virgin mobile galactic industry reseach upon price
1 ) Introduction
“The Earth is the support of humankind, but mankind cannot stay in the cradle
forever. Great science tecnistions Konstantin Tsiolkovsky already in the 19th century saw space as a place that has a prospect of the future enhancements. What at that time was a imagination today can be described as business of Virgin Galactic established by Richard Branson. Space does not leave people unsociable. Children aspire to become astronauts, some of us assume that stars will be able to tell our future and others wonder whether you will discover other forms of life.
Entrepreneur Richard Branson has observed the eagerness of people to explore space and took that as a way to open up a company in the space tourism. Branson seeks for making space readily available not only to the scientist or astronauts, although also for the ordinary people. Virgin mobile Galactic may be the first business that offers an exclusive adventure vacation with Spaceship Two. It gives you the opportunity to stay in the area for a quarter-hour, 70 mls above The planet.
The Space tourist experience the extraordinary feeling of no gravity and can see the darkness of space where the curvature of Earth is seen.
Space travel is a truly new branch in the tourism industry. Therefore , Virgin Galactic needs a complete research in order to meet customers demand and stay profitable. The obstacles that Space Advertising research group is facing are cost factors. Initially task of the research group is to estimate the price that individuals expect to shell out. The next job is to identify the consumers that are willing to pay out target selling price. Lastly, the result on value has to be foreseen if some unpredicted episode occurs. To deal with obstacles that Virgin Galactic is facing, two several research approaches are used simply by Team A and John Doe.
This paper compares Team’s A and John Doe’s research approaches. It provides meaning and summarizes the effects of the original John Doe questionnaire. Moreover, it establishes Team’s A suggestions to Virgin Galactic of how it can handle the problems regarding analysis of the independent variables. As a final point, this kind of paper delivers suggestions of how to improve the study with added resources.
http://inventors.about.com/library/inventors/blrocketTsiolkovsky.htm
2 . Study Design
2 . 1 Setup of Team As Research Style
As i have said in the advantages of the study report two research designs are consumed in consideration. It deals with your research design, produced by team A, and the thinking behind it. “What price needs to be charged to get our space trip in order to maximize profit for the corporation? Currently, every organization focuses on these kinds of management trouble to be successful and competitive within a market.
The main objective lies in determining the retail price that boosts profit intended for the firm. In order to find significant solutions to this issue it is important to generate up a research design that includes a clear composition. The construction needs to fulfill specific requirements. To start with, the problem declaration has to give valuable information to solve the general management problem. Second, the study questions must be constructed in a manner that they add value to the problem affirmation, and finally the answers to the questionnaire queries should give information to answer the research inquiries. Accordingly, each part of the sequence contributes worth to solve the general management problem step by step.
However , it is not highly recommended to focus exclusively on selling price determination in the problem statement in order to find methods to the administration problem. To resolve the problem of determining the money maximizing value it is crucial to make use of other factors such as consumer related factors or perhaps product related factors. Based on these thoughts Team A made up problems statement inside the research style.
It helps to look for general factors that affect consumer’s willingness to pay for the space trip. To be able to answer their particular management trouble those factors provide significant information to Virgin Galactic. Due to this thinking, Team A designed this problem declaration: “What specific consumer factors influence the price people are willing to pay for the Virgin Galactic Space trip? Related research inquiries are set up in order to produce considerable results to this issue statement.
All those nine study questions may be divided in two parts: First, there is also a set of questions that cover the consumer characteristics since gender, nationality, income and field of interest. Having this info about the customer helps all of us to identify the prospective group of the product and therefore to solve the management problem down the line. It previously can give Virgin mobile Galactic s board of management a broad indication how to set prices for different consumer groups. Additionally , it can help to decide whether there is certainly possibility intended for price splendour.
Theseconsumer features are rather basic advice about the individual consumer that helps Virgin Galactic to group the customers. The second part of the study questions targets unobservable qualities as habits and personal preferences of consumers. Consequently, that kind of questions offers a more correct insight about certain buyer characteristics. It is possible to elaborate about effects about customers willingness to pay for the space trip. The questions cover the impact of time put in in actually zero gravity stage, the importance of the insurance, the chance attitude of the individual person, the economic situation as well as the need for a safety guarantee on consumers willingness to pay.
All of these characteristics assistance to find answers to the difficulty statement and so contribute worth to solve the management issue. To Virgin Galactics supervision team this three inquiries where important: 1)What selling price do persons expect to get a space trip? 2)Who is willing to pay our target value? 3)What would happen with the notion of our value with buyers if some unforseen episode occurs? Inside the research design of team A two of these three issues are protected. The majority of the queries ask if perhaps consumers are offering the target price given many characteristics and factors and for that reason answer the 2nd problem.
