment given that the majority love listening to Jazz cambo (t=11.385) at p=0.01 confidence level. Fewer patrons prefer listening to string quarter (t=-7.009) at confidence