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Project Overview:
In this project, the goal was to identify the top three Halloween candies using three key analyses: Correlation Analysis, Sentiment Analysis, and Multi-Criteria Decision Analysis (MCDA). The project focused on analyzing candy attributes (e.g., chocolate, sugar, caramel) to assess their influence on consumer preferences and determine the best Halloween treats.
This analysis evaluated the relationship between various candy attributes (like chocolate, peanut/almond, and fruity) and the popularity of each candy, represented by the winpercent (the percentage of consumer votes a candy received). Using the Pearson correlation coefficient, attributes with strong positive correlations (e.g., chocolate, peanut/almond) indicated higher consumer preference. Candies with higher correlations to popular attributes were ranked higher in this analysis.
In this analysis, the winpercent was used as a direct reflection of consumer sentiment, representing the percentage of voters who favored each candy. The candies were ranked purely based on their winpercent, making this analysis a measure of overall popularity. Candies with higher winpercent were viewed as the most positively received, showcasing the direct preferences of consumers.
The MCDA approach took a more comprehensive view, evaluating candies based on multiple factors, including sugar content, price, and key candy attributes (like chocolate and caramel). Each factor was weighted based on its importance, allowing for a balanced evaluation of each candy’s overall performance. This analysis considered not just consumer popularity but also practical factors like sugar and price, making it a more holistic assessment of each candy's value.
To combine the results of these three analyses, the Rank Sum Method was applied. Each candy was assigned a rank in each of the three analyses, and those ranks were summed to determine the final top three candies. The candies with the lowest total rank sum were selected as the winners, as they consistently performed well across all analyses.
The final top three candies based on the Rank Sum Method were:
This method ensured a fair and balanced evaluation, incorporating both consumer preferences and a detailed analysis of key candy attributes to select the best Halloween treats.