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Business Analytics and Statistics Assignment - Sunshine Coast

Added on - 16 Mar 2020

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Running head: BUSINESS ANALYTICS AND STATISTICS1Business analytics and StatisticsName:Institution:
BUSINESS ANALYTICS AND STATISTICS2Table of ContentsTable of Contents.......................................................................................................................2Introduction................................................................................................................................3Results and discussion................................................................................................................3Business performance............................................................................................................3Business performance by product location in the shop..........................................................4Business payment performance..............................................................................................7Average sales by the month of the year.................................................................................9Net sales by the season of the year.......................................................................................10Gross profit by month of the year........................................................................................11Association between net sales and month of the year..........................................................13Regression model.................................................................................................................14Conclusion................................................................................................................................14References................................................................................................................................16
BUSINESS ANALYTICS AND STATISTICS3IntroductionThis report will use longitudinal and cross-sectional data collected from a small health foodshop on the Sunshine Coast. The main area of emphasized is the sales and profit yield. It isthought that there is a profit difference by the area of sale, the season of the year and monthof the year. Therefore, the data will help determine whether the profit, and net sale madeduring different times of the year, and places significantly differ. Among other objectives, theresearch pointed out business performance, which can help make business decisions. Amongothers, the research computed descriptive statistics for the shop to give an overview of thebusiness performance. Second, several statistical tests were carried out to determine whichproduct is the best performing; which location is returning the highest revenue/sales, whetherprofit by month/season significantly differs. The data were refined, where the datameasurement scales for Location of product in the shop, Product Class (number), ProductClass and Product Name were changed from the ordinal scale to nominal scale. Similarchanges were made for the Season of the year, Month of the year, and Weekday.Results and discussionBusiness performancea.The total sales by the product classThe summary of the descriptive statistics of the total sales by the product class. It indicatesthat the water has the highest average sales of $1,866.88 (SD = $2,541.63). The second bestperforming product class is fruit (M= $1,048.68, SD = $2,469.41). The product class that isnot performing well (worst performing) is juicing with an average sale of $5.00, and secondworse performing product class is $17.96 (SD = $24.37).b.The total profit by the product classThe summary of the descriptive statistics is as follows.
BUSINESS ANALYTICS AND STATISTICS4The product class with the highest average profit is water (M = $884.25, SD = $1,188.12),and second-best performing is fruit (M = $530.73, SD = $1,247.33). The worse performingproduct is the Juicing ($3.00).Business performance by product location in the shopc.Total Profit by location of product in the shopSummary statistics are in the following table.ReportTotal Sales ($)Location of product in shopMeanNStd. DeviationFront572.751551430.657Left218.22376427.614Outside Front3384.37124719.347Rear536.071801072.153Right239.89311553.004Total369.9610341014.719The best performing location of the product is outside front (M= $3,384.37, SD = $4,719.35)and the second best performing location is the front with an average total sale of $572.75 (SD= $1,430.66). The worse performing shop location is the right with an average of $218.22(SD = $427.61). The assessment was carried out to determine whether there is a significantdifference in the average total sales by the location of the product in the shop. The summaryof the Analysis is as summarized below.
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