Demographics of Raleigh, NC
Demographic and independent variables relevant to complete a demand analysis include population size and Average income per household. An area with a high population size is most likely to have potential for demand of products, According to the U.S. Census Bureau (2010) the there are 403,892 people in Raleigh, NC. In line with this, the population must be able to have disposable income to buy these products. The relationship between product demand and income is a good indicator of Gross Domestic Product. It is the broadest measure of income generated in the economy. However in demand analysis, personal or household incomes are useful. The income per capita of Raleigh is estimated at $29,771 (Sperlings Best Places, 2010). Therefore, it is critical for a serious business to consider these two demographic factors in demand analysis and estimation. The economy must be an active one in order for business to succeed. An active economy is one that records regular and substantial financial activities that is able to attract business.
In addition, it is expected that consumers must be willing and able to purchase products at lower prices. A business manager or an analyst must consider price as a factor in evaluation of demand. When establishing a new product or a business, it is critical for the manager to analyze prices of competitors as well as of substitute products. In this case, there are several Pizza businesses and it is critical to consider their prices to develop a comprehensive feasibility study and entry strategy. However, it is expected that an effective pricing strategy will adopt lower prices for a greater quantity in a bid to trigger demanded.
Demand Analysis
The demand analysis is done by inputting relevant data in Excel to estimate the demand for Pizza under two assumptions about what changes the quantity of Pizza demanded. Initially there will be the assumption of changes in price (PC) affecting the quantity demanded (Y) thereby using regression analysis to estimate the coefficients of the demand function.
Regression Equation
Y = a + b1X1 + b2X2 + b3X3 +b4X4
Where:
Y = Pizza demand
X1 = average price of a of pizza
X2 = Income per capita (Raleigh) 30,000 (State of North Carolina, 2012)
X3 = average price of a can of soft drink (in cents)
X4 = Area (1 Raleigh, 0 otherwise) a = constant value or Y intercept b1, b2, b3, b4 = coefficients of the X variables ‘
In this case there will be an evaluation of the statistical significance of the estimated coefficients
Coefficients; Standard Error; Confidence Intervals; T-statistic; P-value and the overall fit of the regression line R-square and F-statistic.
Therefore, according to data representation below, it appears as though there is a negative coefficient in the first variables meaning that there is an inverse relationship between the X and Pizza demand variables. However the per capita income coefficient is a positive one indicating that the people of Raleigh are able to buy Pizza if introduced. Neither the third variable, the price of soda, nor the forth variable, which is the area, do not have positive relation to the demand of Pizza. The standard error in all the four variables is below 1.0, which is an indication that there was a small variation in the estimates given different data samples. In addition, the ideal estimates of the coefficients are found within the confidence interval and analysis in this case can be 95% confident that the true value lies within that interval. In regard to the T test, the greater the value of t, specifically more than 2, the more the analyst can conclude that the estimated coefficient is significant at the 0.05 level. Therefore, it can be alluded that the results obtained from the sample are representative of the population. The P. value is an indication that there is a probability or chance that the true coefficient is actually zero. The results above show a greater P. value of the first variable and low on the other three variables. The lower the P-value for an estimated coefficient, the more confident the study is in the estimate. P-value of 0.05 or lower is commonly regarded low enough for a researcher to be confident that the estimated coefficient is statistically significant. Based on that, the estimated coefficient of variables 2, 3, and 4, are considered statistically significant. Based on the forecasting demand, Dominos should take caution in establishing a restaurant in Raleigh, NC. The data analysis does not paint an all good picture for such an investment in this area.
References
U.S. Census Bureau. (2010). GEO: Raleigh city, North Carolina 2010 Census. Retrieved October 22, 2012, from http://www.census.gov/prod/cen2010/profiletd.pdf.
Sperlings Best Places. (2010). Economy in Raleigh, North Carolina. Retrieved October 22, 2012, from http://www.bestplaces.net/economy/city/north_carolina/raleigh
State of North Carolina . (2012). County Estimates. Retrieved October 22, 2012, from http://www.osbm.state.nc.us/ncosbm/facts_and_figures/socioeconomic_data/population_estimates/county_estimates.shtm
Sheet4
SUMMARY OUTPUT
Regression Statistics
Multiple R. 0.84649854
R Square 0.7165597783
Adjusted R. Square 0.6712093428
Standard Error 1.6404787183
Observations 30
ANOVA
df SS MS F. Significance F
Regression 4 170.0874060378 42.5218515095 15.8005049075 0.0000014253
Residual 25-67.2792606288 2.6911704252
Total 29-237.3
Coefficients Standard Error’t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept 26.6668500385 3.2780846458 8.1348875701 0.0000000173 19.9155130617 33.4181870154 19.9155130617 33.4181870154
X Variable 1 -0.0877505051 0.0180620079 -4.8582918044 0.0000537929 -0.1249498807 -0.0505511295 -0.1249498807 -0.0505511295
X Variable 2-0.1382040915 0.0866460756 1.5950415587 0.1232684534 -0.0402467167 0.3166548997 -0.0402467167 0.3166548997
X Variable 3 -0.0758950582 0.0192256274 -3.9475985129 0.0005667496 -0.1154909513 -0.0362991651 -0.1154909513 -0.0362991651
X Variable 4 -0.5442785946 0.8846200963 -0.6152681777 0.5439383236 -2.3661865111 1.2776293218 -2.3661865111 1.2776293218
Sheet1
College Y X1 X2 X3 X4
1 10-100 14-100 1
2 12-100 16-95 1
3 13-90 8 110 1
4 14-95 7-90 1
5 9 110 11-100 0
6 8 125 5 100 0
7 4 125 12-125 1
8 3 150 10-150 0
9 15-80 18-100 1
10 12-80 12-90 1
11 13-90 6-80 1
12 14-100 5-75 1
13 12-100 1
14 10-110 10-125 0
15 10-125 14-130 0
16 12-110 15-80 1
17 11-150 16-90 0
18 12-100 12-95 1
19 10-150 12-100 0
20 8 150 10-90 0
21 9 150 13-95 0
22 10-125 15-100 1
23 11-125 16-95 1
24 12-100 17-100 0
25 13-75 10-100 1
26 10-100 12-110 1
27 9 110 6 125 0
28 8 125 10-90 0
29 8 150 8-80 0
30 5 150 10-95 0
Sheet2
Sheet3
Get Professional Assignment Help Cheaply
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Why Choose Our Academic Writing Service?
- Plagiarism free papers
- Timely delivery
- Any deadline
- Skilled, Experienced Native English Writers
- Subject-relevant academic writer
- Adherence to paper instructions
- Ability to tackle bulk assignments
- Reasonable prices
- 24/7 Customer Support
- Get superb grades consistently
Online Academic Help With Different Subjects
Literature
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Finance
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
Computer science
Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!
Psychology
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
Nursing
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Sociology
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
Business
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
Statistics
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Law
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
What discipline/subjects do you deal in?
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Are your writers competent enough to handle my paper?
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
What if I don’t like the paper?
There is a very low likelihood that you won’t like the paper.
Reasons being:
- When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
- We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.
In the event that you don’t like your paper:
- The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
- We will have a different writer write the paper from scratch.
- Last resort, if the above does not work, we will refund your money.
Will the professor find out I didn’t write the paper myself?
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
What if the paper is plagiarized?
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
When will I get my paper?
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
Will anyone find out that I used your services?
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
How our Assignment Help Service Works
1. Place an order
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
2. Pay for the order
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
3. Track the progress
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
4. Download the paper
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
