TITLE: Analysis of Customer Preferences: Bike Brands
AUTHOR: Kshitij Sharma
INTRODUCTION: Royal Enfield Classic 350, TVS Ronin, Honda H’ness CB350, and Hero Extreme 160 are prominent bikes, each targeting a specific demographic. The RE Classic 350 is known for its timeless retro design and comfortable long-distance riding capabilities. TVS Ronin is designed for urban riders looking for a blend of comfort and style, while Honda H’ness CB350 offers a retro-modern feel with a focus on performance. Hero Extreme 160 is positioned as a budget-friendly sports commuter. This study aims to explore customer preferences for these bikes based on a survey.
OBJECTIVE: The objective of this study is to evaluate consumer preferences for the four bike brands. The aim is to identify if there is a significant difference in ratings based on design, performance, comfort, price, and overall satisfaction.
DATA COLLECTIONS: Data was collected from a survey of 25 respondents using a Google form. Participants rated the bikes on a scale from 1 to 10, with 1 being the least preferred and 10 being the most preferred. The ratings were provided across various categories such as design, comfort, performance, price, and overall satisfaction. The data was analysed using single-factor ANOVA.
DATA ANALYSIS:
Anova: Single Factor
|
Groups |
Count |
Sum |
Average |
Variance |
|
RE Classic 350 |
25 |
225 |
9 |
0.72 |
|
TVS Ronin |
25 |
207 |
8.28 |
1.18 |
|
Honda H’ness 350 |
25 |
230 |
9.2 |
0.48 |
|
Hero Extreme 160 |
25 |
203 |
8.12 |
1.35 |
ANOVA:
|
Source of Variation |
SS |
df |
MS |
F |
P-value |
F crit |
|
Between Groups |
9.58 |
3 |
3.19333 |
1.982 |
0.122 |
2.87 |
|
Within Groups |
100.57 |
96 |
1.0476 |
|||
|
Total |
110.15 |
99 |
HYPOTHESIS:
H₀ (Null Hypothesis): There is no significant difference in consumer ratings among the four bike brands. All ratings are the same.
H₁ (Alternative Hypothesis): At least one bike brand’s consumer rating is significantly different from the others.
- P-value: 0.122
- F-value: 1.982
- F-critical: 2.87
If the F-value is less than the F-critical value, we accept the null hypothesis. If the P-value is greater than 0.05, we accept the null hypothesis.
CONCLUSION:
Since the P-value (0.122) is greater than 0.05 and the F-value (1.982) is less than the F-critical value (2.87), we accept the null hypothesis. This suggests that there is no significant difference in customer preferences for the RE Classic 350, TVS Ronin, Honda H’ness CB350, and Hero Extreme 160. Consumers rated the bikes similarly across various factors like design, comfort, and performance.