Reference no: EM132275031 , Length: word count:3000
Statistics for Decision Making Assignment -
LEARNING OUTCOMES - On successful completion of this assignment, students will be able to:
1. Explain the importance of statistics as an aid to decision-making in any organisation.
2. Identify managerial statistical problems.
3. Apply appropriate statistical techniques for solving a particular problem within any organisation.
4. Interpret appropriate output from statistical computer packages such as SPSS/Minitab/Excel.
5. Produce a managerial report.
6. Demonstrate proficiency in analysis, interpretation and application of managerial statistics.
Assessment - Case study analysis report
Case Study: Product Development @Nelson Perera 2016
A market leading Australian manufacturer of sanitary products is keen to develop new products so that the company can expand into Asian markets. Its Research and Development department has prepared a proposal to work on a new product line of razor blades. Assume you work as a data analyst for this company and you have been asked to investigate the market for shaving products. You have been asked to study the characteristics of currently available razor blades so the company will be in a better position to price its proposed new product. Collected data for 90 products on the market. Data for the questions are attached.
Column 1: GENDER 1 for Female product and 2 for Male product.
Column 2: PACK Number of blades in a packet, 1 for 5-pack and 2 for 10-pack.
Column 3: PRICE Price of the product in Australian dollars for a packet.
Column 4: CART Number of cartridge blades, 1 for twin, 2 for 3-blade and 3 for 5-blade.
Column 5: MADE 1 made in France, 2 made in USA, 3 other countries.
Assignment Tasks -
1. Visually present data for the prices based on gender of the product. Calculate descriptive summary measures for the prices based on gender of the product. Comments on the location, shape and variability of those distributions.
2. Visually present data for the prices based on number of blades of the product. Calculate descriptive summary measures for the prices based on number of blades of the product. Comments on the location, shape and variability of those distributions.
3. Visually present data for the prices based on country of origin of the product. Calculate descriptive summary measures for the prices based on country of origin of the product. Comments on the location, shape and variability of those distributions.
4. Using appropriate inferential statistical techniques, determine if there is evidence that the mean price of male product is higher than mean price of female product.
5. Using appropriate inferential statistical techniques determine if there is evidence of a difference in the mean price of twin, 3-blade and 5-blade cartridges.
6. Using appropriate inferential statistics techniques, determine whether there is evidence of a difference in the mean prices of product from France is lower than the mean price of product from USA.
7. Using appropriate inferential statistics techniques, determine whether there is evidence of a difference in the mean prices for different countries.
Note - The answer to your assignment should be in the form of a business report. Use 5% level of significance in your analyses for all questions of hypothesis testing. EXCEL outputs should be incorporated into your report. The report will provide you with an opportunity to demonstrate proficiency in integrating Excel with a word processor, Word. Note that you can easily import Excel output to Word.
Length: 3000 words and calculations.
Attachment:- Assignment Files.rar