Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A new retail store opened three months ago and is now using all available information to analyze their data. Using the data file answer the

image text in transcribed

image text in transcribed A new retail store opened three months ago and is now using all available information to analyze their data. Using the data file answer the following: 1. Create a frequency distribution for the daily customers served during the quarter. 2. Graph the relative frequencies distribution for the dally customers served during the quarter. 3. Find the average daily customers, purchases, returns and complaints during the quarter. 4. Find the standard deviation for daily customers, purchases, returns and complaints in during the quarter. 5. Determine the skewness of the data for daily items purchased during the quarter. 6. What percent of customers had a complaint during the quarter? 7. Using this proportion find the probability of each of the scenarios: a. Of the next 25 customers none leave a complaint b. Of the next 25 customers 1 leaves a complaint c. Of the next 25 customers more than 1 leaves a complaint 8. Using the daily items purchased during the quarter, what is the probability that a day in will have: a. Less than 20,000 items purchased b. More than 45,000 items purchased c. Between 25,000 and 35,000 items purchased 9. Using the daily returns, what would be the number of daily returns to be in the top 6% of days? 10. Using the rate at which an item is returned, determine the probability of at least 8 of the next 100 items purchased being returned. The retall store had total customers served of 443550 in April 11. Using this information along with the given data, perform a chi-square test comparing the total customers served by the retail store with that of the two largest competitors. On the last day of the current calendar year the retail store recorded 50 complaints. 12. Determine the line of best fit and correlation for daily complaints for the given data. Using the equation what would have been expected on the last day of the year if the trend was maintained. Explain the difference between this value and the actual value of the day given. After a couple more months the retail store wishes to use the initial dataset as a sample and needs to determine the following: 13. A 99% confidence interval using the returns data from the quarter. 14. Hypothesis test to compare the given data to what the store manager expects (

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Economics And Finance Of Professional Team Sports

Authors: Daniel Plumley, Rob Wilson

1st Edition

0367655667, 978-0367655662

More Books

Students also viewed these Finance questions

Question

Review the history of forensic psychology in the United States.

Answered: 1 week ago

Question

Id probably just get more upset. Its bett er to just drop it.

Answered: 1 week ago