Question
You have been hired as consultants to the national marketing manager of a large discount store chain.The chain has recently conducted an experiment at 80
You have been hired as consultants to the national marketing manager of a large discount store chain.The chain has recently conducted an experiment at 80 of their stores (of similar sizes) to help understand unit sales of a particular flat screen SmartTv unit.The experiment ran one week.During this time, the corporate office assignedto each store one of four price levels ($520, $540, $560, $580), the number of daily TV ads to run locally (between 1 and 5) and the type of display to use (special store-front display or nothing special).
The Excel file contains data on the following variables:
(1) Price: The unit price for each unit (in $).
(2) TV-Ads:The number of TV ads run daily
(3) Display: Whether the TV units were displayed prominently or not (Display=1 if the TV units were featured in a special display near the front of the store and Display=0 if there was no special display).
(4) Sales: The number of TV units sold by the store during the experimental week.
Your job is to analyze the data and report back to the national manager.You are to use both graphs and numerical values to summarize the data.The list below specifies activities and results to be included in the report.
- Obtain descriptive statistics, a boxplot, and histogram for Sales to help analyze the TV unit sales for all 80 stores (as a single group).Summarize your most important findings to the manager.
- The national manager is wondering if having a special display seems to make any difference in TV unit sales.To address this question, sort the data using Display as the key variable then again obtain descriptive statistics (this time including 95% confidence intervals for the population mean), a boxplot, and histogram for Sales, for each type of Display.Does it seem that the display type makes a difference?
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