Application of descriptive statistics assignment

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Reference no: EM132923149 , Length: word count:1000

BAC21 Quantitative Methods

Assignment - Application of Descriptive Statistics

Assessment instructions: Descriptive statistics are used to describe\summarize the characteristics of a sample or data set; this type of statistics can help decision makers understand the collective properties of the elements of a data sample. Managers use descriptive statistics to look at trends, understand relationships between numbers, and make sound business decisions.

This assignment focuses on this type of statistics. Students are given a case (next page) and a data set (data for each student on excel sheet available on Moodle) to analyse and make a managerial report.

This assessment requires students to focus on the key learnings from the lectures on descriptive statistics and how they apply to real-life situations.

Case problem: Heavenly Chocolates Website Transactions Heavenly Chocolate manufacturers and sells quality chocolate products at its plant and retail stores located in New York. Two years ago, the company developed a website and began selling its products over the Internet. Website sales have exceeded the company's expectations, and management is now considering strategies to increase sales even further. To learn more about the website customers, a sample of 20 Heavenly Chocolate transactions was selected from the previous month's sales. Data shows the day of the week each transaction was made, the type of browser the customer used, the time spent on the website, the number of website pages viewed, and the amount spent by each customer.

Managerial Report:

Use the methods of descriptive statistics, students need to include the following in their report:

1. Graphical and numerical summaries for the length of time the shopper spends on the website, the number of pages viewed, and the mean amount spent per transaction. Discuss what you learn about Heavenly Chocolate's online shoppers from these numerical summaries.

2. Develop a scatter diagram and compute the sample correlation coefficient to explore the relationship between the number of website pages viewed and the amount spent and discuss.

Attachment:- Descriptive Statistics.rar

Reference no: EM132923149

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