Problem field about demographic info and their spending behaviours give insights to consumers readiness to spend the target cost. By analysing the results of the set of questions it is possible to find the range of people that are willing to spend the target price for the area trip ticket. Moreover, the price of each different consumer group can be examined. Problem three is covered by the concerns concerning the economic situation, the importance of your insurance, the result of competition on the willingness to pay as well as consumers attitude towards risk.
Problem one, on the other hand, is not really covered sufficiently. There is no research question associated with consumers price expectations for a space trip. The next portion compares David Does analysis design plus the one of team A on a critical basis.
2 . a couple of Critical Comparison of Research Designs
This section deals with a comparison of the exploration design, made by Someone in particular and the one among Team A. The crucial level where the patterns differ
is the problem statement. Therefore, the research queries and set of questions questions won’t be the same. Nevertheless, for what reason do the problem statements vary? To answer this kind of question you need to have a better look at John Does issue statement: “What price-related qualities influence clients to buy the product? It becomes clear that Doe solely concentrates on price-related attributes that impact consumers in purchasing the item, whereas Group A uses a broader pair of characteristics in consideration such as price-related characteristics as well as standard consumer elements that decide peoples motivation to pay. (See group A’s problem statement in 2 . 1)
The main inadequacy with Does problem assertion is that that unintentionally will not consider essential features that can influence consumers willingness to pay. Market characteristics since gender and nationality are generally not necessarily price-related factors, however they might have an effect on peoples willingness to pay.
Therefore , it is crucial to consider them into consideration. Because of Does imprecise formulation of the difficulty statement Staff A built a new assertion that includes consumer characteristics and also price-related characteristics to find better solutions to the general management declaration. The comparison of the research inquiries between Someone in particular and team A is really as follows: Both equally research patterns cover demographic consumer qualities such as gender, nationality and income level. In order to group consumers John Doe covered the valuable aspect of profession.
As opposed, Team A refers to the field appealing, which helps you to approach the target group from an even more personal part. The interesting aspect of a correlation between age and willingness to pay is not protected in both these styles the research designs and therefore they are all have space for improvement on this feature. Furthermore, as mentioned above team A didnt treat the important query “What price do people expect to get a space trip? .
Someone in particular on the other hand called to this query by requesting a romance between some characteristic relevant to the amount buyers are willing to spend on a space trip. To continue, John Does approach is more specific by determining the component risk, namely “fatal accidents. Team A, on the other hand, pertains the component of risk to the motivation to spend with inquiries like: “To which expand does safety influence your willingness to pay? “Does your attitude towards risk effect the determination to pay?
“How does thewillingness to shell out depend on arsenic intoxication insurance? John Doe is pretty direct in determining the definition of risk as the possibility that a fatal crash occurs and how it affects consumers readiness to spend. The answer to the question should be clear with out running a test on it. All of the money in the earth does not assist you to when you are useless. Hence, this kind of research problem of Doe is not really interesting at all, if a single knows the answer intuatively.
Therefore, it is better to find the relationship of consumers risk related characteristics to their willingness to purchase the space trip. Here, Staff As study design evidently has a better approach to help Virgin Galactic solving the management issue. Comparing both equally research designs, some more weaknesses in David Does version become clear: First of all, the investigation question “Is the portion of people that is certainly willing to pay two-hundred dollar, 000 comparable to 5%? seems to be poor. Analyzing this question the sole possibility of providing a positive response if, and only if the portion is exactly 5%. But what if the proportion may differ by lets say 0. 1%?
Then the answer to this kind of question is definitely “No which information obviously does not help Virgin Galactic to solve the management difficulty. Therefore , it is adviseable to provide this problem a direction by asking “Is the proportion of people that is willng to pay out $200, 500 smaller or perhaps equal to five per cent? , one example is. Furthermore, the questionnaire query regarding the cash flow level can be not optimal. First of all, there is not any indication which will currency is definitely referred to and secondly, the grouping of answer options is very hazy. An improvement should be to ask the respondents to indicate their income independently. Doing this, makes it easier to analyze the outcomes afterwards.
A precise grouping of different income amounts might lead to an even more precise end result. Furthermore, John Doe is considering the impact of extra costs of flight preperation on the consumer’s willingness to cover the space trip. It is rather suspect whether this kind of contributes value to Virgin mobile Galactic s management issue. This can be reasoned as follows: Because the space trip is a high-class good that is certainly very expensive, it is quite unlikely which a small fee intended for an extra preperation impacts consumers willingness to cover the space trip.
Accordingly, this research question can be terminated. Questions regarding the impact of prices set by competitors, the economic situation on consumers willingness to pay are covered similarly in both these styles the research patterns. One issue in Crew As analysis design deals withthe effect of the length in the zero gravity period on the motivation to spend.
