you are the manager of a retail store you want to investigate how metrics can improve the way you manage your business

you are the manager of a retail store you want to investigate how metrics can improve the way you manage your business

Using the Week 5 Data Set, create and calculate the following in Excel®:

  1. Conduct a goodness of fit analysis which assesses orders of a specific item and items you received by size, and do the following:
    • Conduct a hypothesis test with the objective of determining if there is a difference between what you ordered and what you received at the .05 level of significance.
    • Identify the null and alternative hypotheses.
  2. Generate a scatter plot, the correlation coefficient, and the linear equation evaluating whether a relationship exists between the number of times a customer visited the store in the past 6 months and the total amount of money the customer spent, and do the following:
    • Set up a hypothesis test to evaluate the strength of the relationship between the two variables.
    • Use a level of significance of .05.
  3. Use the regression line formula to forecast how much a customer might spend on merchandise if that customer visited the store 13 times in a 6-month period.
  4. Use the average monthly sales of 2014 ($1,310) as your base to do the following:
    • Calculate indices for each month for the next two years.
    • Graph a time series plot.

Week 5 Data Set:

ORDERS VS. SHIPMENTS CUSTOMERS IN PAST 6 MONTHS MONTHLY SALES ($)
Size # Ordered # Received Customer # # Visits $ Purchases Month $ Sales
Extra Small 30 23 1 8 468 Jan 1375
Small 50 54 2 6 384 Feb 1319
Medium 85 92 3 8 463 Mar 1222
Large 95 91 4 2 189 Apr 1328
Extra Large 60 63 5 10 542 May 1493
2X Large 45 42 6 4 299 Jun 1492
7 6 345 Jul 1489
8 2 197 Aug 1354
9 4 293 Sep 1530
10 1 119 Oct 1483
11 3 211 Nov 1450
12 9 479 Dec 1495
13 7 430 Jan 1545
14 7 404 Feb 1454
15 6 359 Mar 1322
16 10 544 Apr 1492
17 9 522 May 1678
18 5 327 Jun 1645
19 6 353 Jul 1580
20 7 405 Aug 1493
21 4 289 Sep 1719
22 7 386 Oct 1573
23 7 403 Nov 1629
24 1 146 Dec 1680
25 7 416
26 9 485
27 3 333
28 7 241
29 2 391
30 6 268

I attached the spreadsheet for Week 5, please use tab 5 that says Week 5 to complete the assignment.

 
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