standard deviation and the target market

For a business to invest in the target market is a big decision. There are 4 many critical factors and risks involved in this regard. Businesses conduct surveys of a particular marketplace. For a business to decide what is the customer’s satisfaction level in a particular marketplace, the volatility of customers’ need and want, and preferences. The Standard deviation calculator can be a great source to dig into the data provided by calculator-online.net. The sd calculator provides sufficient ground to decide if it is possible to invest in the target market, the greater the values of the standard deviation.

The greater would be the volatility of the target market, and the variance would be Deerfield from the mean values. For the analysis of the whole target market, we are going to collect a sample of data and analyze it with the sample standard deviation calculator. Calculate the standard deviation mean and meander by the mean and standard deviation calculator. There can be separate online tools for this calculation, or you can even analyze the whole target market with the population standard deviation calculator.

Consider a sample of price hikes in the target market, as Business development managers, and how the Standard deviation calculator is going to help us to decide where to invest and where to adopt different strategies.

Target Market:

Considering target market 1, we have concluded a process variation in a year of product A. For each month there is an average price has been given:

Now when we have inserted the various prices from January to December in the Standard deviation calculator:

Frequency Table:

The result of the statical data:

The total sum of values is 12, the sum of all the values is 61200, the mean is “5100”, and the variance is 7272.73. The coefficient of the variance is 0.0167, and the standard error of the mean values is 24.61. All of this data is providing us with information regarding keeping the prices of item A in the following parameters:                     

Count (n)                                      12

Sum (Σx)                                       61200

Mean (x̄)                                       5100

Variance (s²)                              7272.73

Coefficient Of Variance              0.0167

Standard Error of Mean (SE)                24.618302080786

Standard deviation =85.2803

The result extracted from the following data:

As a manager, you can extract the following result from the extracted data:

• The price should be around $5100, as it is the mean value. The other thing which is essential to note, we can vary the price from around 80 to 90 dollars around the 5100 by the result extracted by the Standard deviation calculator.
• The other thing which is quite noticeable is that the process is quite stale in the market. It also indicates the market is mature enough and consumers are quite stable in their nature.
• We are investing in the market, where inflation is stable and the market is responding around the mean values.
• If the prices are varying too much around the mean values, it would be concluded we are choosing quite an unstable market to invest in.

The Standard deviation calculator provides us with quite remarkable data regarding a specific marketplace. We can conclude, how the target market is going to react and what are the pros and cons of investing in a specific marketplace.

Conclusion:

The Standard deviation is one of the main statistical tools to identify the nature of the target market. We can predict how the target market is going to react in the future and what are the risks involved in investing in a specific market. The Standard deviation calculator provides us with sufficient data and a basis to make decisions and marginalize the risks involved in the investment and decision-making.