Calculate descriptive statistics for the prices

Assignment Help Macroeconomics
Reference no: EM131444598 , Length: word count:3000

Assessment Authentic tasks - Case study analysis report

The business report is based on the following case study.

An Australian manufacturing company which is a market leader in the fashion sector in the Australasian market with operating headquarters in Sydney is keen to develop new product lines, so that the company can expand its market share in the Australian market. The Research and Development (R&D) department of the company has prepared a proposal to work on a new clothing line.

Assume you work as an Analyst for this company and you have been asked to study the Australian fashion market. You have been requested to study the characteristics of currently available clothing products such that the company will be in a better position to price its proposed new line. You have collected data for 120 products on the market. The data is on an excel file named "FASHION". In this case study, data is given for three competing popular clothing brands. The data collected are recorded in the file Fashion.xls as follows:

Price: Unit price of the product

Brand: 1 for Calvin Klein, 2 for Zara, 3 Tommy Hilfiger and 4 for Ralph Lauren

Style: 1 for Business, 2 for Sport Clothes and 3 for Casual

Gender: Target: 1 for woman; 2 for man

Assignment Tasks:

1. Visually present data for the unit price of the product from different brands. Calculate descriptive statistics for the prices of different brands. Comment on the location, shape and variability of those distributions.

2. Visually present data for the unit price of the product for different styles. Calculate descriptive statistics for the unit prices of the three styles among the brands. Comment on the location, shape and variability of those distributions.

3. Visually present data for the unit prices of Zara's products for the three different styles. Calculate descriptive statistics for the unit prices of Zara's products for the three different styles. Comments on the location, shape and variability of those distributions.

4. A common belief is that there is a difference in product prices between women's and men's clothing lines. How do you test that there is a significant difference in average prices across these two gender targets? Use appropriate inferential statistical techniques.

5. Using the data collected, how do you test the claim that there is no significant difference in average product prices of the different brands? What do you find from your analysis? Use appropriate inferential statistical techniques.

6. It is commonly believed that there is a difference in product prices between Business, Sport and Casual clothes, due to differences in fabrics, manufacturing techniques and targeted customers. How do you test that there is a significant difference in average prices across the three styles? Use appropriate inferential statistical techniques.

7. Zara claims to keep similar prices for business, sport and casual clothes. How do you test whether there is significant difference between average prices of ZARA's clothes for different styles? Use appropriate inferential statistical techniques.

Attachment:- Assignment File.zip

Reference no: EM131444598

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len1444598

3/30/2017 2:24:31 AM

Australian student, I am going to provide you the detail information about my assignment of ECON 940. It’s an individual assignment and of 3000 words. Questions are on student outline and more information about assignment is separately attached. It is strongly recommended to have the similarity percentage of 10%or less. At least 5 references are required and should be of Harvard Style. Please strongly follow the marking guidelines and assignment information as our marking is based on the attached file. Last time I got a low mark as I failed to meet the guidelines. Please be aware of due date.

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