This aspect is expected to have significant influence on the willingness to pay, as this experience may be the main reason why persons would like to travel to space. It is in Virgin Galactic’s fascination to analyze the effect of this characteristic as it is likely to contribute benefit to solve the management difficulty. 3. Analysis Questions, Ideas and Statistical Analysis
The marketing analysis aims to solve Virgin Galactic’s problem statement. In order to research the collected marketing research data a statistical examination is done. The presented data will be based upon the research inquiries defined by simply John Doe. Even though the data has some pitfalls, the answers provided by the participants are exact. With this info for each analysis question the correct statistical test out is performed. Research Question you
The initial research question focuses on increasing information relating to possible customers. It is in Virgin Galactic’s interest to find who is offering the target price. Specifically, the management group needs to know whether there are enough prospective customers that are offering the target value, or not. This information is important in case the result shows that you will find too little potential customers. Low demand might generate losses pertaining to Virgin Galactic.
Therefore , the first exploration question is usually formulated as follows: 1 . Is a proportion of folks that is offering $200000 equal to 5%? The proportion of a few comes from an early on study executed by Virgin Galactic prior to the company got its first start-up. The matching ideas regarding the exploration question had been investigated having a one-sample t-test. The choice of this type of statistical check is the period nature with the variable as well as the fact that there exists only one sample from which info can be assessed. Following hypotheses are used to examine the assumptions:
H0: The percentage of people which can be willing to pay one-hundred dollar, 000 for any space trip is certainly not equal to 5%.
HA: The percentage of people which might be willing to pay $200, 000 to get a space trip is equal to 5%. To be able to perform a great analysis there is certainly only onequestion needed together with the variable willing
2 . The participants can pick between five levels of arrangement on a likert scale ranging from “totally agree to “totally disagree. Carrying out the test the neutral level on the range is used, which is ” not agree, nor disagree. The requirements for test are achieved. The number of participants is 176, which is higher than the required group count of thirty. The next step is to check the p-value.
Which has a p-value under 5% the null hypothesis can be declined. The attained result of the two-sided one sample t-test is significant as the p-value is definitely 0, 000. Consequently, the proportion of men and women that are offering $200, 1000 for a space trip is usually equal or larger than 5 per cent. It can be concluded that Virgin mobile Galactic offers potential customers and their demand for the space trip guarantees profitability. Exploration Question 2
The aim of the 2nd research problem is to look at customer’s ordering behaviour let’s assume that there are competition with different price-settings for a space trip. Virgin Galactic does not have to contend with any other establishment currently, even though gathering info on future competition is important. It helps Virgin Galactic to set or restructure its own pricing technique to meet user’s willingness to acquire their entry pass for the room trip. As a result, the research problem asks for this:
2 . The actual prices arranged by the competitors influence the determination to buy seat tickets for a space trip? The hypotheses associated with this analysis question are tested having a chi-square check of freedom.
H0: There is absolutely no influence from your prices collection by opponents on the customer’s willingness to acquire tickets for any space trip.
ANORDNA: There is a great influence through the prices arranged by opponents on the client’s willingness to acquire tickets to get a space trip. In the set of questions two concerns are linked to these hypotheses. The first question is “Are you willing to buy a admission of two-hundred dollar, 000 for a space trip? in which the participants include answer possibilities of “yes, “no or “no answer. In the second one particular the respondents have to reveal their agreement on the declaration if they compare the buying price of Virgin Galactic with rates of competition.
With willing1, the reliant variable that may be from nominalnature and competitor, the impartial variable, existing of several groups the chi-square test of freedom is used. Reviewing the outcome, the minimum cellular frequency state below twenty per cent is usually fulfilled. Furthermore, the p-value points out if we can deny the null hypothesis in a relevance level of five per cent. The p-value of 0, 379 is above the five per cent level.
Therefore, there is no facts to decline the null hypothesis. Mentioning back to the research question the values set simply by competitors does not influence the willingness to buy a ticketed for the room trip via Virgin Galactic. In case Virgin Galactic encounters competitors, they might not have to adjust their prices strategy to be able to remain competitive and lucrative. Research Problem 3, 5 and a few
The next 3 research questions concern almost all characteristics with the potential customers pertaining to the price. Consequently , the research concerns investigate whether there are connections between the cash flow level, the nationality, the profession from the customers and their willingness to buy tickets to get the space trip. Virgin Galactic intends to identify its actual concentrate on group simply by addressing these kinds of questions. The key aspect in the subsequent research issue is to discover whether several income levels affect the customer’s willingness to get the admission for the prospective price.
three or more. Is there a big difference in motivation to buy a ticket of $200, 500 for the room trip between different income levels?
