Questions
Assignment instructions
Question 1
Sonic Selection would like to put firm performance metrics in place for its sales managers, based off customer conversion rates, as they would like to reward the sales managers based on the rate at which users that browse the site end up purchasing tracks. The need for changing the incentive scheme has been driven by information recently published by the eCommerce Association around industry conversion rates.
The eCommerce Association collects and analyses data from a broad range of companies involved with trading of goods or offering services over any electronic network, predominantly the internet. This incorporates all online stores, including digital music stores like Sonic Selection. The eCommerce Association has conducted a study on 312 e-commerce companies, which indicates that the expected conversion rate is 8%, with a standard deviation of 1.1%. This benchmark is far higher than Sonic Selection’s internal benchmark of a 5% conversion rate.
1.1 Given the recently published benchmarking information, Sonic Selection is well below the benchmark in terms of e-commerce conversion rates. What other factors, besides industry benchmarks, need to be considered when it comes to setting performance metrics? Name and briefly discuss at least 3 other factors. Your answer may not exceed the word limit.
(Max. 150 words)
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1.2 Based on the information provided, and your answer to question 1.1, suggest a suitable conversion rate for Sonic Selection and justify your choice. Should it be higher or lower than the industry average? Your answer may not exceed the word limit.
(Max. 100 words)
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Question 2
Sonic Selection would like to conduct A/B testing to improve the average revenue per site visitor. In order to reach their target, which is an average increase of $200.00 in revenue per site visitor, a new landing page is designed and then compared to the original website landing page. As the data analyst at Sonic Selection, you have been tasked with conducting an analysis as to whether the new website design achieves an increase in revenue per site visitor.
A/B testing re-cap:
If you would like to revise what A/B testing entails, follow this link to a brief video explaining what A/B testing is, or revisit the interactive video in Unit 1.
2.1 State your null and alternative hypotheses for the A/B testing research project, in the spaces provided.
• Null Hypothesis (H0)
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• Alternative hypothesis (HA)
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2.2 Figure 1 and Figure 2 display the distributions for the for the old website and the new website, respectively. The distribution of the data can be assessed by plotting the observations using histograms. The data is grouped into categories, or bins, to smooth the data and display the number of cases in each bin. When generating histograms in Excel, you can specify the bins. If the bins are not provided, Excel generates the bins automatically.
Referring to the histograms of the old and new website, comment on the distribution of the two samples (old website and new website). State whether the samples are equally distributed, or if the samples are positively or negatively skewed. Also include a brief explanation of how the graphs differ from one another, and what this may imply. Pay attention to the scales of the graphs. Your answer may not exceed the word limit.
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