Write a 750-word statistical report that includes the following sections:
- Section 1: Scope and descriptive statistics
- Section 2: Analysis
- Section 3: Recommendations and Implementation
Section 1 – Scope and descriptive statistics
- State the report’s objective.
- Discuss the nature of the current database. What variables were analyzed?
- Summarize your descriptive statistics findings from Excel. Use a table and insert appropriate graphs.
Section 2 – Analysis
- Using Excel, create scatter plots and display the regression equations for the following pairs of variables:
- “BachDeg%” versus “Sales/SqFt”
- “MedIncome” versus “Sales/SqFt”
- “MedAge” versus “Sales/SqFt”
- “LoyaltyCard(%)” versus “SalesGrowth(%)”
- In your report, include the scatter plots. For each scatter plot, designate the type of relationship observed (increasing/positive, decreasing/negative, or no relationship) and determine what you can conclude from these relationships.
Section 3: Recommendations and implementation
- Based on your findings above, assess which expansion criteria seem to be more effective. Could any expansion criterion be changed or eliminated? If so, which one and why?
- Based on your findings above, does it appear as if the Loyalty Card is positively correlated with sales growth? Would you recommend changing this marketing strategy?
- Based on your previous findings, recommend marketing positioning that targets a specific demographic. (Hint: Are younger people patronizing the restaurants more than older people?)
- Indicate what information should be collected to track and evaluate the effectiveness of your recommendations. How can this data be collected? (Hint: Would you use survey/samples or census?)