Question
Descriptive statistics are used to describesummarise the characteristics of a sample or data set; this type of statistics can help decision makers understand the collective
Descriptive statistics are used to describe\summarise the characteristics of a sample or data set; this type of statistics can help decision makers understand the collective properties of the elements of a data sample. Managers use descriptive statistics to look at trends, understand relationships between numbers, and make sound business decisions.This essay focuses on this type of descriptive statistics.
Below given is data set Table for this essay
DATA SET
Customer | Day | Browser | Time (min) | Pages viewed | Amount spent ($) |
1 | Wed | Google Chrome | 12 | 4 | 52 |
2 | Sat | Internet Explorer | 13 | 6 | 98 |
3 | Sun | Safari | 9 | 2 | 50 |
4 | Fri | Google Chrome | 8 | 5 | 78 |
5 | Mon | Firefox | 12 | 6 | 20 |
6 | Fri | Internet Explorer | 19 | 3 | 90 |
7 | Tue | Safari | 11 | 2 | 100 |
8 | Mon | Google Chrome | 9 | 4 | 103 |
9 | Thur | Safari | 7 | 5 | 52 |
10 | Fri | Other | 13 | 6 | 98 |
11 | Tue | Google Chrome | 19 | 2 | 50 |
12 | Mon | Firefox | 11 | 4 | 78 |
13 | Thur | Google Chrome | 9 | 5 | 20 |
14 | Wed | Internet Explorer | 7 | 6 | 90 |
15 | Sat | Safari | 13 | 2 | 100 |
16 | Fri | Google Chrome | 20 | 2 | 101 |
17 | Sun | Firefox | 12 | 4 | 77 |
18 | Thurs | Internet Explorer | 10 | 3 | 65 |
19 | Sat | Safari | 9 | 3 | 57 |
20 | Tue | Other | 10 | 3 | 99 |
CASE STUDY OR PROBLEM
Heavenly Chocolates Website Transactions Heavenly Chocolate manufacturers and sells quality chocolate products at its plant and retail stores located in New York. Two years ago, the company developed a website and began selling its products over the Internet. Website sales have exceeded the company's expectations, and management is now considering strategies to increase sales even further. To learn more about the website customers, a sample of 20 Heavenly Chocolate transactions was selected from the previous month's sales. Data shows the day of the week each transaction was made, the type of browser the customer used, the time spent on the website, the number of website pages viewed, and the amount spent by each customer.
MANAGERIAL REPORT
Using the descriptive method , following points need to be addressed.
1. Graphical and numerical summaries for the length of time the shopper spends on the website, the number of pages viewed, and the mean amount spent per transaction. Discuss what can you learn about Heavenly Chocolate's online shoppers from these numerical summaries.
2. Develop a scatter diagram and compute the sample correlation coefficient to explore the relationship between the number of website pages viewed and the amount spent and discuss.
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