## Descriptive statistics analysis

**Conduct **the following descriptive statistics analysis using the data set in attached Excel. Answer the questions in the spreadsheet or a separate Microsoft Word document.

**Insert **a new column in the database that corresponds to *AnnualSales*. *AnnualSales *is the result of multiplying a restaurants *SqFt *by *Sales/SqFt*.

**Calculate **the following:

- mean
- standard deviation
- skew
- 5-number summary
- interquartile range (IQR) for each of the variables

**Create **a box-plot for the *AnnualSales *variable and answer the following questions:

- Does it look symmetric?
- Would you prefer the IQR instead of the standard deviation to describe this variables dispersion? Why or why not?

**Create **a histogram for the *Sales/SqFt* variable and answer the following questions:

- Is the distribution symmetric? If not, what is the skew?
- Are there any outliers? If so, which one(s)?
- What is the
*SqFt*area of the outlier(s)? Is the outlier(s) smaller or larger than the average restaurant in the database? What can you conclude from this observation? - What measure of central tendency is more appropriate to describe
*Sales/SqFt*? Why?

**Cite **references to support your assignment.

**Part 2: Report**.

**Write** a minimum 1,000-word statistical report with the following sections:

- Section 1: Scope and Descriptive Statistics
- Section 2: Analysis
- Section 3: Recommendations and Implementation

**Section 1: Scope and Descriptive Statistics**

- State the reports objective.
- Discuss the nature of the current database. What variables were analyzed?
- Summarize your descriptive statistics findings from Part 1. Use a table and insert appropriate graphs.

**Section 2: Analysis**

Using Microsoft Excel, create scatter plots and display the regression equations for the following pairs of variables:

- BachDeg% versus Sales/SqFt
- MedIncome versus Sales/SqFt
- MedAge versus Sales/SqFt
- LoyaltyCard(%) versus SalesGrowth(%)

In your report, include the scatter plots. For each scatter plot, designate the type of relationship observed (increasing/positive, decreasing/negative, or no relationship) and determine what can be concluded from these relationships.

**Section 3: Recommendations and Implementation**

- Based on your findings above, assess which expansion criteria seem to be more effective. Is there any expansion criterion that could be changed or eliminated? If so, which one and why?
- Based on your findings above, does it appear as if the loyalty card is positively correlated with sales growth? Would you recommend changing this marketing strategy?
- Based on your previous findings, recommend marketing positioning that targets a specific demographic. (Hint: Are younger people patronizing the restaurants more than older people?)
- Indicate what information should be collected to track and evaluate the effectiveness of your recommendations. How can this data be collected? (Hint: would you use survey/samples or census data?)

**Cite** references to support your assignment.

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