Assignment BUS501 Business Analytics and Statistics
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Business Analytics and Statistics (BUS501)
Added on 2020-03-16
Assignment BUS501 Business Analytics and Statistics
Business Analytics and Statistics (BUS501)
Added on 2020-03-16
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Running head: BUSINESS ANALYTICS1Business AnalyticsName:Institution:
BUSINESS ANALYTICS 2Table of ContentsIntroduction................................................................................................................................2Results and discussion................................................................................................................2Descriptive analysis................................................................................................................2Method of payment performance...........................................................................................3Products performance.............................................................................................................4Sales performance by location...............................................................................................4Business performance in different months.............................................................................6Business performance in different seasons............................................................................8Association between rainfall and profit...............................................................................10Association between rainfall and gross sale.........................................................................11Conclusion............................................................................................................................12Recommendation..................................................................................................................12References................................................................................................................................13Appendix..................................................................................................................................14IntroductionBusinesses need an understanding of the progress of the business throughout the year.It should be able to determine whether their sales/profit and cost of goods sold is different indifferent seasons and the month of the year. The main challenge of businesses is determiningwhether their net sales, profit among other crucial factors are affected by rainfall. Therefore,this research will use different business analytic approaches to gain insight into the businessperformance. The research is designed to understand the business performance. Eachsubsection will answer a specific research question. Results and discussionDescriptive analysisDescriptive statistics for the three crucial business variables were computed, and theresults are summarized below.
BUSINESS ANALYTICS 3StatisticsTotal Sales ($)Cost of Goods ($)Net Profit ($)NValid103410341034Missing000Mean369.96205.22164.74Median85.1549.5535.02Std. Deviation1014.719561.072482.106Skewness8.5118.3259.234Std. Error of Skewness.076.076.076Percentiles2532.6216.1013.6575280.76162.19110.46The average sales total is $369.96 (SD = $1014.72). The median of the total sales issignificantly lower than the average, which implies that the data are very skewed. Theskewness coefficient is 8.511 indicating a case of very skewed data. Notably, all the threevariables (Total Sales ($), Cost of Goods ($), and Net Profit ($)) are very skewed (SkewCoef. > 3.0). The middle 50% of the total sales is between $32.62 and $280.76. The averagecost of goods sold is $205.22 (SD = $561.07). The middle 50% of the cost of goods sold isbetween $16.10 and $162.19. The business earns on average $164.74 (SD =$482.106) netprofit. The middle 50% of the net profit lies between $13.65 and $110.46. The mostsignificant issue that can be obtained from this is that the average total sales are higher thanthe cost of goods sold which indicate that the business is earning a profit.Method of payment performanceAn assessment was carried out to determine whether the different method of paymentadopted rate of performance is the same. This was aimed at determining whether there was adifference in the method of payment. A paired t-test was carried out for different paymentmethods, and the results are as follows. Paired Samples TestPaired DifferencestdfSig. (2-tailed)
BUSINESS ANALYTICS 4MeanStd.DeviationStd. ErrorMean95% ConfidenceInterval of theDifferenceLowerUpperPair 1Cash_Total - Credit_Total-180.512236.23512.348-204.794-156.229-14.618365.000Pair 2Cash_Total - Visa_Total-151.563249.17313.024-177.175-125.950-11.637365.000Pair 3Cash_Total - Mastercard_Total382.192170.9338.935364.622399.76342.776365.000Pair 4Cash_Total - House_Account366.899178.2429.317348.577385.22039.380365.000Pair 5Credit_Total - Visa_Total28.94989.4374.67519.75638.1426.192365.000Pair 6Credit_Total - Mastercard_Total562.704236.97512.387538.346587.06345.427365.000Pair 7Credit_Total - House_Account547.410248.71013.000521.846572.97542.108365.000Pair 8Visa_Total - Mastercard_Total533.755274.25714.336505.564561.94637.233365.000Pair 9Visa_Total - House_Account518.462261.81213.685491.550545.37337.885365.000Pair 10Mastercard_Total - House_Account-15.294133.4056.973-29.006-1.581-2.193365.029The t-values (365), p < .05 shows that adequate evidence exists to reject the nullhypothesis [ CITATION Rie17 \l 1033 ]. In summary, the findings indicate that all themethod of payment is performing significantly different. Products performanceAn assessment to determine which product has the highest sale, and the least saleswere performed. For accuracy, the profit yield by each product should be used. The analysisresults indicate that water has the highest average total profit of $884.29 (SD = 1188.119).The second best performing product is the fruit (M = $530.73, SD =$1,247.33). The worstperforming product or one that has the least total profit is the Juicing with an average of$3.00, followed by Spices (M = $8.39, SD =$16.33).
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