BUSINESS DATA ANALYSIS Essay Example | Topics and Well Written Essays - 2750 words

BUSINESS DATA ANALYSIS - Essay Example R., Sweeney, D. J. & Williams, T. A. (2008). Essentials of Modern Business Statistics (4th Edition). Ohio: South-Western Cengage. 19 Abstract The present paper discusses the way that HH Industries had been running their business over a year. It attempts to assess their trends in customer sales and orders received in addition to the way that their machines are functioning. The industry consists of three profit centers based in Florida, Arizona and Pennsylvania whose operations are being examined separately. Introduction The situation prevailing over HH Industries is examined in the present case. It tries to assess the summary statistics for variables such as customer purchases and sizes of order for all three component profit centers as well as the entire company. This is the way through which it attempts to examine the trends that the company is taking over time. Methods In order to attain the objectives of the paper, central tendency methods and probability distributions have been u sed with the help of MS-Excel. Results, Conclusions and Recommendations Answer to Question 1 a) The relative frequency distributions and histograms for the company’s daily average order size in the first and second quarters have been presented underneath – For Quarter 1 For Quarter 2 Histogram representing of the company’s daily average order size for Quarter 1 Histogram representing of the company’s daily average order size for Quarter 2 b) The following charts display the histograms representing daily total orders of the company, for each quarter. Frequency of the company’s daily orders around the 3rd quarter of 1990 Frequency of the company’s daily orders around the 4th quarter of 1990 Frequency of the company’s daily orders around the 1st quarter of 1991 Frequency of the company’s daily orders around the 2nd quarter of 1991 c) Each quarter is found to be displaying almost equivalent trends in terms of daily orders received by the company. During the 3rd quarter of 1990, the company’s daily orders had been quite high and uniformly distributed. This implies that the proximity in the location of mean, median and mode in this case. However, this uniformity is visible more for the lower amounts of orders in contrast to that of the 1st quarter of 1991 which shows uniformity for the higher orders. On the other hand, this consistency cannot be noted in the 4th quarter of 1990. The 2nd quarter of 1991 on the other hand displays a consistency in the number of orders received throughout the period. A possible conclusion which could be drawn from the above statements is that the people are instigated to purchase more frequently over the years gradually as the company attains more and more popularity with them. It might also be possible that the customers to the company have realized the higher expenditure involved in storing inventories which is why they have shifted towards making smaller purchases freque ntly. Answer to Question 2 a) The central tendency measures computed for the quarterly data on number of orders and average order size have been presented in the following table – Central Tendency Measures Quarter 3 of 1990 Quarter 4 of 1990 Quarter 1 of 1991 Quarter 2 of 1991 Daily orders Average order size Daily orders Aver