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The purpose of this individual assignment is to give you a chance to improve your comprehension and abilities in utilizing the principles and knowledge taught during sessions 1-4. The assignment consists of five questions that require completion using an Excel spreadsheet. This paper will be graded out of 100 and is worth 20% of your final course grade.
Question 1 (40 points)
Read the following scenario and answer the questions.
You are a data analyst at a retail company that specializes in selling electronics. Your manager has asked you to analyze sales data from the past year to gain insights into the company's performance. The provided dataset (Excel data file) includes the following variables for each transaction
Transaction ID: A unique identifier for each transaction.
Date: The date of the transaction.
Product ID: A unique identifier for each product.
Product Category: The category to which the product belongs (e.g., smartphones, laptops, accessories).
Quantity Sold: The number of units sold in the transaction.
Price per Unit: The price at which each unit was sold.
Total Sales: The total revenue generated by the transaction (calculated as Quantity Sold * Price per Unit).
Using this data, you need to provide insights that will help the company understand its sales performance and identify potential areas for improvement.
A. Identify the type and scale of measurement for the following variables:
|
Type of variable |
Scale of measurement |
Transaction ID |
Qualitative |
Nominal scale |
Date |
Quantitative |
Interval sacle |
City |
Qualitative |
Nominal scale |
Product ID |
Qualitative |
Nominal scale |
Product Category |
Qualitative |
Nominal scale |
Quantity Sold |
Quantitative |
Ratio scale |
Price per Unit |
Quantitative |
Ratio scale |
Total Sales |
Quantitative |
Ratio scale |
B. Calculate the measures of central tendency and dispersion for the Quantity Sold and Total Sales. What do these statistics tell you about the sales performance? Interpret your results
The mean value of sales is close to that of Chinese books, and the variance and standard deviation are small, indicating that the number of sales for most transactions does not very much.
The mean, variance and standard deviation of total sales, the large gap indicates that the transaction amount is large, and the volatility reflects that the sales volume of different products is significantly affected by the price level.
C. Create an appropriate statistical graph to display total sale in the company. Describe the distribution (e.g., skewness, kurtosis). Are there any outliers? Explain
D. Calculate the total and average sales for each product category. Which product category is performing the best? Which category needs improvement? Create an appropriate graph to show your results visually.
E. Aggregate the data by month and calculate the total sales for each month. Create a Time Series graph. Are there any noticeable trends or seasonal patterns? Explain
F. Categorize the data by city and total sales amount. Calculate the percentage relative frequency, interpret your results, and provide suggestions for the company's policymakers.
G. Identify the top 10 products by total sales. What proportion of the total sales do these top 10 products represent?
H. Compare the variability in sales between different product categories. Which category has the highest variability? What might this indicate?
Question 2. (30 points)
You are a financial analyst reviewing the revenue performance of " CoffeeBuzz." over the past 24 years (2000-2023). The provided data (Excel data file) shows CoffeeBuzz 's annual revenue in thousands of dollars.
A. Create a frequency distribution table for CoffeeBuzz.'s annual revenue, using appropriate class intervals ( Frequency, %Cumulative Frequency, % Relative Frequency). Interpret your findings.
B. Represent this data graphically using a histogram.
C. Calculate measure of central Tendency and Measures of Dispersion for CoffeeBuzz 's annual revenue. Interpret your findings.
D. Generate an appropriate statistical graph to reveal trends in CoffeeBuzz.'s revenue over the 24-year period. Please interpret the graph. What recommendations would you make to CoffeeBuzz's board regarding its future financial strategy?
Question 3. (20 points)
Look at the below table and answer the following questions:
Number of Sales by Size of Sale, May |
|
Size of sale |
Number of sales |
< $1,000 |
15 |
1,000- 1,999 |
30 |
2,000-2,999 |
12 |
3,000-3,999 |
8 |
4,000 + |
5 |
A. What is the variable of this study?
B. Is this variable qualitative or quantitative? Explain
C. Is this variable discrete or continuous?
D. What is the level of measurement of this variable? Explain
E. Generate an appropriate statistical graph for the variable of this study. Interpret your graph.
F. Construct frequency distribution table and calculate %Cumulative Frequency and % Relative Frequency.
Question 4 (5 points)
Find out if the lines passing through the following points are parallel or not? write the process for solving the problem
· Line A passes through (-4,7) and (0, 3)
· Line B passes through (3, 5) and (2, 1)
Question 5 (5 points)
Find the solutions for x and y in the following equations (write the process for solving the problem)
A. 2x-8y=11 and 9x+3y=5