Descriptive Statistics for NCC WK Assignment
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Added on 2019-10-18
Descriptive Statistics for NCC WK Assignment
Added on 2019-10-18
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Running head: DESCRIPTIVE STATISTICS FOR NCC WK 41Descriptive Statistics for NCC WK 4Jared NorrellQNT\56118 July 2016Professor Villalobos
DESCRIPTIVE STATISTICS FOR NCC WK 42Descriptive Statistics for NCC WK 4Determine the appropriate descriptive statistics.Note: If the data was normally distributed, use the mean and standard deviation. If the data was skewed significantly, use the word median and interquartile range.Numeric Variable: Sales (Units)Distribution: Central Tendency: 8173 (Rounded to Integer)Dispersion: 121.4534564 ~ 122 (Rounded to Integer)Number: 36Min/Max: 7975/8400Confidence Interval:(if distribution is normal)Numeric Variable: Marketing Spend ($)Central Tendency: 86888.88889Dispersion: 7671.013261Number: 36Min/Max: 72000/98000
DESCRIPTIVE STATISTICS FOR NCC WK 43Descriptive Statistics InterpretationNumeric Variable Sales in UnitsThe first variable used for the descriptive statistics is sales in units. It covers all models ofcars, or sales unit. This variable is a dependent variable as the total sales are driven by the cost spent on marketing. From the scattered plot in Appendix B, it is evident that sales and marketing have a linear plot where sales of units sold is dependent on the amount of money spent on marketing in each month. From the descriptive statistics it is identified that the average number of units sold over 36 months is 8173 per month with a variation of plus/minus 122 units. Numeric Variable Marketing SpendThis variable takes into consideration the total amount of money spent on the monthly marketing campaign. The data for 36 months is considered for the interpretation as the sales of the company have been declining for the last 3 years. With the help of interpretation of marketing spending and the sales, it will be easier to check the hypothesis that higher spending on marketing will help in increasing the overall sales. Appendix A: Raw data used in the analysisMonthsSales (units)Marketing Spend ($)
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