Stat 6003 Statistics For Financial Assessment Answers

Answer:

The board of Schmeckt Gut Energy is interested in opening new branches in three countries Nockaragua, Macronesia and Industria. The data used in the analysis was collected in year 2016. The countries are divided into districts. Nockaragua has five districts A, B, C, D and E. Macronesia has seven districts A, B, C, D, E, F and G. Industria has eight districts A, B, C, D, E, F, G and H. The data was record as per different countries and districts.

Data Analysis

The data was collected in 30 stores. The sample selected from Nockaragua country, the pie chart above indicate that equivalent data from district A and B were recorded represented by 26%. District C, D and E had 19%, 16% and 13% respectively. The prices of the energy products in the five districts had a range from 2.0 to 4.5 with an average price of 2.97. The total sale of the five districts of Nockaragua country is 95915 with a mean sale of 3197.1667.

Sample selected 30% was from district B, followed by F which had 28%. Most of the stores were located in district B and F. Few stores were located in district A and C represented by 3%. The prices in these districts ranged from 1.75 to 4 with average price of 2.68. The total sales of Macronesia districts are 160068 with mean sale of 4573.37.

District B had 30% representation in the data recorded followed by A with 17%. This country has the largest number of district. The mean price of the eight districts is 3.615. The range of prices is 2.0 to 5.0. The total sale of these districts is 158,757 with average sale as 3968.925 (Charles G., 2016).

Inferential analysis

Comparison of districts within each county

Ho: there is no significant difference in the prices in different districts

H1: the prices are different in different districts

The mean sales of the different towns differ in all the five towns A, B, C, D and E. The analysis of variance has the p-value as 0.906276 greater than 0.05 we reject Ho we conclude there is significant difference in the prices in the different districts in Nockaragua.

The average means of the sales of districts are different though they are closely associated. The P-value is 0.548801 greater than 0.05 we reject H0 and conclude that the price in different districts differ in Macronesia.

Average means of different towns differ thus not similar. The P-value is less than the alpha 0.05 thus we fail to reject H0 and conclude there is no price difference in different districts of Industria. The prices in the eight districts of industria are these same or almost equivalent (Venkat N. et al, 2016)

Comparison of districts sales within countries

H0: there is no significant difference in sales in the different districts within a country

H1: there exits significance difference in sales of different districts within a country

The P-value is 0.865587 is greater than 0.05 thus we reject H0 and conclude that the sales of different districts differ significantly are not the same. The average sale of every district is different.

The P-value is 0.648045 and the alpha level is 0.05. The p-value is greater than the 0.05 thus reject H0 and conclude that the sales in different districts are not the same. The different districts have different sales.

 The P-value is less than the level of significance 0.05 thus concludes that there is no significant difference in the sales made in different districts of industria. The sales made by different districts tend to be same.

Comparison of the countries

H0: there is no price difference in different countries

H1: there is a price difference between countries.

The analysis of variance of prices in the different countries; Nockaragua, Macronesia, Industria, the P-value is less than 0.05 thus we fail to reject the null hypothesis and conclude that there is no significant difference in the prices in the different countries. The prices in the three countries are almost the same.

Sales

H0: there is no significant difference in the sales in the three countries

H1: there exists a significant difference in the sales in the three countries

The P-value 0.000113 is less than the level of significance 0.05. Therefore, we fail to reject the null hypothesis and conclude that there exists no significant difference in the sales made in the different countries.

Conclusion

There three countries Nockaragua, Macronesia and Industria the price of commodities being sold don’t differ significantly. The sale also in these three countries is statistically insignificant. The new five stores can be opened in Industria since it’s the only country that has price and sales that differ significantly.

References

Neuman, W. (2014). Social Research Method: Qualitative and Quantitative Approaches, 7^th Edition. Pearson Education Limited:UK

Perry, J. & Perry, E. (2014). Contemporary Society: A Introduction to Social Science, 12^th Edition Pearson Education, Inc: Singapore

Venkat N., Vijav V., Venu G. and Rao R. (2016). Handbook of Statistics.[online]Retrieved from: https://www.sciencedirect.com/science/handbooks/01697161.

Charles G. (2016) Real Statistics Using Excel. [online] Retrieved from: https://www.real-statistics.com/.