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Essay / Research Paper Abstract
This 10 page paper answers three questions set by the student. The first looks at how sales figures for three stores are analysed with the use of scatter diagrams, significance testing and examination of the mean and standard deviation. The second part looks at comparing different waiting time, assessing the mean, median, mode and standard deviation and using a histogram as well as examining distribution. The last part of the paper examines time series data and makes a forecast before adding a trend line to a graph. The bibliography cites 3 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEanal01.rtf
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Unformatted sample text from the term paper:
the levels of the scale, there are no sales below 80 so we will start the Y axis with 80, as the highest level anywhere the 110 we will have
the highest scale of 110. so the Y scales are the same. The x scales cannot be changed, these are the day numbers on which the sales took place. We
can now compare the results more easily with the same scales. Looking at these there too appear to be different patterns, the knee level
appears to be lower, the eye level and waist level both jump around but appear to vary day by day, but look more similar. All appear to give a general
trail off towards days 5 6 and 7, with eye and waist level showing an increase in day 8. b.) If we want to test that the levels are
sales are statistically the same then we need to undertake a significance test. The first aspect here is to test if there is a difference. We have been told to
use p-values here, to test significance however, we could also use a chi squared test. The first stage is to develop an hypothesis. If the sales are the same
in all locations they should all have the same average. If we take the average daily sales over the entire population we get a sales figure of 96. So we
can test the hypothesis that with a 95% level of certainty, the average sales per in each store would be 96. The null hypothesis is that this changes and the
average level of sales with a 95% level of certainly is not 96. To test this we need to calculate the z score and compare it to the critical
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