As a follow up to my previous memorandum, I have prepared specific descriptive statistics regarding the results of the previous coupon promotion period throughout the month of July. These descriptive statistics such as the relationship between net sales and descriptive statistics on net sales by various classifications of customers, as well as the descriptive statistics concerning the relationship between age and net sales can help us further understand our target audience and ultimately boost total sales for Pelican Department Stores. By identifying our mean, median and mode regarding each variable (marital status, type of customer, gender and age), we can further understand the relationships between our variables.
First of all, the promotion customers had a mean of $84.29 and the regular customers had a mean of $61.99. There is a difference of $22.30 between the average Net Sales of the two types of customers. The promotion customers had a discount coupon and this clearly had some sort of encouragement towards spending more money at Pelican Stores. The promotion coupons were a great benefit to the company when we take into consideration that there were many more promotion customers than regular and the promotion customers spent much more on average than the regular customers.
The Essay on What Are Descriptive Statistics
INTRODUCTION Statistical procedures can be divided into two major categories: descriptive statistics and inferential statistics. Typically, in most research conducted on groups of people, you will use both descriptive and inferential statistics to analyse your results and draw conclusions. So what are descriptive and inferential statistics? And what are their differences?We have seen that ...
The correlation coefficient between Age and Net Sales is -0.0106359. This clearly shows that there is neither a positive or negative correlation between the two variables. Therefore, all ages of audience should be targeted; there is no one particular audience regarding age that spent more money than the other. One audience in particular that we should target would be women. It seems that women tend to spend much more money at Pelican Stores than men.
The correlation coefficient between Items sold and Net Sales is 0.755059. This indicates a positive correlation between items sold and net sales; it also shows that the more items that were purchased, the more net sales per customer. Perhaps it would be beneficial to create an appeal towards buying more items; for example: 20% off the purchase of three or more items, 30% off the purchase of four of more items, etc.
