Descriptive Statistics Coursework with Tasks and Analysis

This coursework covers descriptive statistics with tasks and analysis including expenditure, time series data, break even analysis, and more. It includes subject, course code, and university.

DESCRIPTIVE STATISTICS

TABLE OF CONTENTS
PART 1............................................................................................................................................4
TASK 1............................................................................................................................................4
a)..................................................................................................................................................4
b)..................................................................................................................................................4
TASK 2............................................................................................................................................4
a)..................................................................................................................................................4
b)..................................................................................................................................................6
c)..................................................................................................................................................6
TASK 3............................................................................................................................................6
a)..................................................................................................................................................6
TASK 4............................................................................................................................................7
a) .................................................................................................................................................7
b) .................................................................................................................................................7
c)..................................................................................................................................................7
TASK 5............................................................................................................................................7
a)..................................................................................................................................................7
b)..................................................................................................................................................8
c)..................................................................................................................................................8
d)..................................................................................................................................................8
e)..................................................................................................................................................8
TASK 6............................................................................................................................................8
1....................................................................................................................................................8
2....................................................................................................................................................8
TASK 7............................................................................................................................................8

PART 2............................................................................................................................................9
1....................................................................................................................................................9
2....................................................................................................................................................9
3....................................................................................................................................................9
4....................................................................................................................................................9
5..................................................................................................................................................10
6..................................................................................................................................................10
REFERENCES..............................................................................................................................11

PART 1
TASK 1
a)
Expenditure (£)
on Stand Mixers
Mean 224.00
Standard Error 6.58
Median 224.00
Mode 224.00
Standard Deviation 75.00
Sample Variance 5625
Kurtosis -0.49
Skewness -0.32
Range 301.00
Minimum 68.00
Maximum 369.00
Sum 29120
Count 130
Coefficient of Variation 33.5%
b)
On the basis of the descriptive statistics, it is analyzed that average number of
respondents (224) are ready to pay for a stand mixer. On the other hand the value of standard

deviation reflected that there is 75% chances of affecting or influencing the views of selected
respondents.
TASK 2
a)
Table 1
Expenditure
(£) Frequency
Frequency
(%)
Under 100 14 11%
100 and under
200 35 27%
200 and under
300 65 50%
300 and over 16 12%
Total: 130 100%
Table 2
Expenditure
(£) Frequency
Cumulative
Frequency
Cumulat
ive
Frequen
cy (%)
Under 100 14 14 10%
Under 200 35 49 34%
Under 300 65 100 68%
Under 400 16 81 55%
Total: 130 146 100%
Table 3
Expenditure
(£)
Frequency
(f)
midpoint
(x) fx (x-mean) (x-mean)2
f(x-
mean)2
Under 100 14 50 700
-
163.84615
38
26845.56
213
375837.8
698
100 and under
200 35 150 5250
-
63.846153
85
4076.331
361
142671.5
976
200 and under
300 65 250 16250
36.153846
15
1307.100
592
84961.53
846
300 and over 16 350 5600
136.15384
62
18537.86
982
296605.9
172

Total: 130 27800
900076.9
231
Mean
213.84615
38
Variance
6923.6686
39
Standard
Deviation 83.2
b)
The difference has been spotted in the mean value and standard deviation value of both
the data types due to class interval. Whereas, un-grouped data type is providing more reliable
information in comparison to grouped because of not using the midpoint theory into the results.
c)
As per Ogive curve, 25th is referred to 1st quartile = ¼(n+1)
= ¼ (4+1)
= 5/4
=1.25th term = 14
Through calculation, it is reflected that £14 is the minimum amount a consumer required to
spend a stand mixer.
TASK 3
a)
Time series data mainly focuses on same variable with the passage of time on the other
hand cross sectional focus on different variables in a single time. Time series further known as
trend analysis as it only emphasis upon single variable over a selected tenure. On the other hand
cross sectional analysis mainly compares bunch of variables at a single point of time (Braglia
and et.al., 2019). Both the type of data are not useful for in the current scenario, so it can state
that only time series is appropriate enough to analyze the demographic profile and lifestyle
characteristics of its customers because there is only one variable which changes over the time
that fall under time series data.