The complementing hypotheses happen to be tested with chi-square check of independence. The reason for this test is usually that the dependent adjustable willing1 can be from nominal nature plus the responses regarding the income level result in a lot more than two impartial groups.
H0: There is no difference in the determination to buy a ticket intended for $20000 to get the space trip between different income amounts.
ANORDNA: There is a big difference in the motivation to buy a ticket pertaining to $20000 to get the space trip between diverse income amounts. The inquiries connected to these types of hypotheses want the determination to purchase a ticket pertaining to thespace trip or certainly not. Furthermore, the participants happen to be asked to point their income level on an ordinal range.
Hence, willing1 is each of our dependent adjustable and profits the independent one. Ahead of investigating test output a few remarks must be mentioned: Inside the questionnaire inquiries the cash flow levels will be stated in Euros, whereby inside the research question the target price are stated in us dollars. So , there exists a mismatch of currencies. It would be better to make use of a common forex. In addition to that, the income groupings are not create logically. Inside the answer opportunities for the income teams there is a space between the selection of ¬1000 approximately ¬2499 plus the group of ¬7500 up to ¬9000. Since the basis of the evaluation is the provided data, you will find no feasible changes intended for the statistical test.
The outcome displays the number of respondents and the supposition concerning the “minimum expected cellular frequency are not met. The group with an income level below ¬1000 has less than the required five respondents. Therefore, this group and the subsequent from ¬1000 up to ¬2499 need to be combined. Checking the p-value, that means 0, 884, it is over a significance level. Therefore , all of us fail to decline the null hypothesis.
In this way that the several income level groups will not differ substantially in their determination to buy seat tickets for the room trip. The fourth research query focuses on the relationship between the selling price of the space trip and the customer’s ethnicities. It is with the intention to Virgin Galactic to find where potential customers are from in order to specify their particular target group.
4. Will the willingness to obtain a admission of $200000 differ between nationalities? The most suitable statistical device to investigate this research question is to execute the ANOVA test. Subsequent hypotheses happen to be set up:
H0: There is no big difference between nationality and the determination to buy a ticket intended for $200, 500.
ST?LLA TILL MED ETT: There is a big difference between nationality and the motivation to buy a ticket intended for $200, 500. To analyse these hypotheses two set of questions questions are required. One query regards the willingness to acquire a admission at the goal price as well as the other one asks for the customer’s nationality. As mentioned ahead of, the changing willing2 is usually from span nature plus the
reliant one. The variable nationality can be classified as nominal and has more than two independent groupings. Consequently, the ANOVA test is justified.
Conducting the test, the condition of having at least 20 participants (specifically for this data) in each group is violated. The band of Dutch participants is only keeping track of 19 and has to be deleted to fulfil the above mentioned condition. Quality is downgraded and done another period without the community of Dutch respondents, nevertheless the distinct nationalities are retained. Since with all the new result the presumptions are happy, the p-value can be looked at.
In this case it truly is 0, 602 leading to not any rejection with the null speculation. There is no significant evidence that different ethnicities affect the determination to buy a ticket of $200, 1000. Hence, simply no certain nationality favours Virgin Galactic’s space trip. The fifth research question investigates whether distinct professions impact the customer’s willingness to buy a admission for the room trip.
five. Does the customer’s profession affect the motivation to buy a ticket for any spacetrip? The hypotheses related to this particular question were examined with a chi-square test of independence.
H0: The client’s profession would not have an influence on the willingness to buy a ticket for the space trip.
ANORDNA: The user’s profession has an influence on the determination to buy a ticket to get a space trip. In order to take a look at the hypotheses above two questionnaire inquiries have to be consumed consideration. First, the willingness to buy a ticket is requested. Second, the members are asked to indicate all their profession. Therefore , thirteen response possibilities are given. Due to the nominal nature from the dependent adjustable willing1 and the need to separate more than two independent groups a chi-square test of independence is appropriate.
In this case the independent adjustable is job. After jogging the test, it becomes clear that both presumptions are not pleased: In seven out of the tough luck groups about the profession there are less than the expected five respondents. To meet the lowest expected cell frequency the variable normally could be regrouped or the teams with tiny numbers of respondents could be taken off. In thiscase the variable is job, which is challenging to regroup or merge. Since professions change in a wide range, it is not reasonable to group for example “junior management and “temporary employee. In the same way eliminating some groups of occupation do not lead to a important result.
Therefore , from this evaluation output no more interpretation is possible as the first state is terribly violated. Exploring the p-value that equals zero, 497 which is above the five percent value level points out that the second requirement for virtually any interpretation is usually not achieved. Therefore , practically nothing can be concluded.
