BAC21 Group Research Project  Weight: This assignment is worth 20% of the total marks for this subject.  Due date: Week 11 Project Title: The market for soft drinks at USC USC is a large university...

BAC21 Group Research Project  Weight: This assignment is worth 20% of the total marks for this subject.  Due date: Week 11 Project Title: The market for soft drinks at USC USC is a large university attended by thousands of students every day on week days. The purpose of this project is to understand the students’ soft drinks market at the university. The market for drinks is measured in terms of 375ml cans. This type of project requires the students to demonstrate their ability to select a sample, analyse the data collected and prepare a written report of their analysis. Since it was impossible to interview every student visiting the university last semester, the subject coordinator proposed that only BAC21 students should be interviewed. What should you do? 1. Form a group of 4-5 students for the project. 2. The Lecturer has exported the anonymous responses to an Excel file. Your project group will be expected to select a random sample of 90 responses for analysis. 3. Analyze the survey sample you have selected for your group. The best way to do this will be to convene a meeting after class every week and discuss how you could apply the analytical techniques covered in your classes so far on the survey data. 4. Submit the following: A group report of around 800 to 1000 words. This is to be handed to your teacher in your second class of week 11. The report must respond to the specific questions asked in a report format. 1. Introduction Provide a brief introduction to what this assignment is about and how was your sample selected? 2. Data Analysis This section must answer to the following specific questions 1. What proportions of the students in your sample are local and what proportion are international? 2. What is the relationship between price and average quantity consumed by students? 3. What are the most popular and least popular soft drinks among students? 4. How loyal are students to their brand? (Do students change their preference when they receive a 25% or 40% discount on their preferred drink?) 5. How does the demand (price-quantity relationship) of international students differ from that of local students? 6. What are the most and least popular drinks among local students? How does this compare with the preferences of the international student? 7. How likely is it that the student will choose soft drink (Pepsi, Coke etc.) as their first preference? Provide 95% confident interval estimates and interpret your results. 3. Summary (20% marks): Provide a quick summary of the main results from your analysis of the data and critically evaluate the validity of the sample data.