BI_Conjoint_Analysis_Assignment

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Worcester Polytechnic Institute *

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584

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Management

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Feb 20, 2024

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docx

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Uploaded by DrTitaniumRhinoceros

1. To what extent each attribute (size of theater, location of theater, movie selection) is important to the respondents? Explain. Size of the theatre 1.682 45.42% Movie Selection 1.6135 43.57% Location of the theater 0.408 11.02% From the above analysis of the coefficients done, Size of the theatre (45.42%) is the most important attribute to the respondents and Location of the theater (11.02%) is the least important attribute. 2. For each attribute, which levels/values do the respondents prefer the most and the least? Explain. Attributes and their coefficients: Size of the theatre Small -1.682 Medium -0.6915 Large 0 (Baseline) Here, the coefficient of the large size of the theatre is the highest and small size of theatre has the lowest value of coefficient. Hence, respondents prefer the large size of theatre the most. Movie Selection All current movies 0.9835 Some current movies -0.630 Only current popular movies 0 (Baseline) All current movies have the highest coefficient, and some current movies have the lowest coefficient. Hence, all current movies is the most preferred and some current movies is the least preferred. Location of theater Mall 0.408 Plaza 0.184 Standalone 0 (Baseline)

Mall has the highest coefficient and Standalone location has the lowest coefficient. Hence, mall is the most preferred location of theater and Standalone is the least preferred. 3. What are the managerial implications of these results? In other words, what actions would you recommend the manager of Hyrule Cinemas to take to improve their business performance? To improve the business performance, I would recommend the manager of Hyrule Cinemas to focus more on the Size of the theatre, because respondents prefer this over other attributes (as per the analysis done). Along with the size of the theatre, the manager can also focus on the Movie Selection attribute as it has a substantial importance of percentage(43.57%). The combination on which the manager can focus upon (the most preferred combination) Large Size theatre/All current Movies/Mall – (from the analysis of the coefficients of each attribute) Also, from the above picture, we can see that the P value of Mall and Plaza is greater than 0.05. Hence, Location does not seem to be statistically significant for determining the preference. Hence, the Manager can focus more on the other attributes – Size of the theatre and Movie Selection

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