Question
Beltway Shoe Company sells luxury leather shoes in the United States. The company monitors its shoe sales by collecting randomly chosen data from store locations
Beltway Shoe Company sells luxury leather shoes in the United States. The company monitors its shoe sales by collecting randomly chosen data from store locations throughout the country. They record original price, sale price, and number of days it takes to sell each unit. Each pair of shoes is classified as ?Eastern Region" if it is sold in the Eastern part of the United States, or as ?Western Region" if it is sold in the Western part of the country. Randomly chosen samples provided sales data for 50 Western Region and 50 Eastern Region pairs of shoes. The complete data set is in the file named Shoes,linked at the bottom of the page.
Managerial Report
Prepare a report (see below) that summarizes your assessment of the nature of the shoe market in each region. Be sure to include the following seven (7) items in your report.
- Descriptive statistics (mean, median, range, and standard deviation) to summarize each of the three variables for the 50 Western Region shoes. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to make your determination.
- Descriptive statistics (mean, median, range, and standard deviation) to summarize each of the three variables for the 50 Eastern Region shoes. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to make your determination.
- Compare your summary results from #1 and #2. Discuss any specific statistical results that would help the Beltway Shoes Marketing Department understand the regional shoe market.
- Develop a 90% confidence interval estimate of the population mean sales price and population mean number of days to sell for pairs of Beltway Shoes in the Eastern Region. Interpret your results.
- Develop a 90% confidence interval estimate of the population mean sales price and population mean number of days to sell for pairs of Beltway Shoes in the Western Region. Interpret your results.
- Assume a branch sales manager requested estimates of the mean selling price of Western Region shoes with a margin of error of $5 and the mean selling price of Eastern Region shoes with a margin of error of $4. Using 90% confidence, how large should the sample sizes be for each?
- A Western Region store manager just placed on display a pair of Beltway Shoes, with an original price of $120.Also, an Eastern Region store manager just placed on display a pair of Beltway Shoes, with an original price of $125. For each pair of shoes, what is your estimate of the final selling price (based on the percent difference for the sale and list price) and number of days required to sell each of these units?
Write a report that adheres to the Written Assignment Requirements under the heading ?Expectations for CSU-Global Written Assignments? found in theCSU-Global Guide to Writing and APA Requirements.As with all written assignments at CSU-Global, you should have in-text citations and a reference page. An example paper is provided in the MTH410 Guide to Writing with Statistics,linked at the bottom of the page.
Your report must contain following:
- A title page in APA style.
- An introduction that summarizes the problem.
- The body of the paper should answer the questions posed in the problem by communicating the results of your analysis. Include results of calculations, as well as charts and graphs, where appropriate.
- A conclusion paragraph that addresses your findings and what you have determined from the data and your analysis.
Submit your Excel file in addition to your report.
Western Region Eastern Region Original Sale Price Days to Sell Original PrSale Price Days to Sell 82 60 20 148 139 33 140 123 26 103 89 59 80 70 16 112 100 189 89 50 72 81 61 145 135 120 18 136 100 91 146 143 109 112 89 66 80 80 79 121 100 81 125 100 130 83 60 65 70 60 100 99 80 100 81 52 96 93 65 15 103 95 14 98 70 34 118 100 33 106 100 102 136 100 101 109 99 45 101 50 55 102 89 166 140 75 69 96 96 50 73 42 120 103 40 56 135 99 90 84 60 102 89 40 40 96 50 71 144 60 130 125 75 45 109 45 23 136 100 80 145 100 106 103 103 33 81 50 103 100 60 25 136 70 62 149 100 23 100 78 74 100 88 45 137 137 101 129 90 70 132 50 96 148 70 103 85 43 98 99 69 65 71 62 189 102 82 34 109 89 122 109 100 144 130 119 108 137 137 2 108 89 19 85 65 34 136 90 135 94 84 45 98 80 15 141 141 100 82 50 7 131 120 8 79 79 1 130 120 10 138 99 17 107 80 45 95 79 23 113 80 120 136 129 30 142 100 100 74 34 17 105 60 36 139 100 25 140 70 75 143 89 120 83 43 69 120 109 35 97 90 45 75 75 25 95 90 38 136 69 15 129 99 56 124 132 91 80 54 68 100 69 79 50 54 58 75 93 25 118 33 89 49 73 100 79 75 103 60 100 80 60 60 70 71 34 55 67 78 114Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started