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An analysis on the prices of French wines and on a business plan of creating a wine app
KTH, School of Engineering Sciences (SCI), Mathematics (Dept.), Mathematical Statistics.
2016 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesisAlternative title
En analys på priserna av franska viner och en affärsplan för att skapa ett vin app (Swedish)
Abstract [en]

The purpose of this thesis is to evaluate the influences behind the pricing of French wines by the use of Applied Mathematics and statistical analysis. A regression analysis, based on a literature review of a mathematical compendium, was executed to estimate the coefficients of 21 characteristics of French wines. To perform such analysis, 490 bottles of wines were picked independently from the most famous wine guide of France, the Guide Hachette des Vins. The data was collected in order to make a representation of the French wine production distribution. The final regression equation was reduced to 11 variables and acquired a low goodness of fit. The result may be adequate but not capable of an accurate prediction of the average price of a bottle of wine. The result can be used as an example on the presence of influences behind the pricing of a wine.

By the use of regression analysis, a second research was shaped: the impact of a regression equation in the creation of a mobile wine application. With knowledge in Industrial Engineering and a literature study in the fields of e-business, SWOT-analysis, business planning and innovation strategy; a covering analysis was put together in hope to achieve a profitable business strategy. Enhancing a search engine in a wine app by the use of regression gives an edge against existing competitors. The rewards of a wine app are greater than the risks. Henceforth, the creation of a wine app is recommended. 

Abstract [sv]

Syftet med denna tes är att utvärdera påverkan bakom prissättningen av franska viner genom användning av Tillämpad Matematik och statistisk analys. Baserad på en litteraturgenomgång av en matematisk kompendium, en regressionsanalys utfördes för att uppskatta koefficienterna av 21 egenskaper av franska viner. För att utföra en sådan analys, 490 flaskor vin plockades ifrån Frankrikes mest kända vin guide, Le Guide Hachette des Vins. Datainsamlingen gjordes i syfte att göra en sann representation av den franska vinproduktionen. Den slutliga regressionsekvationen reducerades till 11 variabler och förvärvade en låg goodness of fit. Resultatet kan ses som adekvat men kan inte ges som en korrekt prognos av det genomsnittliga priset på en flaska vin. Resultat kan användas som ett exempel på influenserna bakom prissättningen av ett vin.

Med regressionanalysen skapades en ny forskningsområde: effekten av en regressionsekvation i skapandet av en mobil vin app. Med kunskap i Industriell Ekonomi tillsammans med en litteraturstudie inom e-handel, SWOT-analys, affärsplanering och innovationsstrategi en omgripande analys sattes samman i hopp om att uppnå en lönsam affärsstrategi. Att förbättra en sökmotor i en vin app med hjälp av regressionsanalys ger en kant mot befintliga konkurrenter. Att skapa en sådan vin app ger större belöning än risk och därför rekommenderas.

Place, publisher, year, edition, pages
2016.
Series
TRITA-MAT-K, 2016:25
National Category
Mathematics
Identifiers
URN: urn:nbn:se:kth:diva-188988OAI: oai:DiVA.org:kth-188988DiVA: diva2:942570
Subject / course
Applied Mathematical Analysis
Educational program
Master of Science in Engineering - Industrial Engineering and Management
Supervisors
Examiners
Available from: 2016-06-25 Created: 2016-06-25 Last updated: 2016-06-25Bibliographically approved

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