A Multi-Level Factor Factorial Design for Solving Uncertainty Criteria in Establishing a Retail Business in Nigeria
DOI:
https://doi.org/10.59890/ijefbs.v3i1.239Keywords:
Retail, Business, Location, Advertisement, Factorial DesignAbstract
In this paper, a multi-level factorial design is proposed to solve the uncertainty problem in establishing a retail business in Nigeria. A multiple-level linear model was set-up, and the model parameters and error component were estimated. Three independent factors; Location (L), Advertising campaign (A) and Day of work (D) were considered as the criteria each at different levels with a dependent factor (sales). A 3×4×6 design structure for factorial combinations of factor L, factor A, and factor D using a randomized complete block design with two replications was developed. A direct interview approach of probability sampling technique was used as an instrument for data collection. The result revealed that the independent variables (Location, Advertising campaign and Day of work) have high positive impact on the dependent variable (sales) for every retail business.
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