Data Analysis for Decision Making - Cookfood Project

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Data Analysis for Decision Making - Cookfood Project

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Excel, data analysis, variable, statistics, management

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Abstract

A questionnaire is administered to a sample set of 856 individuals on a pilot consumer brand called "Cookfood" ready-to-eat product. The data gathered on the sample set is based on their answers with respect to their attitude to the new product, as well as standard demographics, such as age, weight, gender, residence and relationship status (single or not). These variables are supplemented with other data, such as geographical area of residence, income, occupation and credit card debt. Finally, self-reported information is gathered in the survey as to consumption habits, such as the number of monthly trips to the mall.

Data Analysis - Descriptive Statistics
1. Which variables are qualitative and which ones are quantitative?
2. Summarize the data and comment on the results. Discuss your findings.
3. Descriptive statistics on product trial by socio-demographics and behavioral characteristics.
4. Are income and neighborhood correlated. What conclusion do you draw?
5. Investigate whether there is a relationship between trial and number of visits.
6. Is there a link between product trial and marital status? If so, is this link strong? Discuss your results.
Data Analysis - Correlation & Regression
1. The managers claim that the number of visits and income are related. Do results show evidence to this claim?
2. The company managers estimate that the proportion of Cookfood triers is greater than 59%. At α= 0,05, do results provide evidence regarding this assumption?
3. What do the results of the analysis tell us about the relationship between Cookfood trial, marital status and gender?

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[...] As a result, the standard expression of the t-statistic as the ratio of expected difference over standard deviation is replaced with a more involved expression, namely: where X1 and X2 refer respectively to the mathematical expectation of each group, n1 and n2 their respective sub-sample sizes, and sp a weighted standard deviation, whose expression writes thus: where σ1, σ1 are variances of groups 1 and 2 respectively. The resulting statistic is then compared with the theoretical Student distribution with 1 degrees of freedom, in this case with 856-1 =855 degrees of freedom. D. Are income and neighborhood correlated. What conclusion do you draw? The neighborhood is a qualitative variable, and therefore cannot correlate with a quantitative one. [...]

[...] If so, is this link strong? Discuss your results. We report the contingency table between trial and number of marital status in the table below: Living alone Trial 0 1 Tota CookFood l 0 324 37 361 1 387 108 495 Total 711 145 856 In order to check if there is a link between marital status and whether an individual had already tried the CookFood product, we conduct the Pearson's Chi-squared test. The null hypothesis of this test assumes a homogeneous distribution of events in the contingency table, that is, there are as many people in each of the four cases in the matrix above. [...]

[...] The company managers estimate that the proportion of Cookfood triers is greater than 59%. At α= 0,05, do results provide evidence regarding this assumption? Sample average from the survey suggest that the proportion of individuals who have tried CookFood is 57,8% which is different from the company managers' assertions. The null hypothesis is that the proportion on average is equal to 59%. The hull hypothesis is that the average proportion is larger than 59%. The one-tail test yields a t-statistic of -0,694, which implies a p-value of 24,38%. [...]

[...] Investigate whether there is a relationship between trial and number of visits. We test whether the number of visits is statistically different between individuals who have tried CookFood and those who did not. The summary statistics are reported below: Tried Cookbook Didn't Tried Student Try Average 2,978 6,016 -20,1940 Standard 1,641 2,491 0,00% Deviation Size 361 495 Sp 2,174 As we can see on the table, individuals who didn't try CookFood are least likely to go often to the shopping mall: on average they go about 3 times a month, less than half the average number of times those who did try CookFood go the mall in a given month. [...]

[...] Car Value How much is your car worth in Idem Idem Blue Book? Number of How many times do you go to the Idem Idem visits shopping mall per month? B. Summarize the data and comment on the results. Discuss your findings. We focus on quantitative variables in order to compute their summary statistics, namely average, standard deviation, median, maximum and minimum values, which are reported in the table below: Table: Summary Statistics Variable Mean St.Dev Median Maximum Minimum Mode Age 38,78 9,61 37,50 64 22 29 Income 45266,9 28631,2 39950 190500 2600 26500 4 9 Weight 192,66 24,75 190 258 142 197 Credit Card 1431,20 1278,04 1020 8960 0 0 Debt Car Value 5908,48 5533,46 4175 33870 130 1090 Number of 4,73 2,64 4 17 0 3 visits The average age in the sample set of 856 individuals is a little under 39, while the median is 37,5. [...]

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