Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 You are the data analyst for a small business and your manager has asked you to analyse the store's data for the past

Question 1 You are the data analyst for a small business and your manager has asked you to analyse the store's data for the past years. Your manager is particularly interested in understanding how the store's sales or any issues have changed over time, and whether there are any trends or patterns that can be observed. The information is crucial for making the right decisions in his/her business. More importantly, the manager wants to know what key determinants of his business revenue are.

Your task is to use descriptive statistics to analyze the store's sales data and to report your findings to your manager. Specifically, you should: a. Obtain the data: The store has provided you with a spreadsheet containing the total sales (in dollars or VND) for each month of the past years. Suggested sample size could be more than 20 months. It is fine if you have sample data within a year. It is nice if you can collect data from any local business with their consent to use its data for your answers. You could also find data from available and reputable sources, such as https://www.kaggle.com/. You should cite the data sources in your answer. You should tell us what the data is and how you got the data to help us understand data and its source? (4 marks) b. Clean and organize the data: Make sure that the data is organized in a logical and meaningful way, and check for any errors or missing values. Tell us what did you do for cleaning data? (2 marks) c. Calculate descriptive statistics: Calculate a range of descriptive statistics for the data, including measures of central tendency (e.g., mean, median, mode, min, max) and dispersion (e.g., standard deviation, variance). Give your comments on these indicators? (3 marks) d. Create visualizations: Use appropriate visualizations (e.g., line graphs, bar charts, histograms) to help illustrate and understand the data. Report the outputs with analysis? (4 marks) e. Perform a linear regression analysis to examine how sales relates to key factors in the sample data? (2 marks) f. Interpret and report findings: Interpret the results of your analysis and report your findings to your manager. Be sure to highlight any trends or patterns that you observe in the data and explain what these trends might mean for the store. Present your teams findings in an informative and engaging dashboard or infographic chart such as Piktochart. Make sure your visualisation is clear and can be easily understood by the manager. (3 marks) g. Overall, you earn more extra marks for using comprehensive and critical analysis, digital information and technologies for answering above questions. (2 marks) Note: You may use any software or tools that you are comfortable with to complete this assignment (e.g., Excel, Google Sheets, R, Stata, Python).

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

Step: 3

blur-text-image

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

Personal Financial Planning

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

13th edition

1111971633, 978-1111971632

More Books

Students also viewed these Finance questions