The economic impact of the 2011 Formula 1 ... - Tourism Victoria

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Surveys designed and administered by Ernst & Young:
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An internet survey of competing teams from support events at the Grand Prix.
An internet survey of international media (supplementing the responses from the
Newspoll fieldwork).
An email survey of organisations, including FIA, FOM, V8SCA and CAMS (sent by
AGPC).
Face-to-face and email surveys of the Formula 1 and V8 Supercars teams.
An internet survey, email survey and telephone interviews of corporate buyers.
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Other data:
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Number and origin of CAMS officials at the Grand Prix (provided by CAMS).
3.1.4 The extent of representative samples
In determining the sample sizes from which market research is to be obtained for economic
impact assessments of major events, Ernst & Young utilises the industry accepted range of
95% confidence level and 5% confidence interval, and 90% confidence level and 10%
confidence interval 7 . At a minimum, this range is sought for the first level of questions
asked to a particular category of visitor or attendee (i.e. origin question for spectators),
with the aim to then achieve it for the second level of questions (i.e. whether the interstate
or overseas spectator is a specific or extended stay visitor to the State). It should be noted
that circumstances can occur beyond the control of Ernst & Young that result in this range
not being achieved. For example an event where there is a very small number of
international visitors, necessitating a proportionally high number of responses from such
visitors.
It should be noted that the questionnaire utilised to collect market research from attendees
at an event often has a number of filtered questions within it that can result in a lessening
of the confidence levels and intervals to levels below the above-mentioned range, especially
in relation to certain sub-groups of visitor (i.e. corporate patrons and extended stay
spectators in general).
For the reasons outlined above, and to achieve representative samples where possible,
Ernst & Young has merged the responses of interstate specific and extended stay visitors
and international specific and extended stay visitors. Further, we have aggregated all
spectator data into one category (instead of separating corporate patrons and other
ticketed spectators). Not taking this action would have resulted in non representative
samples of extended stay interstate and international spectators to the Grand Prix, and non
representative samples of corporate patrons. The process of ‘aggregation’ limits the impact
of outliers in small samples significantly skewing final outcomes for average days stay and
average daily expenditure, that when extrapolated over the wider populations, can result in
materially different outcomes.
For information purposes, based on an industry accepted range of 95% confidence level and
5% confidence interval, and 90% confidence level and 10% confidence interval 8 , the success
of the surveying in falling within or above this range for each type of attendee is set out in
Table 8 over the page:
7
Partnerships Victoria, Public Sector Comparative: Appendix E: Statistical probability techniques and sample
distributions – “It is not possible to obtain an estimate of probability that is 100% correct. An appropriate trade-off
between mathematical accuracy and meaningful estimate therefore needs to be made. Generally, a confidence
interval of 90% or 95% is considered statistically robust.”
8
Ibid.
Tourism Victoria
The economic impact of the 2011 Formula 1 Australian Grand Prix Ernst & Young ÷ 11