# Business Analysis and Statistics Assignment

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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Problem statement and selection of tools...............................................................................1VISUALIZING DESCRIPTIVE STATISTICS..............................................................................2Graphical presentation............................................................................................................3RESULTS .......................................................................................................................................5Question 1...............................................................................................................................5Question 2...............................................................................................................................6Question 3...............................................................................................................................6Question 4...............................................................................................................................6DISCUSSIONS................................................................................................................................7Recommendation.............................................................................................................................9REFERENCES .............................................................................................................................10APPENDIX ...................................................................................................................................11Appendix 1:..........................................................................................................................11Appendix 2...........................................................................................................................11Appendix 3...........................................................................................................................11Appendix 4...........................................................................................................................16Appendix 5...........................................................................................................................18
INTRODUCTIONIn today’s period, companies have to take number of decisions and devise plan for salesand profit maximization at minimum of cost. The process of decision-making involves criticalanalysis of the data and statistical software are extensively useful for the managers in dataanalysis. Harvest Kitchen is an intimate restaurant that serves quality food services to the peopleusing high-quality ingredients and sustainable sourcing from domestic suppliers. Currently,business is experiencing several operational difficulties due to high increase in cost of goods sold(COGS) consistently with the organic industry. Such occurrence arise challenges for thecompany to maximize their sales with an adequate margin on COGS. Thus, the target of thereport is to present considerable insight to the restaurant CEO for making profitable businessdecisions. Owing to this, necessary analysis including descriptive & inferential statistics such asone-way anova, t-test etc. along with visualize presentation will be performed and communicatedto the CEO. The main purpose of performin such analytical tools is to answer specific businessproblem and issues such as examining sales considering product location & seasons, relationshipbetween sales & gross profit, differences in the payment methods and many others. Problem statement and selection of toolsManaging revenue in business and earning of good amount of profit is the one of themain problem that firm is currently facing in its business. In order to solve this problem someresearch questions are prepared which are given below.11What are the top/worst selling products in terms of sales?11Is there a difference in payments methods?11Does location have any impact on sale of the product? 11Is there a difference in sales and gross profits between different months of the year?11Are their differences in sales performance between different seasons?In order to answer first question descriptive statistics will be used and by doing best andworst products will be identified by considering mean values. In second question ANOVA willbe used to identify whether there is significant difference between sales that is earned acrossdifferent locations of retail store. In order to identify whether there is significant difference in sales and profit in previousmonths regression analysis approach will be used. This is because sales and profit are thosevariables that are associated with each other. Hence, by applying regression approach change1
that comes in gross profit with deviation in sales will be identified. In fourth question salesperformance across different regions is identified by using ANOVA table. This is because byusing ANOVA significant mean difference can be identified in sales across different regions.VISUALIZING DESCRIPTIVE STATISTICSDescriptive statistics are used to present general characteristics of the dataset throughstatistical measures such as mean, median, mode and standard deviation (Haughton and Kelly,2015). Mean showcase average value for a given data while standard deviation provides usefuland meaningful insight about data variability from the mean. The average sales of the fruit shop is \$369.96 10 (SD =1014.719) Average cost of goods sold by company at is reported to \$205.22 (SD = 561.072)Average net profit earned by fruit shop is reported to \$164.74 (SD = 482.106) Graphical presentation2

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