TASK 4
a)
b)
1 + 3 + 5 + 9 +10 (activity)
= 6 + 4 + 6 + 5 + 2 (in weeks)
= 23 weeks
c)
Critical activity is defined as starting and finishing time is defined and non-critical
activity refers to those that can have a certain extent and can also be selected freely.
1 + 3 +4 +7 + 6 + 5 + 9 +10 (activity)
= 6 + 4 + 2 + 3 + 5 + 6 + 5 + 2 (in weeks)
= 33 weeks
TASK 5
a)
Sales Revenue
(£'000)
Total Costs
(£'000)
Average Order
Value (£)
Gross
Profit
(£'000)
Sales Revenue
(£'000) 1
Total Costs (£'000) 0.54003673 1
Average Order 0.974847027 0.464074002 1

Value (£)
Gross Profit (£'000) 0.423092657 0.839835895 0.338727951 1
b)
On the basis of the above table, it is identified that the best predictor is sales revenue
because it is highly associated with other variables.
c)
d)
The coefficient of determination is identify as 17% that means changes in independent
variable are affected over 17% to dependent one. This in indicated that there is low association
between these variables.
e)
On the basis of the regression equation y = 0.2466x + 474.02, it has been identified that
472.02is an intercept and slop is upwards which indicated the value of 0.246
TASK 6
1.
Formula Coefficient of variation = Standard deviation / net expected value *100
For venture A 30.08 / 47 *100 = 64
For venture B 13.32 / 41.2 *100 = 32.33
2.
The retailer should select venture A as it is having a strong relationship with variables
and further derive better results from Project B.
TASK 7
The entire journey of me in this project is well due to strong IT skill which further create
a positive outcome. Also, due to constant support of my tutor, I am successfully able to interpret
the findings (Wang and Lee, 2017). The challenging part was to create network diagram and that

is why, it took time as I carry only the theoretical knowledge pertaining to this. In the next time,
whenever I perform same task, I would aim to improve my analytical skill and IT skills.
PART 2
1
The high low tactic is used to identify the variable and fixed cost of a product in the
mixed cost. This further support in assessing the total cost.
Highest Activity cost 4,00,000
Highest activity Units 36,000
Lowest Activity cost 183,200
Lowest activity units 13,320
Formula (HAC – LAC)/ (HAU - LAU)
(400000 – 183200) / (36000 - 13320)
= 216800 / 22680
= 9.56
2
Formula Highest Activity Cost – (Variable cost per units * Highest Activity
Units)
400000 – (9.56 * 36000)
= 400000 – 344160
= 55840
3
Break event point = Fixed Cost/Selling price – variable cost
= 55840 / (15 – 9.56)
= 55840 / (5.44)
= 10264.70
Hence, Andreea Ltd can sell and offer 10264.70 as this supporting to meet up the target profit for
January 2021.
4
Formula (Actual sales – Break Even Point) / Selling Price per Unit
= (36000 * 15 – 10264.70) / 15

= (54000 – 10264.70) / 15
= 529735.3 / 15
= 35315.68
5
On the basis of the above forecast sales of the company in future will be 35315.68
6
Limitations of break even analysis
 This method is highly based on assumptions that all cost and expenses are separated into
different component.
 It is al;so anticipate that that fixed cost remain constant at all activity level that might
generate wrong results (Cottafava and et.al., 2021).
 This only work on assumption for creating profits but there is allot more aspect influence
the performance of company.

REFERENCES
Books and Journals
Braglia, M. and et.al., 2019. Lean manufacturing tool in engineer-to-order environment: Project
cost deployment. International Journal of Production Research. 57(6). pp.1825-1839.
Cottafava, D. and et.al., 2021. Assessment of the environmental break-even point for deposit
return systems through an LCA analysis of single-use and reusable cups. Sustainable
Production and Consumption. 27. pp.228-241.
Wang, Y. and Lee, S. H., 2017. The effect of cross-border e-commerce on China’s international
trade: An empirical study based on transaction cost analysis. Sustainability. 9(11).
p.2028.