he market research team at AdRight is assigned the task to identify the profile of the typical customer for each treadmill product offered by CardioGood Fitness. The market research team decides to investigate whether there are differences across the product lines with respect to customer characteristics. The team decides to collect data on individuals who purchased a treadmill at a CardioGoodFitness retail store during the prior three months. The data are stored in the "Data" worksheet. CardioGood Fitness is a developer of cardiovascular exercise equipment. Its product line includes these treadmill models and prices: · TM195: $1500 · TM498: $1750 · TM798: $2500 CardioGood Fitness has a goal to increase sales of treadmills. They have hired your company as advertising consultants to identify the target markets that are most likely to buy more treadmills. Once these markets are identified targeted advertising will be used to generate product interest and increase consumer preference for CardioGood Fitness treadmills over other brands. The TM195 is an entry-level treadmill. It has the least number of programs and features between the models. It is most suitable for customers who prefer less programming and more simplicity in their treadmill. The TM498 shares the same structural housing as the TM195 but offers two built-in training programs and up to 15% elevation grade. The TM798 is structurally larger and heavier than the other models. The model features an LCD backlit console, quick speed and incline keys, wireless heart rate monitor, remote speed control, and a graphical human anatomical figure to measure your gait and identify your minimally and maximally used muscles. This model features a non-folding platform, designed to handle frequent, rigorous usage. This helps to distinguish it from other models. Goal: To identify any customer profiles that may exist for a particular product. This information will be used to match customers with advertisements. This strategy is meant to optimize advertising costs across products. Think about it in terms of what relationships exist within consumers and products, and how might the features of the products be exploited in a way to increase sales. Data: Product = Product purchased Age = Age of customers Gender Education = Years of education MaritalStatus Usage = Average expected product weekly usage count Fitness = Self-score fitness sacle 1=least fit, 5=most fit Income = Annual income Miles = Average number of miles expected to walk weekly 1. Which variables are categorical? 2. Which variables are numerical? 3. Which variables are discrete?

he market research team at AdRight is assigned the task to identify the profile of the typical customer for each treadmill product offered by CardioGood Fitness. The market research team decides to investigate whether there are differences across the product lines with respect to customer characteristics. The team decides to collect data on individuals who purchased a treadmill at a CardioGoodFitness retail store during the prior three months. The data are stored in the "Data" worksheet. CardioGood Fitness is a developer of cardiovascular exercise equipment. Its product line includes these treadmill models and prices: · TM195: $1500 · TM498: $1750 · TM798: $2500 CardioGood Fitness has a goal to increase sales of treadmills. They have hired your company as advertising consultants to identify the target markets that are most likely to buy more treadmills. Once these markets are identified targeted advertising will be used to generate product interest and increase consumer preference for CardioGood Fitness treadmills over other brands. The TM195 is an entry-level treadmill. It has the least number of programs and features between the models. It is most suitable for customers who prefer less programming and more simplicity in their treadmill. The TM498 shares the same structural housing as the TM195 but offers two built-in training programs and up to 15% elevation grade. The TM798 is structurally larger and heavier than the other models. The model features an LCD backlit console, quick speed and incline keys, wireless heart rate monitor, remote speed control, and a graphical human anatomical figure to measure your gait and identify your minimally and maximally used muscles. This model features a non-folding platform, designed to handle frequent, rigorous usage. This helps to distinguish it from other models. Goal: To identify any customer profiles that may exist for a particular product. This information will be used to match customers with advertisements. This strategy is meant to optimize advertising costs across products. Think about it in terms of what relationships exist within consumers and products, and how might the features of the products be exploited in a way to increase sales. Data: Product = Product purchased Age = Age of customers Gender Education = Years of education MaritalStatus Usage = Average expected product weekly usage count Fitness = Self-score fitness sacle 1=least fit, 5=most fit Income = Annual income Miles = Average number of miles expected to walk weekly 1. Which variables are categorical? 2. Which variables are numerical? 3. Which variables are discrete?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

The market research team at AdRight is assigned the task to identify the profile of the typical customer for each treadmill product offered by CardioGood Fitness. The market research team decides to investigate whether there are differences across the product lines with respect to customer characteristics. The team decides to collect data on individuals who purchased a treadmill at a CardioGoodFitness retail store during the prior three months. The data are stored in the "Data" worksheet.

CardioGood Fitness is a developer of cardiovascular exercise equipment. Its product line includes these treadmill models and prices:

· TM195: $1500

· TM498: $1750

· TM798: $2500

CardioGood Fitness has a goal to increase sales of treadmills. They have hired your company as advertising consultants to identify the target markets that are most likely to buy more treadmills. Once these markets are identified targeted advertising will be used to generate product interest and increase consumer preference for CardioGood Fitness treadmills over other brands.

The TM195 is an entry-level treadmill. It has the least number of programs and features between the models. It is most suitable for customers who prefer less programming and more simplicity in their treadmill.

The TM498 shares the same structural housing as the TM195 but offers two built-in training programs and up to 15% elevation grade.

The TM798 is structurally larger and heavier than the other models. The model features an LCD backlit console, quick speed and incline keys, wireless heart rate monitor, remote speed control, and a graphical human anatomical figure to measure your gait and identify your minimally and maximally used muscles. This model features a non-folding platform, designed to handle frequent, rigorous usage. This helps to distinguish it from other models.

Goal:

To identify any customer profiles that may exist for a particular product. This information will be used to match customers with advertisements. This strategy is meant to optimize advertising costs across products. Think about it in terms of what relationships exist within consumers and products, and how might the features of the products be exploited in a way to increase sales.

Data:

Product = Product purchased

Age = Age of customers

Gender

Education = Years of education

MaritalStatus

Usage = Average expected product weekly usage count

Fitness = Self-score fitness sacle 1=least fit, 5=most fit

Income = Annual income

Miles = Average number of miles expected to walk weekly

1. Which variables are categorical?

2. Which variables are numerical?