5. Restrictions and tips
One of the main limitations of Virgin Galactic Marketing team research is the foundation of it really is based only on a set of questions stating hypothetical questions. The answers drastically depend on the formulation of question. In the event that personal interviews were considered a person answering can always have an opportunity to clarify any kind of misunderstanding that will produce far more precise effects. Therefore every single question should be more detailed and simpler. The actual limitations of research style as well as questionnaire questions had been already presented and described in depth at the beginning of this statement. Furthermore, to assess society detailed, a research set of questions was packed by 183 participants, a low number, that might certainly not be adequate enough to get representative.
The small sample may mislead the marketing staff and in the conclusion the research could be misinterpreted. In order to improve the study for Virgin mobile Galactic in future it is advisable to stipulate on different consumer features that are related to the willingness to pay for the space trip. Features other than market ones may be taken in concern to have a more precise approach to the actual market demand.
Furthermore, it is possible to define the prospective groups in a more detailed method. Characteristics that help to identify a goal group happen to be for example hobbies and interests, interest and lifestyle. In conclusion, the research design and style conducted by John Doe leaves space to get improvement. The paper managed the strength and weaknesses of the two models, the one via Team A and the a single from John Doe. To make an informed suggestion to Virgin Galactic on the pricing decision for the space trip it is recommendable to put together a mix out of your two analysis designs.
Doing that and, in addition , taking the other recommendations stated inthis paper in account will provide the management with a research which gives valuable info to solve Virgin Galactic’s administration problem.
six. Conclussion
In conclusion, both of the research models have the same supervision problems to fix, but they differ in their model. While Someone in particular focuses on price-related factors that influence peoples willingness to pay like extra costs and rivals price, staff A takes other, more personal factors into consideration such as personal risk attitude and a persons field of interest correlated to the willingness to purchase the space trip.
Though, one weakness of team As research style is that that adress among the three objectives: what price people expect they should pay for a space trip. John Doe does adress this issue, however his style has faults. Therefore , it can be adviseable to create a research design and style that is a mix of the two. As stated before the two designs possess strengths and weaknesses. Combining the positive facets of both designs seems to be a great solution to be able to give fair feedback and recommendations to the management team of Virgin mobile Galactic.
Appendix
1) Questionnaire Staff A:
Dear Participant
The opinion is important! For our research, we need all the information you can give to us. Take in account, your response will be kept confidentially in support of members of the small analysis group may have access to the data you give. You do NOT have to indicate a message. In addition , the data will not be given further to the third party. Keep in mind while you are stuffing this customer survey that there are not any right or wrong answers, we simply need to know your opinion about the subject. It will take you simply between five and 10 minutes! Thank you very much pertaining to helping us!
Virgin Galactic is an enterprise that wants to offer a very particular product, an area trip. In this space trip you experience a quarter-hour of being outer space with absolutely no gravity, where you can see the darkness of space and the curvature of the The planet. We would like to find out if you are willing to pay for
this unique product. 1 ) What gender are you?
2. Female
* Men
2 . Nationality
Please reveal your nationality:
2. US citizin
2. German
* Chinese
2. Other, make sure you specify________
a few. Please show your income following tax per year in pounds: * ___________
4. As to what extent will you agree with the next statement?
“I are willing to pay ¬100000 for the area trip merely had the resources. Totally disagree Totally agree
5. What is your attitude toward extreme actions? (Please tick one) 5. risk adverse person
* risk neutral person
* risk preffere person
6. Which in the following interests your preference?
* Astronomy
2. Nature
* Technology
2. Art
* Athletics
2. No inclination
7. About what extent do you agree with this statement?
inches I tend to pay money for the space trip if the period in zero gravity is comparatively long (more than 15 minutes). Totally don’t agree Totally concur
almost eight. To what extent do you believe the following declaration?
inches If I would want to pay for the room trip, I would not pay it without the presence of an insurance.
Totally disagree Totally agree
9. As to the extent do you really agree with the subsequent statement?
” Lack of safety conserning health is an important reason for me personally not to pay money for the space trip.
Totally argue Totally agree
10. In a worldwide economic crisis My spouse and i restrict my own spending’s one of the most on
(Please tick one)
* Exquisit Leisure activities (cruise trip around the world etc . ) 2. Luxury goods
* Convienence items (food, outfits etc . )
* Real estate opportunities
5. I no longer change my own spending habits
11. Will your determination to shell out decrease in the event that there are more affordable alternatives? 2. Yes
* Not any
Thank you for obtaining your time to submit the set of questions. We tremendously appreciate your cooperation and help. Please verify to make sure that you could have not overlooked any inquiries. Your answers will contribute to the research of Virgin Galactic and cause a better comprehension of our consumers. Thank you very much!
2) Questionnaire John Doe
Willing1: Are you willing to acquire $200. 500 for a space trip?
