Descriptive statistics analysis

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Conduct the following descriptive statistics analysis using the data set in attached Excel. Answer the questions in the spreadsheet or a separate Microsoft Word document.

Insert a new column in the database that corresponds to AnnualSales. AnnualSales is the result of multiplying a restaurant’s SqFt by Sales/SqFt.

Calculate the following:

  • mean
  • standard deviation
  • skew
  • 5-number summary
  • interquartile range (IQR) for      each of the variables

Create a box-plot for the AnnualSales variable and answer the following questions:

  • Does it look symmetric?
  • Would you prefer the IQR      instead of the standard deviation to describe this variable’s dispersion?      Why or why not?

Create a histogram for the Sales/SqFt variable and answer the following questions:

  • Is the distribution symmetric?      If not, what is the skew?
  • Are there any outliers? If so,      which one(s)?
  • What is the SqFt area      of the outlier(s)? Is the outlier(s) smaller or larger than the average      restaurant in the database? What can you conclude from this observation?
  • What measure of central      tendency is more appropriate to describe Sales/SqFt? Why?

Cite references to support your assignment.

Part 2: Report.

Write a minimum 1,000-word statistical report with the following sections:

  • Section 1: Scope and      Descriptive Statistics
  • Section 2: Analysis
  • Section 3: Recommendations and      Implementation

Section 1: Scope and Descriptive Statistics

  • State the report’s objective.
  • Discuss the nature of the      current database. What variables were analyzed?
  • Summarize your descriptive      statistics findings from Part 1. Use a table and insert appropriate      graphs.

Section 2: Analysis

Using Microsoft Excel, create scatter plots and display the regression equations for the following pairs of variables:

  • BachDeg% versus Sales/SqFt
  • MedIncome versus Sales/SqFt
  • MedAge versus Sales/SqFt
  • LoyaltyCard(%) versus      SalesGrowth(%)

In your report, include the scatter plots. For each scatter plot, designate the type of relationship observed (increasing/positive, decreasing/negative, or no relationship) and determine what can be concluded from these relationships.

Section 3: Recommendations and Implementation

  • Based on your findings above,      assess which expansion criteria seem to be more effective. Is there any      expansion criterion that could be changed or eliminated? If so, which one      and why?
  • Based on your findings above,      does it appear as if the loyalty card is positively correlated with sales      growth? Would you recommend changing this marketing strategy?
  • Based on your previous      findings, recommend marketing positioning that targets a specific demographic.      (Hint: Are younger people patronizing the restaurants more than older      people?)
  • Indicate what information      should be collected to track and evaluate the effectiveness of your      recommendations. How can this data be collected? (Hint: would you use survey/samples      or census data?)

Cite references to support your assignment.