"Has been a lifesaver so many times!"
- Catherine Rampell, student @ University of Washington
"Exactly the help I needed."
- Jennifer Hawes, student @ San Jose State
"The best place for brainstorming ideas."
- Michael Majchrowicz, student @ University of Kentucky
As the manager of Ice-Vanilla stores, I will give a statistical report to show the indicators of sales force including the recent promotional program. The purpose of this report is to analyze data collected on Ice-Vanilla stores to help the CEO know more about his customers. In addition, the report can also help the board make decision to seek more revenues in the future.
Classification of variables:
Scale of measurement
Type of Variable
Type of customer
Method of payment
(Table 1: Types of Variable)
As you can see from Table 1, there are five types of qualitative which are type of customer, method of payment, gender, marital status and state. Net sales and age are known as both quantitative and continuous types, furthermore, they are also ratio scales. Other data are all nominal scales and non-numeral variables.
Type of data collected
These data of Ice-vanilla store are cross-sectional data. Cross-sectional data are data widely dispersed relating to one period or without respect variance due to time. In contrast, time series data is drawn from regularly spaced intervals (BusinessDicationary, 2017). It includes different statistical units. The data of Ice-vanilla store are not based on a period of time, it based on a fixed number of customers. Other indicators and statist units are all match to the definition of cross-sectional data. Thus, the data of Ice-vanilla store belongs to cross-sectional data.
Descriptive statistics for net sales:
The following table will show you the data of net sales in Ice-vanilla store. The table will be divided into five parts which are mean, median, mode, standard deviation and coefficient of variance. Firstly, the average net sales are 138.56. The median number of net sales are 118.38. The standard deviation of net sales is 71.05. The coefficient of variance is 51.27%.
Coefficient of Variance
(Table 2. Descriptive Statistic for Net Sales)
The table of Gender and Marital Status
The following table shows that the majority of customers are male. There are 137 males in the total of 200 customers. Males occupies 56.6% and females occupies 43.5% in this sample. It is not a difference in number of males and females.
(Table 3. The Frequency Table of Gender Distribution)
Another table shows the customers are single or married. As you can see from the following table, the number of customers who are married are much more than the single customers. The married customers are 61.5% in total and the single customers are only 38.5%. It is a big difference between single and married customers. Under this situation, Ice-vanilla should produce more styles for people who are getting married to meet their needs then seek more revenue, such as couple shirts, elder fashion styles etc.
(Table 4. The Frequency Table of Marital Status)
Correlation coefficient of age and net sales
(Table 5. Correlation Coefficient of Age and Net Sales)
Table 5 can directly show you the result of the correlation coefficient of net sales and age. The number is positive but very closed to 0. Base on the statistic result, it approves that the relationship between net sales and age is not a strong link. So that there are other factors or elements that impact the net sales.
Comparisons between types of credit cards used
(Table 6. Types of Credit Cards Used)
As you can see from the table 6, there are five kinds of credit cards used in Ice-vanilla which are AMEX, Priority Club Card, MasterCard, Visa and American Express. 122 of 200 people would like to use Priority Club Card that is 60% in total. MasterCard is the second one. The least number of card used is American Express that is only 2 customers. People who received promotional code are mostly using Priority Club Card of Ice-vanilla store. Ice-vanilla store used a good strategy to encourage people to hold a Priority Club Card by offering promotional codes.
Types of customers
(Table 7. Types of Customers)
The VIP customers are much more than regular customers. The number of VIP customers are 147 which is more than 70% in total of 200 customers. It easy to explain the reason of the customers are most from VIP users. VIP gives discount or promotional code, so that customers who has VIP card are willing to come back to buy more. Those shows that VIP
View Full Essay