Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

The major shopping areas in community of Springdale include Springdale Mall, West Mall, and downtown area on Main Street. A telephone survey has been conducted to determine strengths and weaknesses of these areas and to find out how they fit in the shopping activities of local residents. The 150 respondents were also asked to provide information about themselves and their shopping habits. The data are provided in the file SHOPPING. The variables in the survey can be found in the file CODING.

We will concentrate on variables 18-25, which reflect how important each of eight different attributes is in the respondent's selection of a shopping area. Each of these variables has been measured on a scale of 1 ("1" means the attribute is not very important in choosing a shopping area) to 7 ("7" means the attribute is very important in choosing a shopping area). The attributes being rated for importance are listed below. Examining the relative importance customers place on these attributes can help a manager "fine-tune" his or her shopping area to make it a more attractive place to shop.

18 Easy to return/exchange goods

19 High quality of goods

20 Low prices

21 Good variety of sizes/styles

22 Sales staff helpful/friendly

23 Convenient shopping hours

24 Clean stores and surroundings

25 A lot of bargain sales

1. Perform the following operations for variables 18-25:

- A. Obtain descriptive statistics (5-number summary, mean, mode, range and standard deviation) for each variable along with an explanation of what the descriptive statistics tell us about the variable.

- B. Generate a box-and-whisker plot for the variable. Does the distribution appear to be skewed? If so, is the skewness positive or negative? Calculations are easier for a quick check.

2. Based on the results for question 1, which attributes seem to be the most important and the least important in the respondents' choice of a shopping area? Which items from #1 did you use to decide on the least and most important attributes and why?

3.Use their respective coefficients of variation to compare the relative amount of dispersion in variable 29 (number of persons in the household) with that of variable 30 (respondent's age).

4.Determine the coefficient of correlation between variable 29 (number of persons in the household) and variable 30 (age). What percentage of the variation in household size is explained by respondent age?

Be sure that your report contains the following:

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M9355025

Have any Question?


Related Questions in Statistics and Probability

Monthly water bills for a city have a mean of 10843 and a

Monthly water bills for a city have a mean of $108.43 and a standard deviation of $36.98. Find the probability that a randomly selected bill will have an amount greater than $165, which the city believes might indicate t ...

Answer as thourough as possibleconsider an airline whose

Answer as thourough as possible. Consider an airline whose bottom line is sensitive to volatile jet fuel prices. To reduce the volatility, management decides to use derivatives to hedge the cost of jet fuel. The risk man ...

A survey is conducted from a population of people of whom

A survey is conducted from a population of people of whom 65?% have a college degree. The following sample data were recorded for a question asked of each person? sampled, "Do you have a college? degree?" Complete parts ...

Letnbspxnbspbe a random variable that represents the ph of

Let  x  be a random variable that represents the pH of arterial plasma (i.e., acidity of the blood). For healthy adults, the mean of the  x  distribution is  μ  = 7.4.† A new drug for arthritis has been developed. Howeve ...

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate risk?

New varieties of corn with altered amino acid content are

New varieties of corn with altered amino acid content are being investigated for higher nutritional content. The two new varieties, opaque-2 and floury-2, were to be compared to the normal corn. Also different levels of ...

The monthly sales demand for a new product is uncertain but

The monthly sales demand for a new product is uncertain, but it is considered to be adequately described by a normal random variable with mean 50,000 units and variance 100,000,000. (a) A factory to manufacture the new p ...

What are the differences between the federal deficit and

What are the differences between the Federal deficit and Federal Debt? How does a government budget deficit affect the economy, specifically the unemployment rate and job creation? Identify two periods in recent history ...

Suppose you believe that johnson companys stock price is

Suppose you believe that Johnson Company's stock price is going to increase from its current level of $22.50 sometime during the next 6 months. For $250.30 you can buy a 6-month call option giving you the right to buy 10 ...

In 1896 the first us open golfnbspchampionship was held the

In 1896, the first U.S. Open Golf Championship was held. The winner's prize money was $160. In 2012, the winner's check was $1,360,000. Requirement 1: What was the annual percentage increase in the winner's check over th ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As