Statistics Project Part a

In: Business and Management

Submitted By Grantb36
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Course Project Part A

Math 533
Keller Graduate School of Management
Sept. 13, 2013

The purpose of this report is to provide feedback to AJ Davis Department Store so that they will have a better understanding of the makeup of their customer. This report will utilize three of the five customer variables that were determined by AJ Davis. The variables that were used for this study were: Income, location, credit balance, family size, and years at current household. Using these variables I will show how there may or may not be correlations between some variables and not others. Also, numerical descriptions will be used to show mean income, minimum and maximum credit balances, and family size just to give a few examples. Now that we have established a basis for this report let’s look at the analysis of the data.

The first information we are going to discuss is customer income. Here is a statistical description of the income of all 50 of the customers that were sampled for this report.
Descriptive Statistics: INCOME ($1000)

Variable N Mean StDev Minimum Q1 Median Q3
INCOME($1000) 50 43.48 14.55 21.00 30.00 42.00 55.00

Variable Maximum
INCOME($1000) 67.00

The information above shows that the average income of the customers at AJ Davis is $43,480 per year given the 50 customers who were sampled. It also shows us that 25% of the customers that were sampled have an income of #30,000 or less and 75% of their customers make $55,000 or less. This is valuable information to AJ Davis because it gives them an idea of how to price their items in accordance with the income of their customers. Next let’s look at a graphical depiction of the income of AJ Davis customers.

The histogram of Income shows that the income of shoppers at AJ’s is quite varied from a minimum of $21,000 to a maximum of $67,000. It also…...

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