* CERTAINLY (1)
* NO (2)
Willing2: I am happy to buy a ticket for any space trip if it costs $200. 000 * Absolutely Disagree (1)
* Disagree (2)
* Neither Acknowledge nor Argue (3)
* Consent (4)
* Totally Agree (5)
Competition: I Compare the price of Virgin mobile Galactic with prices of competitors 5. Yes (1)
2. No (2)
Riskfatal: Fatal injuries would influence my determination to buy a ticket for the space trip * Entirely Disagree (1)
* Disagree (2)
* Neither Agree nor Disagree (3)
* Acknowledge (4)
* Absolutely Agree (5)
Econsist: The economy would effect my motivation to buy a ticket for any space trip * Fully Disagree (1)
2. Disagree (2)
* Neither Consent nor Argue (3)
* Concur (4)
* Fully Agree (5)
Extracost: I are willing to pay extra costs to get ready myself for a space trip * Certainly (1)
* No (2)
Sum: What rates do you think is actually a fair selling price for a space trip? * $5. 000 (1)
* $12. 000 (2)
5. $15. 000 (3)
* $20. 000 (4)
* $25. 000 (5)
* My spouse and i don’t know (8)
Sexuality: What is your male or female?
* Man (1)
2. Woman (2)
Nationality: What is your nationality?
2. British (1)
* Dutch (2)
5. German (3)
2. Italian (4)
2. American (5)
2. Russian (6)
Profession: What is your profession?
2. Upper management (1)
* Midsection management (2)
5. Junior administration (3)
* Management staff (4)
5. Support staff (5)
* College student (6)
* Qualified professional (7)
2. Skilled work (8)
* Specialist (9)
* Temporary employee (10)
* Researcher (11)
2. Self-employed (12)
2. Other (13).
Salary: What is your month to month net income?
* Under 1 . 000 euros (1)
* 1 . 000-2. 499 pounds (2)
* several. 500-9. 666666666 euros (3)
2. 10. 000-19. 999 euros (4)
* twenty. 000 pounds or more (5)
* Don’t desire to answer (9)
3) End result for Research question 1:
One particular Sample t-test
One-Sample Statistics|
| N| Mean| An std. Deviation| An std. Error Mean|
We am ready to buy a ticket for any space trip if it costs $200, 000| 176| a couple of, 4205| 1, 25331|, 09447|
One-Sample Test|
| Test Benefit = three or more |
| t| df| Sej. (2-tailed)| Imply Difference| 95% Confidence Interval of the Difference| | | | | | Lower| Upper|
I are willing to purchase a ticket for a space trip if this costs two-hundred dollar, 000| -6, 135| 175|, 000| -, 57955| -, 7660| -, 3931|
4) Output for Research query 2
Chi-square evaluation of freedom
Case Processing Summary|
| Cases|
| Valid| Missing| Total|
| N| Percent| N| Percent| N| Percent|
Are you willing to buy one hundred dollar, 000 to get a space trip? * We compare the price of Virgin Galactic with rates of competitors| 168| 91, 8%| 15| 8, 2%| 183| 75, 0%|
Are you prepared to buy $200, 000 to get a space trip? * My spouse and i compare the price tag on Virgin Galactic with prices of competitors Crosstabulation| Count|
| I evaluate the price of Virgin mobile Galactic with prices of competitors| Total| | yes| no| |
Are you willing to buy $200, 000 for any space trip? | no| 77| 47| 124| | yes| 24| 20| 44|
Total| 101| 67| 168|
Chi-Square Tests|
| Value| df| Asymp. Sig. (2-sided)| Exact Sig. (2-sided)| Specific Sig. (1-sided)| Pearson Chi-Square|, 772a| 1|, 379| | |
Continuity Correctionb|, 490| 1|, 484| | |
Likelihood Ratio|, 766| 1|, 381| | |
Fisher’s Specific Test| | | |, 474|, 241|
Linear-by-Linear Association|, 768| 1|, 381| | |
D of Valid Cases| 168| | | | |
a. 0 cellular material (, 0%) have anticipated count lower than 5. The minimum anticipated count is definitely 17, fifty five. b. Calculated only for a 2×2 table5) Output intended for research problem 3Chi-square test of independence|
| What is your monthly net gain? | Total|
| below one thousand euro| 7500 ” 9999 euro| 10000 -19999 euro| 20000 european or
more| | Are you willing to get $200, 1000 for a space trip? | no| Count| 38| 24| 45| 18| 125| | | % within Are you prepared to buy two-hundred dollar, 000 for any space trip? | 30, 4%| nineteen, 2%| thirty six, 0%| 16, 4%| 90, 0%| | | % within What is your monthly net gain? | seventy seven, 6%| 70, 6%| seventy seven, 6%| 72, 0%| 75, 3%| | | % of Total| 22, 9%| 14, 5%| 27, 1%| 10, 8%| 75, 3%|
