Statistics for Sales
This refelction is based on my group assignment outcome for Business Statistics during my 3rd semester with Taylor’s University. The title of the assignment was Excel Data Analysis on Graphs and Tables and the objective is where it requires us to ultilize Microsoft Excel to generate accurate calculations based on the collected data for an analysis. The scenario place our team of 5 members in the role of a marketing reseach firm. Where the client requires us to provide an analysis of the customers’ preference in the type of café situated in Taylor’s campus that he could operate in.
Part A of the task requires my team and I to collect the data of 40 students in the campus. We have categorized three types of café that could be found in the campus which are café in the Food Restaurant, Pastry House and Coffee Shop categories. As a results we have constructed it into a speadsheet as below:
Part B is where the technical calculation takes place in order to generate an analysis to better guide our client in his choice of operating a shop in the campus. A table is generated to show the number of times the student last visited to their preffered type of café. From the graph, we can see that the highest number of visits are in the food restaurant category.
The following pie chart demonstrates the duration of the total time spent on the last visit by percentage from the corresponding three types of café. This clearly shows the client, in a percentage form, that which of these three types of café that the sample of 40 students would spend most of their time. Me and my team generated the statistics and found that students from the sample would spend most of their time in the pastry house category. The pastry house category acquired the highest total of 22.5 hours from students on their last visits.
For one of the central tendency and one dispesion value, my team and I had calculated an arithmetic mean of 1.5625 and a standard deviation of 0.7840 respectively. This tells the client that with a mean of 1.5625, students from the sample typically spend an average of more than one and a half hour in their last visited café. And the standard deviation tells us that it has a scatter of 0.7840 standard deviations from both the left and the right side of he mean.
A histogram is also generated to show the relationship between the number of customers over the duration spent in hours. From the histogram, we can conclude that most of the students from the sample would spend up to 2.25 hours in their preferred café in the campus. Whereas we can see that after 2.25 hours, there is just 7 students out of 40 that would spend their time in the café to a maximum of 3.25 hours. The number of classes and the number of class interval are calculated below:
For one part of the assignment, a cumulative frequency polygon is required to show the relationship between a total number of 40 students as the number of customers of the café over their monthly incomes. The range of their income collected from the survey is in between the lowest of RM300 to the highest of RM1800 among the students of the sample. This part requires us to calculate the interquartile range and to find the median for monthly incomes. The calculation is shown as below:
A box plot is also generated to show the client at a glance about the monthly incomes from the sample of 40 students. The observation from the box plot generated shows that the distribution is skewed to the right. This graph is also aiming to show the range of the 40 students’ monthly incomes, ranged from a minimum of RM300 to a maximum of RM1600. From the box plot, we can conclude that there is no outlier located at RM100 and RM 1700.
The last part of the assignment is aimed to create a scatter plot to show the relationship between the duration spent in café on the last visit over the monthly income from the sample. After generating the graph, we can see that the linear line is gradually downward sloping from the chart. An information to the client would be that students with the income range starting from RM300 to RM1000 would spend at most about 3 hours of their time in the café. Respectively, students with an income range of RM1000 up to the maximum of RM1600 would spend less time around those three types of café situated in the campus.
The conclusion after completing this assignment provides my team and I the confidence to assist the client that would potentially open up a shop in the campus. According to the data, we can suggest the client to start a business in the pastry house category as there is a keen interest found in the sample of 40 students from the campus. With a total number of 13 students out of 40, these students would also spend most of their time in the café of this category. Another supporting factor is where competition is low in the pastry house category as there are not much café in this category in the campus. This assignment grants me a better awareness about the solutions that Microsoft Excel brings. It has provided me and my groupmates to generate quick and reliable results to solve all criterion from our group assignment of business statistics. I hope that the depth knowledge obtained through this software could be applied to a board range of statistical calculations in my near future.