University of Phoenix
Survey Analysis Paper
Problem Statement: Identifying potential customers for insurance services. The survey put together in Appendix One (See Survey page 6) will assist in identifying the potential customers for insurance services by analyzing the several factors such as the customer household characteristics, demographics, lifestyle, current levels of satisfaction and their interest in pursuing the new products. It is commonly thought that the insurance companies should upgrade their sales representatives through modern training practices to enhance the quality and reliability of the services. The survey questionnaire is designed by involving a combination of variable as the given business problem is statistical in nature. The questions selected are intended to determine the most common customer age, status to determine when and what their inclinations are towards purchasing insurance. In addition, the statistical analysis can be conducted by gathering the data provided by the customer responses to these questions.
Level of measurement
Categorical variables Nominal variable including age, gender, educational status and lifestyle of the respondents. Ordinal variables including level of interest of buying new products and customer satisfaction levels. Quantitative variables Interval variable including the annual income of the respondent. Ratio variable including the number of policies or insurance products possessed by an individual. Sample size- 100.
Nominal50% of the respondents have a median age group of 41, 60% respondents were government employees, 65% of the respondents had 3 dependants. OrdinalRespondents are moderately satisfied with the existing products & have fair interest in the new products. As per the respondents, highest preference is given to life insurance followed by the health insurance. At the third rank is the property insurance...