Differences and Similarities between the Friendly Market Characteristics and Circle K - Statistics Project Example

This paper discusses the differences and similarities between the friendly market characteristics and circle K. it uses descriptive data in explaining the market characteristics. Some of the major descriptive statistics elements used include;

1. Mean
2. Median
3. Maximum
4. Minimum
5. Standard deviation
6. Skewness
7. Kurtosis
8. Jarque-Bera
9. Probability
10. Sum
11. Sum Sq. Dev
    
    1.1       Nominal variables include;

• Sex that is;
• Male
• female
  
  1.2       Ordinal, variable

• Friendly
• No one
  
  1.3       Interval variable

• Hurry
• Bargain
  
  1.4       Ratio scales

• Cash
• Work
• Quick
• Commute circle
  
  1.5       Descriptive statistics

BERGAIN

CASH

CIRCLEK

COMMUTE

DWELL

FRIENDLY

HURRY

KNOWNE

QUICK

SEX

WORK

 Mean

 2.842105

 2.157895

 0.631579

 0.631579

 1.631579

 0.631579

 1.526316

 2.368421

 1.894737

 1.631579

 1.684211

 Median

 3.000000

 2.000000

 1.000000

 1.000000

 2.000000

 1.000000

 1.000000

 3.000000

 2.000000

 2.000000

 1.000000

 Maximum

 3.000000

 3.000000

 1.000000

 1.000000

 2.000000

 1.000000

 3.000000

 3.000000

 3.000000

 2.000000

 3.000000

 Minimum

 2.000000

 1.000000

 0.000000

 0.000000

 1.000000

 0.000000

 1.000000

 1.000000

 0.000000

 1.000000

 1.000000

 Std. Dev.

 0.374634

 0.764719

 0.495595

 0.495595

 0.495595

 0.495595

 0.696692

 0.830698

 0.737468

 0.495595

 0.820070

 Skewness

-1.876388

-0.263044

-0.545545

-0.545545

-0.545545

-0.545545

 0.917354

-0.764584

-0.695391

-0.545545

 0.627845

 Kurtosis

 4.520833

 1.837400

 1.297619

 1.297619

 1.297619

 1.297619

 2.633256

 1.951953

 3.824315

 1.297619

 1.845180

 12.98038

 1.289155

 3.236790

 3.236790

 3.236790

 3.236790

 2.771351

 2.720766

 2.069235

 3.236790

 2.304041

 Probability

 0.001518

 0.524884

 0.198217

 0.198217

 0.198217

 0.198217

 0.250155

 0.256563

 0.355362

 0.198217

 0.315998

 Sum

 54.00000

 41.00000

 12.00000

 12.00000

 31.00000

 12.00000

 29.00000

 45.00000

 36.00000

 31.00000

 32.00000

 Sum Sq. Dev.

 2.526316

 10.52632

 4.421053

 4.421053

 4.421053

 4.421053

 8.736842

 12.42105

 9.789474

 4.421053

 12.10526

 Observations

 19

 19

 19

 19

 19

 19

 19

 19

 19

 19

 19

Table 1.0

2.0       Customer Characteristics

Do Friendly Market and Circle K have the same customers?

Both the Friendly market and Circle K market have different customers as they comprise both males and females of the same age sex and group. From table 1.0 the probability of Circle customers going shopping is 0.00151 and that of the friendly market is 0.198217 showing that the possibility or stack up the rate of friendly customers is more predictable compared to those of the Circle market.

3.0       Demographic characteristics

What is the demographic profile associated with Friendly Market’s customers?

  The friendly markets are composed of both women and men. The mean of both sexes is 1.631579 giving a chance that both genders must have been in equal proportion. The standard deviation is 0.495595 showing the level of dispersion of the two groups of the markets.

4. What is the demographic profile associated with Circle K’s customers

The demographic profile of Circle K’s customers is mainly composed of both sexes at an equal level. The dwelling of customers is from a middle background similar to those of friendly markets. Both works but at different levels are presented in the above graphs.

4.0       Customer lifestyle

What is the lifestyle profile associated with Friendly Market’s customers?

Individual lifestyle is reflected in the way individuals way of thinking, act, and feel. The buying patterns, the spending pattern, and the nature of the work one does. The customers of a friendly market are characterized by high spending lifestyle comprising. The mean spending is 0.631579 which shows average lifestyle spending while the maximum and minimum are 1 .0 and 0.0 respectively while the median gives 1.0. This shows high-end spending patterns within friendly market customers.

5.0       Conclusion

Throughout the analysis, one common characteristic of both markets is that they are composed of high-end spending individuals which have common characteristics. This is well captured in the skewness of the data and the kurtosis. The demographic patterns are similar with an equal number of males and females purchasing the two market products.