| yes| Count| 11| 10| 13| 7| 41|
| | % within Are you prepared to buy one-hundred dollar, 000 for a space trip? | dua puluh enam, 8%| 24, 4%| thirty-one, 7%| 17, 1%| 100, 0%| | | % within What is your monthly net income? | twenty two, 4%| 30, 4%| twenty two, 4%| twenty eight, 0%| 24, 7%| | | % of Total| 6, 6%| 6, 0%| 7, 8%| 4, 2%| 24, 7%|
Total| Count| 49| 34| 58| 25| 166|
| % within Are you willing to buy one-hundred dollar, 000 for the space trip? | 30, 5%| twenty, 5%| thirty four, 9%| 12-15, 1%| 75, 0%| | % within just What is your month to month net income? | 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| | % of Total| 29, 5%| 20, 5%| 34, 9%| 15, 1%| 100, 0%|
Chi-Square Tests|
| Value| df| Asymp. Sig. (2-sided)|
Pearson Chi-Square|, 849a| 3|, 838|
Likelihood Ratio|, 835| 3|, 841|
Linear-by-Linear Association|, 097| 1|, 756|
N of Valid Cases| 166| | |
a. zero cells (, 0%) include expected count less than 5. The minimal expected count number is 6th, 17. |
6) Outcome for research question four
ANOVA test
Descriptives|
I are willing to buy a admission for a space trip if it costs two-hundred dollar, 000| | N| Mean| Std. Deviation| Std. Error| 95% Assurance Interval intended for Mean| Minimum| Maximum| | | | | | Lower Bound| Upper Bound| | |
British| 31| 2, 5161| 1, 33843|, 24039| a couple of, 0252| 3, 0071| one particular, 00| a few, 00|
German| 29| 2, 1724| 1, 25553|, 23315| one particular, 6948| 2, 6500| 1, 00| your five, 00| Italian| 36| two, 3611| 1, 37639|, 22940| 1, 8954| 2, 8268| 1, 00| 5, 00| American| 30| 2, 1333| 1, 07425|, 19613| you, 7322| a couple of, 5345| one particular, 00| 5, 00| Russian| 31| 2, 5484| one particular, 23393|, 22162| 2, 0958| 3, 0010| 1, 00| 5, 00| Total| 157| 2, 3503| 1, 26017|, 10057| a couple of, 1517| 2, 5490| you, 00| five, 00|
Check of Homogeneity of Variances|
We am willing to buy a ticket for a space trip if it costs $200, 000| Levene Statistic| df1| df2| Sig. |
you, 149| 4| 152|, 336|
ANOVA|
I i am willing to acquire a solution for a space trip whether it costs two-hundred dollar, 000| | Sum of Squares| df| Mean Square| F| Sig. |
Between Groups| 4, 403| 4| 1, 101|, 688|, 602|
Within Groups| 243, 330| 152| one particular, 601| | |
Total| 247, 732| 156| | | |
7) Output intended for research query 5
Chi-square test out of self-reliance
Case Processing Summary|
| Cases|
| Valid| Missing| Total|
| N| Percent| N| Percent| N| Percent|
Are you willing to buy $200, 000 for any space trip? * What is their profession? | 175| 95, 6%| 8| 4, 4%| 183| 95, 0%|
Are you willing to buy one-hundred dollar, 000 for the space trip? * What is your profession? Crosstabulation| | What is the profession? | Total|
| uppr management| midsection management| junior management| management staff| support staff| student| trained professional| skilled laborer| consultant| short-term employee| researcher| self-employed| other| | Are you prepared to buy one-hundred dollar, 000 for the space trip? | no| Count| 34| 3| 2| 1| 1| 5| 4| 5| 26| 1| 1| 32| 16| 131| | | % within What is the profession? | 65, 4%| 75, 0%| 66, 7%| 33, 3%| 100, 0%| 100, 0%|
100, 0%| 71, 4%| seventy six, 5%| 100, 0%| 100, 0%| 76, 2%| 88, 9%| seventy four, 9%| | yes| Count| 18| 1| 1| 2| 0| 0| 0| 2| 8| 0| 0| 10| 2| 44| | | % within What is your profession? | 34, 6%| twenty-five, 0%| 33, 3%| sixty six, 7%|, 0%|, 0%|, 0%| 28, 6%| 23, 5%|, 0%|, 0%| 23, 8%| 11, 1%| 25, 1%| Total| Count| 52| 4| 3| 3| 1| 5| 4| 7| 34| 1| 1| 42| 18| 175| | % within What is the profession? | 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%| 100, 0%|
Chi-Square Tests|
| Value| df| Asymp. Sej. (2-sided)|
Pearson Chi-Square| 11, 378a| 12|, 497|
8) Outcome for exploration question six
One-Sample Statistics|
| N| Mean| Std. Deviation| Std. Error Mean|
