Essays on The Statistical Method Used in the Analysis of the Two Markets, Classification of the Variables Used in the Analysis Statistics Project

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The paper “ The Statistical Method Used in the Analysis of the Two Markets, Classification of the Variables Used in the Analysis” is a  forceful version of statistics project on marketing. 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; Mean Median Maximum Minimum Standard deviation Skewness Kurtosis Jarque-Bera Probability Sum Sum Sq. Dev 1.1Nominal variables include; Sex that is; Male female 1.2Ordinal, variable Friendly No one 1.3Interval variable Hurry Bargain 1.4Ratio scales Cash Work Quick Commute circle 1.5Descriptive 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 2.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 male and female with the same age sex and group.

From table 1.0 the probability of Circle customers going to 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.Demographic characteristicsWhat 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 customersThe demographic profile of the Circle K’ customers is mainly composed of both sexes at an equal level. The dwelling of the customers is from a middle background similar to those of friendly markets. Both work but at the different levels are presented on the above graphs. 4.1. Customer lifestyle What is the lifestyle profile associated with Friendly Market’ s customers? Individual lifestyle is reflected in the way an individual way of thinking, acting, and feeling.

The buying patterns, the spending pattern and the nature of work one does. The customers of the friendly market are characterized by a 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 a high end spending patterns within friendly market customers. 5.ConclusionThroughout 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 to the equal number of males and females purchasing the two markets product.

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