Unit 3 -IP- Samples Essay Example | Topics and Well Written Essays - 500 words

Unit 3 -IP- Samples - Essay Example In order to test whether the two variables have the same means, a two – sample, two – sided t – test must be performed. The two - tailed test is used because the concern is not whether some variable has a larger or lower mean, but whether the two means are different. As a result, the null hypothesis was established in equation (1) below, stating that the difference in means of the two samples is random. Since the sample sizes are relatively small, the t – test is used as the preferred test (Baltagi, 2008, p.31). The confidence interval is constructed in order to test this hypothesis. The confidence set with confidence level must be determined such that the true difference of the sample means is included in this set. What this implies is that the confidence set will include the true difference of population means with probability â€Å"at least † (Paolella, 2011, p. 13), as shown in equation (3) below: The confidence level chosen is 0.95, which implies that the corresponding confidence set will contain the true population mean difference with 95% probability (Paolella, 2011, p.13). The probability of rejecting the null hypothesis when it is true is as a result 5% (Baltagi, 2008, p.21). This error is denoted as type I error. The larger the confidence interval, the larger the probability that the null hypothesis will be accepted when it is in fact false (Baltagi, 2008, p.22). This error is denoted as type II error. A t – score must be calculated by subtracting the sample means and dividing by the square root of the adjusted population variances, which can be estimated through sample variances. There are in total degree of freedom (Neustadl, n.d.). The resulting t – value is  ± 2.009, which is also the critical region (Dawson, 2012;Ruud, 2000, p.224). The t – test can be seen in equation (4) below: The t – test is preferred because of the data dependence. Both variables have in common the type of

117 Research Paper Example | Topics and Well Written Essays - 1250 words

117 - Research Paper Example In fact, most research findings prove that Apple’s competitive advantage is in its ecosystem and not just the hardware and software prowess. Apple use Exclusivity Technique which works by making the selected customer subset feel like kings due to the premium offers it gives. Through this strategy, Apple has been in a position to create and sustain a unique customer relationship while reducing marketing costs at the same time. To make it effective, Apple deliberately restricted the flow of most of its products more so iPhone and tablets to a number of mobile phone providers and customers. While most firms use the marketing mix concept on the seller perspective, Apple applies it from the buyer’s perspective. This means that the company aims at delivery quality to ensure customer satisfaction, offer long-term solutions to customers, create what customers imagine and ensure convenience. Apple’s marketing mix is incorporated in the five Ps: Price, Place, Product, Promotion, and People. An integrated marketing communication approach is relied upon by the company to help it in achieving objectives linked to the marketing campaign by using a variety of promotional methods (Wernick p.34). The main components of IMC strategy are advertising, public relations, personal selling, and sales promotion Apple Inc. puts a lot of emphasis on Research and Development (R&D) and marketing communication strategies. It does all these to make sure there is brand loyalty among customers who derive satisfaction from the Apple Inc. products. In a unique way, though one of the largest companies in the world, it has managed to run as a small company, which is the best strategy in surviving through difficult times. To make sure this is effective, the company relies on small but capable firms and shifts Brand Focus Apple where it capitalizes on the Minimalist approach to its