Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please use the following attachments to complete this report. Recognizing a difference between coffee and tea drinkers, a popular Canadian franchise, Jim Thorton's, is looking
Please use the following attachments to complete this report.
Recognizing a difference between coffee and tea drinkers, a popular Canadian franchise, Jim Thorton's, is looking to open a specialty line of shops that cater to coffee drinkers or tea drinkers, not both. The executive team has contracted you, as a statistics consultant, to help make the decision. You have collected data on the market for coffee and tea for the past 23 years. The data is the annual litres per person that has been consumed in Ontario. You will write a report that includes a one and two variable analysis of the given data and a recommendation to the executive team regarding which type of specialty shop to invest in. Share Your Thoughts As you make your calculations and create your graphs, and before you start your report, take a moment to contribute to and consider the following discussion. a What counts or matters when analysing the data, displaying your results, creating conclusions and creating your report to the audience of the executive team? 0 What are some specific things your report should contain so that you demonstrate a high level of understanding? a What are some things you need to focus on to communicate your thoughts and ideas clearly and completely. Share with your classmates. @ Knowledge and Application: One Variable Graphs and Statistics 1 . Calculate [measures of central tendency, and 'spread] for coffee and tea. 2. Create Histograms and Box-Plots for both coffee and tea, displaying the number of years in each interval of consumption in L/person. Go To Your Portfolio @ Knowledge and Application: Two Variable Graphs and Statistics 1. Create scatter plots for Coffee vs. Year and Tea vs. Year and Coffee vs. Tea. 2. Create and record the lines of best fit for each and the correlation coefficient. Go To Your Portfolio By using the definition and discussing what is relevant to the situation, interpret each of the following for both the coffee and tea data. Also, compare each for coffee and tea. Be sure to include the relevant information (state the value of or, in the case of the distribution, include the graphs) with each component. Mean Median Modal Interval Range IQR Standard Deviation Distribution of histogram and box plot Slope of each linear model Y-intercept of Coffee vs. Tea Correlation coefficient for each linear model . Relevant interpolations or extrapolations Correlation type (from Activity 5) for coffee and tea .OFDSI'NQWPS'JNTL _|._L_|. NL In your report, you will share your entire analysis with the executive team, including descriptions of the meaning of each component of the analysis. What overall conclusions, taking everything into account, can you make regarding the comparison of the coffee and tea markets? What are your recommendations to the executive team? Reflect, in writing, on how you used the analysis to come up with those recommendations and include any risks that you see with your recommendationStep 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