Quantitative Analysis Market Trends And Developments And...

†¢ Number of kilometers target customers located from *** company: 5 km – 10 km 10 km – 15 km 15 km – 20 km 20 km – 25 km 25 km – 30 km 30 km – 35 km 35 km – 40 km Quantitative analysis techniques Results Result mean in terms of market trends and developments and impact on the business mean 20 km The mean (or average) is the most popular and well known measure of central tendency. It can be used with both discrete and continuous data, although its use is most often with continuous data median 20 km – 25 km The median is the middle score for a set of data that has been arranged in order of magnitude. The median is less affected by outliers and skewed data mode none The mode is the most frequent score in our data set. On a histogram it represents the highest bar in a bar chart or histogram. You can, therefore, sometimes consider the mode as being the most popular option In this case, the business goes with the mean data analysis; the customers coming in the hotel will be within the range of 20kms. If they go with median data analysis, range will only be with in 20 and 25kms. And if the go with the mode data analysis, the range could be anything from 5 to 40kms 4. Identify and review a range of external sources of information (such as relevant books and articles, information on the internet, benchmarking studies) in order to conduct a qualitative analysis of comparative market data for your business. Write up the results of your qualitative analysis. 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