Business Analytics and Statistics Student Name: 6th October 2017 Introduction 3 Problem Definition 3 Analysis and Findings
Added on 2020-03-16
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Business Analytics and StatisticsStudent name:UniversityLecturer name:6th October 2017
Table of ContentsIntroduction......................................................................................................................................3Problem Definition..........................................................................................................................3Analysis and findings......................................................................................................................4a.The top/worst selling products in terms of sale....................................................................4b.Is there a difference in payments methods?..........................................................................6i)Hypothesis 1:.....................................................................................................................6ii)Hypothesis 2:.....................................................................................................................7c.Is there difference in sales performance based on where product is located? How does thisaffect profit and revenue?............................................................................................................8d.Is there a difference in sales and gross profits between different months of the year?........9e.Are their differences in sales performance between different seasons?.............................11f.Is there significant difference in the amount of rainfall based on season?.........................12g.Is there significant difference in the amount of profits based on season?..........................12Results of the hypothesis tests.......................................................................................................13Conclusion and Recommendations................................................................................................14References......................................................................................................................................15
Table 1: Top/Worst selling products...............................................................................................4Table 2: t-Test: Two-Sample Assuming Equal Variances..............................................................6Table 3: t-Test: Two-Sample Assuming Equal Variances..............................................................7Table 4: Descriptive Statistics.........................................................................................................8Table 5: ANOVA Table...................................................................................................................9Table 6: ANOVA Table.................................................................................................................10Table 7: Measures of Association..................................................................................................10Table 8: Descriptive statistics........................................................................................................11Table 9: ANOVA Table.................................................................................................................11Table 10: Measures of Association................................................................................................11Table 11: ANOVA Table...............................................................................................................12Table 12: ANOVA Table...............................................................................................................12Table 13: Descriptive statistics......................................................................................................12
IntroductionThe harvest kitchen business is situated along the sunshine coast. It mainly deals with thefarm products and it’s been doing this for the past one year. The business has got sixemployees, 1 deliveryvan,a retailoutletand acoldstorewarehouse. It deals on all levels/chains of meeting customers; retail, wholesale. The business is however still at the startphase and the main sources of the problem are revenue, cost of goods and average sales.Problem DefinitionA statistical research is conducted to determine the past performance of the business toinfluence is future (business analytics). This will involve determining why the business isstill at the starting face even after one year of operations, main factors that may influencethis and how they will be fixed to come up with a solution for a healthy business.Research questions include;1.What are the top/worst selling products in terms of sales?a.Is there a difference in payments methods?2.Are the differences in sales performance based on where the product is located in theshop? How does this effect both profits and revenue?3.Is there a difference in sales and gross profits between different months of the year?4.Are their differences in sales performance between different seasons?a.How does this relate to rainfall and profits?The questions will help in determining the exact area where an improvement is needed.To achieve this, business data will be acquired and analysed so as to arrive at a conclusionof the past business performance and how this can be improved. The kitchen business data
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