INU1111 Quantitative MethodsR

Java Python INU1111

Quantitative Methods

2023

1.0	Write your research statement
[2 marks]	Focus on The Perspective of The Restaurant Owner: How Does Price Related to The Number of Reviews
2.	Write an introduction to the research topic and your research question (200 words)
[20 marks]	In the contemporary landscape of online commerce, consumer decision-making is often influenced by a multitude of factors, with price and customer reviews playing pivotal roles in shaping perceptions and choices. As businesses strive to understand the dynamics of customer behaviour in the digital realm, an intriguing question emerges: How does the pricing strategy of a product or service relate to the number of reviews it accumulates? This question delves into the intricate interplay between pricing, consumer feedback, and the overall market dynamics, offering insights into the factors that drive customer engagement and influence purchasing decisions. The rise of e-commerce platforms, especially Just Eat, has revolutionized the way consumers access and evaluate products and services. In this digital era, online reviews have become a prominent source of information for potential buyers, offering real-world insights into the quality, performance, and overall value of a product or service. Simultaneously, pricing remains a critical factor influencing consumer choices, with individuals often seeking a balance between cost and perceived value. Research suggests that the number of reviews a product receives can significantly impact consumer trust and purchasing decisions. More reviews may signal popularity and reliability, contributing to a positive perception of the product or service. On the other hand, pricing strategies directly affect a product's perceived value, influencing consumers' willingness to make a purchase.
3.	Think about the variables and confounding variables (200 words)
[5 marks]	Numerical variables are types of variables in statistics and research that represent measurable quantities and can take on numerical values. Numerical variables provide information about the quantity or magnitude of the phenomenon being measured. In my research, the most obvious two numerical variables are price and number of reviews. Categorical variables are characterized by non-numeric values, and the transformation of a discretized numeric variable allows it to be construed as a categorical variable (Steve, 2011). A categorical variable is a type of variable in statistics and research that represents categories or labels and cannot be measured in numerical terms. One typical categorical variable in my research is represented as Just Eat Search Category.
[15 marks]	A confounding variable, also known as a confounder, is an extraneous variable in a research study that may affect the dependent variable and create a spurious or misleading association between the independent and dependent variables. Confounding variables can lead to inaccurate conclusions about the true relationship between the variables of interest. Star Rating Just Eat and Max Deliver Time could be the potential confounding variables that could affect the misunderstandings of data.
4.	Write your sample method (200 words)
[20 marks]	I select the restaurants which have the Just Eat Search Category of Breakfast, which are 206 rows in total of them. Simple random sampling is considerable to sample 100 rows from the amount. Use the calculation from Minitab, select random data, sample from columns, it will then have a window of the specific operations. Print 100 in the box of number of rows to sample, from columns I select C1: Restaurant ID Code, and store samples in another blank column. It gives the random restaurant ID code by the selection from 206 rows eventually. Simple random sampling is the most straightforward and prevalent technique for sample selection. In this method, the sample is chosen unit by unit, with each unit having an equal chance of being selected in each draw (Singh, 2003, p. 71). Additionally, in this approach, the researcher creates a numerical list encompassing the entire sample size. When dealing with a large sample size, they utilize a computer program to generate random numbers, resulting in a population list for the specific research project (Shagofah, 2022). When a comprehensive list of a larger population is unavailable, individuals aiming to perform. simple random sampling need to collect data from alternative sources. Utilizing publicly accessible smaller subset lists can be employed to reconstruct a complete list of the larger population, but this process requires a considerable amount of time (Melissa, 2023).
5.	Calculate a set of descriptive statistics and create a graph (200 words)
[30 marks]	Statistics Variable City N N* Mean StDev Variance Minimum Q1 Median Q3 INU1111 Quantitative MethodsR Maximum Price (£) London 38 0 5.910 3.203 10.258 2.290 3.148 4.850 8.810 12.990 Newcastle 62 0 5.415 2.217 4.915 1.990 3.650 4.925 6.963 11.000 Variable City IQR Price (£) London 5.662 Newcastle 3.313 I calculated and created graphs of the restaurants from two different locations by comparing, that is, 38 of restaurants in London and 62 in Newcastle. Restaurants in London has a higher average price than those in Newcastle, it indirectly defined by the minimum and maximum price. The London restaurants exhibit significantly higher variance and standard deviation compared to those in Newcastle. However, it seems that Newcastle restaurants have a concentrate data since the inter quartile range is tighter. Additionally, the median of restaurants in Newcastle surpasses that in London. These elements had been included by the graph and the boxplot. The graph provides a more comprehensive presentation of information. Specifically, London restaurants has two fluctuations which Newcastle restaurants has only one, which is obvious on the histogram that frequency against price. London, reaches the peak of frequency of the reviews number with the price of about £3, and gains another rise from the price of £10. Newcastle restaurants are concerningly more regular with the reason that it reaches one peak of the number of reviews frequency only, that is, in £4, it then gradually decreases. To sum up, in personal opinion, the number of reviews of a restaurant depends on the price, which is suitable rather than higher price is better.
6.	Support with references
[8 marks]	Horvath, S. (1970) Networks between categorical or discretized numeric variables, SpringerLink. Available at: https://link.springer.com/chapter/10.1007/978-1-4419-8819-5_14 (Accessed: 25 November 2023). Singh, S. (2003). Simple random sampling. In advanced sampling theory with applications (pp. 71-136). Springer, Dordrecht. Noor, S. (2022) (PDF) simple random sampling - researchgate, ResearchGate. Available at: https://www.researchgate.net/publication/366390022_Simple_Random_Sampling (Accessed: 25 November 2023). Horton, M. (2023) Simple random sample: Advantages and disadvantages, Investopedia. Available at: https://www.investopedia.com/ask/answers/042815/what-are-disadvantages-using-simple-random-sample-approximate-larger-population.asp (Accessed: 25 November 2023)