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Simulation: Research Methods for Managerial Decisions
Introduction
Over a year has past since CoffeeTime entered into the coffee bar market in Mumbai, India. CoffeeTime's entrance has proven successful with the Mumbai, India outlet reporting profits. As the company moves forward with their business plans in the Indian market, management wants to make sure they are making informed decisions that will be in the best interested of the company such as predicting revenues, introducing new products and maximizing growth opportunities, profits and minimizing risk and losses. Therefore, CoffeeTime's management wants to apply different statistical procedures such as multiple regression, Z test for proportions, the chi-square test in order to make informed and appropriate business decisions to meet two key goals (1) strengthen presence in India vis-à-vis competition from Quick Brew (a local coffee bar), and (2) introduce a new snack to suit the taste of Indian customers identified in this......

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Approximate Word Count: 1771
Approximate Pages: 8 (250 words per double-spaced page)

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