Author: Shraddha Bhusari
F1, 021330024391, ITM B-School Navi Mumbai.
Introductions: Tanishq, a Tata Group brand, is renowned for its purity, craftsmanship, and innovative designs, offering a blend of traditional and contemporary jewelry. Kalyan Jewellers is known for its exquisite gold collections and trust-focused approach, with a strong presence in India and the Middle East. Malabar Gold and Diamonds, one of the largest global jewellery retailers, offers diverse and high-quality gold, diamond, and platinum pieces. PC Jeweller (PCJ) is recognized for its modern yet elegant designs, providing finely crafted jewellery across India with a focus on quality and service.
Objective: To find out if all are same or any one of them is different between four jewellery brand options.
Data Collection: Data is collected by using random sample method. Circulated google form to collect the responses from classmates and family members.
Data Analysis:
|
SUMMARY |
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|
Groups |
Count |
Sum |
Average |
Variance |
|||
|
Tanishq |
30 |
142 |
4.733333333 |
0.47816092 |
|||
|
Kalyan Jewellers |
30 |
104 |
3.466666667 |
1.085057471 |
|||
|
Malabar Gold & Diamonds |
30 |
90 |
3 |
1.24137931 |
|||
|
PC Jewellers |
30 |
88 |
2.933333333 |
1.167816092 |
|||
|
ANOVA |
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|
Source of Variation |
SS |
df |
MS |
F |
P-value |
F crit |
|
|
Between Groups |
62.66666667 |
3 |
20.88888889 |
21.03395062 |
0.00000000005968 |
2.682809407 |
|
|
Within Groups |
115.2 |
116 |
0.993103448 |
||||
|
Total |
177.8666667 |
119 |
|
|
|
|
|
Data Interpretation: The P-value (0.00000000005968) is much smaller than alpha level (0.05), meaning there is a statistically significant difference between the group means. In other words, at least one of the groups differs from the others. The calculated F-value (21.03) is much larger than the critical F-value (2.68), reinforcing the conclusion that the group means are not all the same.
Conclusion: Based on this ANOVA test, we can reject the null hypothesis, which states that all group means are equal. There is enough evidence to suggest that there are significant differences between the means of the four groups.