Civilizations and Chocolate: Analyzing Chocolate Consumption

1
Civilizations and Chocolate Analyzing Chocolate
Consumption

• The Fantastic Four

2
Chocolate Consumption by Nation
3
Objectives

• What are the variables that determine the
  consumption of chocolate?
• International Cocoa Organization
• Price
• Income
• Population
• Taste

4
The Variables

• Grinding relates to the import of cocoa beans
  to be fermented, dried, and grinded for the
  production of chocolate confections
• GDP (Gross Domestic Product) - the total market
  value of all the goods and services produced
  within the borders of a nation during a specified
  period.
• Population

5

Data Table
6
Multiple Regression Analysis
7
Analysis of Multiple Regression

• Regression Equation
• y a b1x1 b2x2 b3x3
• y 45,802.6802 0.3376 x1 9.53E-8 x2 0.01
  x3
• b1 Grindings
• b2 GDP
• b3 Total Population

8
Global Test

• H0 ß1 ß2 ß3 0
• H1 at least one ßx ? 0
• P-Value 2.24 E -4
• P-Value is tiny so H0 is rejected

9
Individual Tests
Assume a 0.05
Grindings H0 ß3 0 H1 ß3 ? 0 ? 0.3836 ? gt
a Fail to reject H0, x3 is not significant

• Grindings
• H0 ß1 0
• H1 ß1 ? 0
• ? 0.4247
• ? gt a
• Fail to reject H0, x1 is not significant

• GDP
• H0 ß2 0
• H1 ß2 ? 0
• ? 0.0184
• ? lt a
• Reject H0, x2 is significant

10
New Regression Analysis
11
New Regression Equation

• y a bx
• y 105,834.8538 1.3064 E -7 x
• b - GDP

12
GDP Chart
13
Conclusion

• GDP is a high factor in chocolate consumption in
  nations worldwide
• CHOCOLATE IS DELICIOUS!!!!
• EAT SOME OF OUR DELICIOUS CHOCOLATE
• ITS FREEEEEEEEEEEE!!!!!!!!!!!!!!!!!!!!!