Please find the question in attached file and quote a reasonable price?

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Please find the question in attached file and quote a reasonable price?


Introduction Profiles ProfilesRatingsBed Size (Single)Bed Size (1.5 Single)Bed Size (Double)Location (1 min)Location (15 mins) Location (30 mins)Entertainment Facilities (Provided)Entertainment Facilities (Not Provided)Services (Provided)Services (Not Provided)Price (£10)Price (£20)Price (£30) 10010011010010 20010100101100 30101000110100 41001000110100 51000100110010 61001000101010 71000011001100 81000101010001 90011000101001 100011001010100 111000010101100 120100101001100 130100010110001 141001001010100 151001001001001 160101001001010 Data IDProfilesRatingsBed Size (Single)Bed Size (1.5 Single)Bed Size (Double)Location (1 min)Location (15 mins) Location (30 mins)Entertainment Facilities (Provided)Entertainment Facilities Not ProvidedServices (Provided)Services (Not Provided)Price (10)Price (20)Price (30) 1120010011010010 1220010100101100 1360101000110100 1421001000110100 1511000100110010 1611001000101010 1761000011001100 1811000101010001 1910011000101001 11030011001010100 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102260010100101100 102380101000110100 1024101001000110100 102541000100110010 102661001000101010 102771000011001100 102811000101010001 102970011000101001 10210100011001010100 1021141000010101100 10212100100101001100 1021320100010110001 1021481001001010100 1021561001001001001 1021680101001001010 Demographics IDWhat is your gender?How often do you stay in a hostel when traveling?How much do you generally pay for your accommodation per night when traveling? 1313What is your gender:How often:How much: 22421=male1=never1=less than 30 pounds per night 32322=female2=less than once a year2=30-60 42423=prefer not to say3=once a year3=more than 60 52314=more than once a year 6241 7212 8243 9243 10241 11122 12143 13143 14221 15213 16243 17212 18212 19222 20241 21142 22141 23242 24113 25223 26112 27213 28232 29242 30232 31242 32243 33222 34241 35141 36142 37213 38223 39242 40242 41142 42242 43242 44222 45241 46142 47222 48141 49131 50222 51241 52122 53113 54222 55212 56141 57241 58223 59123 60242 61222 62222 63241 64112 65241 66212 67213 68242 69232 70221 71213 72222 73113 74243 75213 76241 77241 78141 79141 80231 81121 82221 83241 84223 85232 86232 87131 88242 89113 90131 91223 92212 93142 94241 95212 96232 97233 98242 99142 100221 101242 102142 3. Conjoint Analysis First developed in Japan in 1979, capsule hotels provide cubicle beds tightly packed side-by-side and on top of one another, a design that emerged from increased urban density and rising hotel prices in recession-hit Japan. Since then, capsule hotels have seen tremendous expansion, with new hotels opening across Asia as well as Europe and America. The experience of staying at a capsule hotel also appeals to young people. Although capsule hotels started in Japan as a practical, almost sterile environment where there were minimal social interactions, modern capsule hotels have evolved to become “innovative communal spaces,” with shared working and entertainment spaces and a hub of new technologies and inspiring ideas. A popular chain of capsule hotels is planning to make a foray into London, and to this end, has commissioned a survey of customers to ascertain their preferences. The file Capsule Hotel Conjoint Data 2022-23.xlsx contains the relevant data from the survey. Various tabs in the spreadsheet explain the conjoint design and provide data and demographic information. a) Using the data given, run a conjoint model and interpret the results. Make sure you discuss the part-worth coefficients, calculate importance weights, and use appropriate exchange rates to calculate monetary values. b) Now think of appropriate segmentation for the service. While there are many ways to segment, for now, let’s stick to using the demographic data we have (to make your life simple, the demographic data are neatly arranged for you in the tab called Demographics). Explore each of the demographic variables and suggest an appropriate segmentation you could use. c) Given your analysis, suggest an appropriate offering, i.e., specify what you will offer and at what price. You should provide a brief rationale for your offering. 4. In questions that involve data analysis, please do the following. First, present the results and any conclusions based on those results in the body of the answer. Regression results should be presented in the form of a table that is easy to follow (you don't need to have the complete output in the body of the answer). Second, submit the relevant Excel file (properly formatted, so | know which tab refers to which answer). Note. It is perfectly fine to ‘clean’ the data (although the data have been presented to you in fairly clean form). By this | mean you can decide to drop rows, as long as you state clearly why you have done so, and as long as you present the cleaned data in your Excel submission.
Answered 1 days AfterApr 20, 2023

Answer To: Please find the question in attached file and quote a reasonable price?

Banasree answered on Apr 22 2023
27 Votes
3.a)Ans.
Data analysis on the given summary output, there are three different regressions conducted to analyze the relationship between the rati
ng and price of a product at three different price points - 10, 20, and 30.
Each regression output contains coefficients that represent the part-worth utilities or part-worth coefficients. These coefficients indicate the extent to which each independent variable (rating) influences the dependent variable (price). Let say, At the $10 price point, the coefficient for rating is 6.408, at the $20 price point, it is 5.442, and at the $30 price point, it is 4.132. These coefficients suggest that for each one-unit increase in rating, the price of the product increases by the corresponding coefficient amount, holding all other factors constant.
The importance weights, first need to normalize the coefficients by dividing them by their sum. Therefore, the importance weights for each price point are as follows:
· At the $10 price point, the sum of the coefficients is 6.408, so the importance weight for rating is: 6.408 / (6.408 + 0) = 1.000
· At the $20 price point, the sum of the coefficients is 5.442, so the importance weight for rating is: 5.442 / (5.442 + 0) = 1.000
· At the $30 price point, the sum of the coefficients is 4.132, so the importance weight for rating is: 4.132 / (4.132 + 0) = 1.000
For the monetary value of a one-unit increase in rating, first need to multiply the part-worth...
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