TITLE: Comparison of 4 different coffee brand
INTRODUCTION:
This report aims to provide a comprehensive comparison of four distinct coffee brands: Starbucks, Costco, Blue Tokai, and Third Wave Coffee. These brands operate in different segments of the coffee market, offering a diverse range of products and customer experiences. By analysing data we aim to understand how companies these position themselves in the competitive coffee market and the unique value they bring to their customers.
AUTHOR: Riddhi Rathod
OBJECTIVE: Comparison of four coffee brand.
DATA COLLECTION:
To gather relevant data, a survey was done in a class of finance on a scale of 10. Participants rated each coffee brand on a scale of 1 to 10, allowing us to capture their opinions and ratings related to 4 coffee brand. The collected data was then analysis to assess differences in ratings among the four brand, providing insights into their relative strengths and areas for customer preference.
DATA ANALYSIS:
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Anova : Single Factor |
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SUMMARY |
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Groups |
Count |
Sum |
Average |
Variance |
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STARBUCKS |
20 |
134 |
6.7 |
1.905263 |
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COSTCO |
20 |
142 |
7.1 |
2.094737 |
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THIRD WAVE |
20 |
146 |
7.3 |
2.115789 |
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BLUE TOKAI |
20 |
144 |
7.2 |
1.326316 |
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ANOVA |
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Source of Variation |
SS |
df |
MS |
F |
P-value |
F crit |
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Between Groups |
4.15 |
3 |
1.383333 |
0.743517 |
0.529432 |
2.724944 |
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Within Groups |
141.4 |
76 |
1.860526 |
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Total |
145.55 |
79 |
CONCLUSION:
As the P-value of the hypothesis is 0.529432 is more than 0.05 we accept the null hypothesis meaning all are same. Based on the ANOVA results, there is sufficient evidence to conclude that there are significant differences in customer preference scores among the four coffeebrand. There is no statistically significant difference between the average values of Starbucks, Costco, Third Wave Coffee, and Blue Tokai .The p-value (0.5294) is much higher than the typical threshold of 0.05, meaning the differences in their averages could very likely be due to random chance.