Statistical Analysis Report for Illustrious Stores - 1100 Words

Statistical Analysis Report for Illustrious Stores (Case Study Sample) Content: Statistical Analysis Report for Illustrious Stores Ghanem Aldawsari Lecturer: Due Date: 1 Sep 2014Table of Contents TOC \o "1-3" \h \z \u  HYPERLINK \l "_Toc397311636"
Introduction  PAGEREF _Toc397311636 \h
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1.0 Variables  PAGEREF _Toc397311637 \h
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2.0 Description of the Variables  PAGEREF _Toc397311638 \h
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1) The Net Sales  PAGEREF _Toc397311639 \h
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2) Card type  PAGEREF _Toc397311640 \h
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3) Customer gender and Age  PAGEREF _Toc397311641 \h
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4) Customer type and Net Sales  PAGEREF _Toc397311642 \h
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Conclusion  PAGEREF _Toc397311643 \h
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References  PAGEREF _Toc397311644 \h
12Introducti onThe aim of this report is to statisticaly analyze the data collected in a case study on Illustrious Stores. Various descriptive statistics methods will be used in the process. Additionally, appropriate summary explanations to the various findings as well as pictorial presentations will also be given at each stage. Through the report, the researcher and the company aims at evaluating and learning the customer base shopping habits as well as the effect of the promotion involving discount coupons. Here, the net sales from both the promotional and the regular customers are evaluated with the aim of determining the opportunity cost of the coupon based promotion. In analysing the data, the researcher applied various descriptive statistics methods and tests in analysing the data collected from the companys Clothing division. Since the management aimed on evaluating the effect the promotional coupons, the purchasing behaviours the Net purchases (total purchases) charged on 100 customers are considered. Here, various descriptive statistics tools such as the mean, variance and kurtosis as well as visual presentations including bar charts, histograms, scatter plots and pie charts are used. Tables are also used in visualizing the data.1.0 VariablesThe variables identified in the analysis of the customer behaviour include:The customer types. The types of variables here included: Regular or a Promotional customer.The number of items purchased.The Net SalesThe Payment method used (depending on the card type used in paying for the goods). The types here included:VISAProprietary CardAMEX andMasterCardThe Gender of the customer - which had two variable types namely:MaleFemaleThe customers marital status which had two variable types namely:MarriedSingleThe customers age2.0 Description of the Variables1) The Net Sales
As indicated in the histogram above, the sales are faily distributed across all the price ranges. However, most customers purchased purchased goods worth below $100. The graph facilitates the interpretation of the customers responsiveness to purchasing. To the companys management, this helps them in deciding on the average prices they ought to set on their clothes relative to their prospective customers purchasing power. As additionally noted from the graph, the companys management should not price their clothes above $500 as most prospects purchasing ability is below $500. Statistical Analysis of the Net SalesDataMax. Net Sale ($)430.65Min. Net Sale ($)52.55Std. Deviation of Net sales73.149Sample Mean 142.18Sample size100An analysis of the statistical aspects of the Net sales data further shows the information tabulated alongside. From the standard deviation, it can be seen that there is a wide sispersion from the mean sales by the particular individual sales to the customers.2) Card type
Illustrious Stores has four authorized cards whose distribution of use among the sampled customers was as show n alongside.The data presented in the pie chart above shows that most (43%) of the companys customers pay for their purchases using VISA. Additionally, 35% of the customers use the proprietary card. On the other hand, AMEX and MasterCard are the least used cards respectively. The data would be essential in assisting the companys management in making decisions on which card provider to contract in the supply of the cards according to the customers preference in case a single or only a limited number of cards id to be authorized for use at the stores outlets.3) Customer gender and Age
From the above mixed plot for the distribution of the ages depending on whether married or not, it is evident that most of the companys customers are singles of below 30 years of age. However, there is a further substantial lot of married customers under 30 forming their core customers base. Thus, the company should stock more clothes for persons under 30. Hence, through the analysis in the comparativ e histogram chart, the management is likely to identify the dressing patterns among the customers based on age and marital status as well as the gender.
A plot of the customers ages is shown above. This indicates that the age distribution for the customers is negatively skewed. However, with the slope dipping gradually, there is an indication that both the older customers form an equally substanctial market force for Illustrious Stores Clothing division. Additionally, through an analysis of the mean age for the sampled customers, the average age is 39 years. Thus, the store should aim on stocking cloths for the customers aged below 39 years as to optimize its profits; other factors held constant.From the customers age, the following has also been established:Descriptive statistics for the ageDescriptive statisticsMean (years)39.15Standard Error0.638951Median37Mode53Standard Deviation14.3460Sample Variance194.876Kurtosis-1.18651Skewness-0.12379Range42 Minimum18Maximum60Sum3915Count100From the descriptive analysis of the companys customers, it can be concluded that stocking more clothes for persons aged 39.15years and below would be more profitable to the company.Additionally, with the high variance or 194.876, the age based disparities in Illustr...