Steps in Making a Project

Introduction

Statistical tools are essential for analyzing data related to economic activities such as production, consumption, distribution, and trade. This chapter will guide you through the method of developing a project, which demonstrates how these statistical tools can be practically applied. Conducting a survey and preparing a project report helps in analyzing relevant information and suggesting improvements, whether it's for a product, a service, or a system.

Steps Towards Making a Project

Developing a statistical project involves a series of systematic steps, from identifying the problem to presenting the final conclusions.

1. Identifying a Problem or an Area of Study

The first step is to be clear about what you want to study. The objective of your study will guide the entire process of data collection and analysis. Your area of interest could be the production or sale of a product (like cars or soaps), a civic issue (like water or electricity problems in a specific area), or a social issue (like consumer awareness about their rights).

2. Choice of Target Group

Identifying the target group is crucial for designing an effective study and framing appropriate questions. The target group consists of the individuals on whom you will focus your attention. For example, if your project is about luxury cars, your target group will be middle and higher-income groups. If it's about a consumer product like soap, your target group will be all rural and urban consumers.

3. Collection of Data

The objective of your survey will determine the method of data collection. You may use primary data, secondary data, or a combination of both.

• Primary Data: This is first-hand data collected through methods like personal interviews, mailing questionnaires, or phone/email surveys. If sampling is used, care must be taken to choose a suitable sampling method.
• Secondary Data: This is data that has already been collected by someone else. It is usually used when there is a shortage of time, money, or manpower, and the information is readily available from sources like government reports, research papers, or websites.

4. Organisation and Presentation of Data

After collecting the data, it needs to be processed. This involves organising the raw data and presenting it in a clear and understandable format using tools like tabulation and suitable diagrams (e.g., bar diagrams, pie diagrams, histograms).

5. Analysis and Interpretation

This is the core of the project where statistical tools are applied to the organised data.

• Measures of Central Tendency (like Mean, Median, Mode) are used to calculate the average or typical value.
• Measures of Dispersion (like Standard Deviation, Range) are used to understand the variability or spread of the data.
• Correlation is used to analyze the relationship, if any, between different variables.

6. Conclusion

The final step is to draw meaningful conclusions by analyzing and interpreting the results. Based on the findings, you should provide suggestions or predict future prospects related to the problem under study.

7. Bibliography

In this section, you must mention the details of all the secondary sources (magazines, newspapers, research reports, websites, etc.) that you used for developing your project.

A Sample Project: Studying the Toothpaste Market

Project Objective

To advise a young entrepreneur, X, who wants to set up a factory to produce toothpaste. This involves studying consumer tastes, monthly expenditure on toothpaste, and other relevant market facts.

Methodology

Primary data will be collected using a questionnaire. The questionnaire is designed to gather information on the following key areas:

• The average monthly expenditure on toothpaste.
• The brands of toothpaste currently in demand.
• The attitude of customers towards these brands.
• Customers' preferences regarding ingredients in toothpaste.
• The major media influences on consumers' demand.
• The relationship between income and the above factors.

Example of a Questionnaire

1. Name: ............................................................

2. Sex: ............................................................

3. Ages of family members (in years): ............................................................

4. Total Number of family members: .................

5. Monthly family income: ....................................

6. Location of residence: Urban / Rural

7. Major occupation of the main bread-winner:

• (i) Service
• (ii) Professional
• (iii) Manufacturer
• (iv) Trader
• (v) Any other (please specify)

8. Does your family use toothpaste to clean your teeth? Yes / No

9. If Yes, what should be the essential qualities of a good toothpaste? (You can tick more than one option)

• (i) Plain
• (ii) Gel
• (iii) Antiseptic
• (iv) Flavoured
• (v) Carries Protection
• (vi) Fluoride
• (vii) Other .................

10. If Yes, which brand of toothpaste do you use? ....................................

11. How many 100 gram packs of this toothpaste do you use per month? .................

12. Are you satisfied with this toothpaste? Yes / No

13. Are you prepared to try out a new toothpaste? Yes / No

14. If Yes, what are the features you would like in the new toothpaste? (You can tick more than one option)

• (i) Plain
• (ii) Gel
• (iii) Antiseptic
• (iv) Flavoured
• (v) Carries Protection
• (vi) Fluoride
• (vii) Other .................

15. What are the main sources of your information about toothpaste?

• (i) Cinema
• (ii) Exhibitions
• (iii) Internet
• (iv) Magazines
• (v) Newspapers
• (vi) Radio
• (vii) Sales Representatives
• (viii) Television
• (ix) Other .................

Simplified Project Report: Toothpaste Market Survey

Data Analysis and Interpretation

1. Total Sample Size: 100 households

2. Location: Urban 67%, Rural 33%

Observation: The majority of users belonged to urban areas.

(i) Age Distribution

Observation: The majority of the persons surveyed belonged to the age group of 20–50 years.

(ii) Family Size

Observation: The majority of the families surveyed have 3–6 members.

(iii) Monthly Family Income Status

Observation: The majority of the families surveyed have a monthly income between ₹10,000 to ₹30,000.

The mean income was ₹18,000 and the standard deviation was ₹9,000.

(iv) Monthly Family Expenditure on Toothpaste

The mean expenditure on toothpaste per household was ₹104 per month and the standard deviation was ₹35.60.

(v) Major Occupational Status

Observation: The majority of the families surveyed were either service class or traders.

(vi) Preferred Brand of Toothpaste

Observation: Pepsodent, Colgate, and Close-up were the most preferred brands.

(vii) Basis of Selection

Observation: The majority of people selected toothpaste on the basis of standardised markings, quality, price, and company’s brand name.

(viii) Taste and Preferences (Satisfaction Level)

Observation: Amongst the most used toothpastes, the percentage of dissatisfaction was relatively low.

(ix) Ingredients Preference

Observation: The majority of people preferred gel and antiseptic-based toothpastes over others.

(x) Media Influence

Observation: The majority of people came to know about the product either through television or through newspapers.

(xi) Concluding Note of the Project Report

The survey indicates that the target market is predominantly urban, with families having 3-6 members and a monthly income between ₹10,000 and ₹30,000. Key occupations are service and trading. The average monthly expenditure on toothpaste is around ₹104. The most popular brands are Pepsodent, Colgate, and Close-up. Consumers prioritize standardized markings, quality, and brand name when making a purchase. They prefer gel and antiseptic-based toothpastes. Television and newspapers are the most influential media for product awareness.

Multiple Choice Questions

Short Answer Type Questions

Long Answer Type Questions