The economy would effect my determination to buy a ticket for any space trip. | 183| 2, 7705| 1, 35541|, 10020|
One-Sample Test|
| Test out Value sama dengan 3 |
| t| df| Sig. (2-tailed)| Mean Difference| 95% Confidence Interval of the Difference| | | | | | Lower| Upper|
The economic situation will impact my willingness to buy a ticketed for a space trip. | -2, 291| 182|, 023| -, 22951| -, 4272| -, 0318|
9) End result for exploration question several
Case Finalizing Summary|
| Cases|
| Valid| Missing| Total|
| N| Percent| N| Percent| N| Percent|
Are you willing to purchase $200, 500 for a space trip? 5. I i am willing to pay extra costs to organize myself for any space trip| 175| ninety five, 6%| 8| 4, 4%|
183| 100, 0%|
Are you willing to purchase $200, 500 for a space trip? * I am willing to pay extra costs to arrange myself for any space trip Crosstabulation| | I i am willing to pay extra costs to arrange myself for the space trip| Total| | yes| no| |
Are you willing to buy one hundred dollar, 000 to get a space trip? | no| Count| 100| 31| 131| | | % inside I am willing to pay extra costs to get ready myself for a space trip| 82, 0%| 58, 5%| 74, 9%| | yes| Count| 22| 22| 44|
| | % within just I am willing to pay extra costs to get ready myself for the space trip| 18, 0%| 41, 5%| 25, 1%| Total| Count| 122| 53| 175|
| % within I am willing to pay extra costs to prepare me personally for a space trip| 75, 0%| 100, 0%| 75, 0%|
Chi-Square Tests|
| Value| df| Asymp. Sig. (2-sided)| Exact Sej. (2-sided)| Precise Sig. (1-sided)| Pearson Chi-Square| 10, 820a| 1|, 001| | |
Continuity Correctionb| on the lookout for, 608| 1|, 002| | |
Likelihood Ratio| 10, 286| 1|, 001| | |
Fisher’s Exact Test| | | |, 002|, 001|
Linear-by-Linear Association| 10, 758| 1|, 001| | |
N of Valid Cases| 175| | | | |
a. 0 cellular material (, 0%) have expected count lower than 5. The minimum expected count is definitely 13, 33. b. Calculated only for a 2×2 table|
10) End result for study question almost eight
Group Statistics|
| What is your gender? | N| Mean| A sexually transmitted disease. Deviation| A sexually transmitted disease. Error Mean| What price do you think is a fair price to get a space trip? | Man| 80| 3, 7500| you, 99048|, 22254| | Woman| 74| several, 3378| one particular, 69832|, 19743|
Independent Examples Test| | Levene’s Test out for
Equality of Variances| t-test for Equal rights of Means| | F| Sig. | t| df| Sig. (2-tailed)| Mean Difference| Std. Problem Difference| 95% Confidence Span of the Difference| | | | | | | | | Lower| Upper|
What price do you think is a good price for the space trip? | Equal variances assumed|, 519|, 472| 1, 377| 152|, 171|, 41216|, 29934| -, 17923| 1, 00356| | Equivalent variances certainly not assumed| | | you, 385| 151, 039|, 168|, 41216|, 29749| -, 17562|, 99995|
11) Output pertaining to research query 9
| N| Mean| Std. Deviation| Std. Error| 95% Assurance Interval for Mean| Minimum| Maximum| | | | | | Lower Bound| Upper Bound| | |
1, 00| 81| 3, 3580| 2, 15817|, 23980| two, 8808| a few, 8352| you, 00| being unfaithful, 00| two, 00| 41| 3, 7805| 1, 57341|, 24572| 3, 2839| four, 2771| one particular, 00| 9, 00| a few, 00| 32| 3, 7500| 1, 29515|, 22895| 3, 2830| four, 2170| 1, 00| five, 00| Total| 154| three or more, 5519| you, 86134|, 14999| 3, 2556| 3, 8483| 1, 00| 9, 00|
Test of Homogeneity of Variances|
What price do you think is a reasonable price for any space trip? | Levene Statistic| df1| df2| Sig. |
3, 637| 2| 151|, 029|
ANOVA|
What price do you think can be described as fair price for a space trip? | | Total of Squares| df| Imply Square| F| Sig. |
Between Groups| 6, 443| 2| 3, 221|, 929|, 397|
Within just Groups| 523, 642| 151| 3, 468| | |
Total| 530, 084| 153| | | |
12) End result for exploration question 12
One-Sample Statistics|
| N| Mean| An std. Deviation| An std. Error Mean|
Fatal accidents could impact my personal willingness to acquire a ticket for a space
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