WEEK 2: Business Research Problem / 1

Week 2: Business Research Problem

Brandon Gurule, Greg Pielaat,Stephen Rivera, Shilo McGrew

QNT/561

April4, 2015

Mohammad Sharifzadeh

WEEK 2: Business Research Problem / 1

Introduction

In this paper we will be discussing a company and resolving an internal issueby analyzing the company information and forming a hypothesis. After we form a hypothesis, by using data from the company we can test to see if the hypotheses is in fact true or false. When a company is able to do this, it is beneficial because companies are able to find problems within their company, and find appropriate methods to fix the issues. We will be discussing issues within a company revolving around dependent and independent variables within the company. The company we are helping is Waste R Us.

Waste R Us provides waste services for commercial property clients. In doing business Waste R Us entertains clients by treating them to sporting and music events held at the Staples Center in Los Angeles. Board Members have expressed concerns over the high cost of entertaining clients. Waste R Us will have to examine the money spent on entertaining clients, and assess if the account is still profitable based on the ratio of generated revenue vs entertainment and managing of the account.

Waste R Us will investigate the Board Members concerns. The first step will be finding out the two variables in the conflict. The dependent variable in this situation, is the service revenue generated from the customer. The independent variable is the cost of entertaining clients, and whether the entertainment outweighs the revenue. The hypothesis is that the customers that are entertained will remain loyal customers for a longer period of time.

Conclusion

In conclusion it is vital for a company to be able to create a realistic hypothesis with the goal of resolving a problem. By forming a realistic hypothesis, a business can save time by focusing on information that will be beneficial to the company. When a properly formulate hypothesis is always essential for drawing proper and reasonable conclusions. This helps a company save future time, money, energy and develop lasting customers.

References

McClave, J. T., Benson, G. P., & Cincich, T. (2001).Statistics for Business and Economics(11th ed.). Boston, MA: Pearson Education.