The Statistical Method Used in the Analysis of the Two Markets, Classi Statistics Project

Essays on The Statistical Method Used in the Analysis of the Two Markets, Classification of the Variables Used in the Analysis Statistics Project The paper â€Å"The Statistical Method Used in the Analysis of the Two Markets, Classification of the Variables Used in the Analysis† is a  forceful version of statistics project on marketing. This paper discusses the differences and similarities between the friendly market characteristics and circle K. it uses descriptive data in explaining the market characteristics. Some of the major descriptive statistics elements used include;MeanMedianMaximumMinimumStandard deviationSkewnessKurtosisJarque-BeraProbabilitySumSum Sq. Dev1.1Nominal variables include;Sex that is;Malefemale1.2Ordinal, variableFriendlyNo one1.3Interval variableHurryBargain1.4Ratio scalesCashWorkQuickCommute circle1.5Descriptive statistics  BERGAINCASHCIRCLEKCOMMUTEDWELLFRIENDLYHURRYKNOWNEQUICKSEXWORK  Mean  2.842105  2.157895  0.631579  0.631579  1.631579  0.631579  1.526316  2.368421  1.894737  1.631579  1.684211  Median  3.000000  2.000000  1.000000  1.000000  2.000000à ‚  1.000000  1.000000  3.000000  2.000000  2.000000  1.000000  Maximum  3.000000  3.000000  1.000000  1.000000  2.000000  1.000000  3.000000  3.000000  3.000000  2.000000  3.000000  Minimum  2.000000  1.000000  0.000000  0.000000  1.000000  0.000000  1.000000  1.000000  0.000000  1.000000  1.000000  Std. Dev.  0.374634  0.764719  0.495595  0.495595  0.495595  0.495595  0.696692  0.830698  0.737468  0.495595  0.820070  Skewness-1.876388-0.263044-0.545545-0.545545-0.545545-0.545545  0.917354-0.764584-0.695391-0.545545  0.627845  Kurtosis  4.520833  1.837400  1.297619  1.297619  1.297619  1.297619  2.633256  1.951953  3.824315  1.297619  1.845180  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  12.98038  1.289155  3.236790  3.236790  3.236790  3.236790  2.771351  2.720766  2.069235  3.236790  2.304041  Probability  0.001518  0.524884  0.198217  0.198217  0.198217  0.198217  0.250155  0.256563  0.355362  0.198217  0.315998  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Sum  54.00000  41.00000  12.00000  12.00000  31.00000  12.00000  29.00000  45.00000  36.00000  31.00000  32.00000  Sum Sq. Dev.  2.526316  10.52632  4.421053  4.421053  4.421053  4.421053  8.736842  12.42105  9.789474  4.421053  12.10526  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Observations  19  19  19  19  19  19  19  19  19  19  192.Customer characteristicsDo Friendly Market and Circle K have the same customers?Both the Friendly market and Circle K market have different customers as they comprise both male and female with the same age sex and group. From table 1.0 the probability of Circle customers going to shopping is 0.00151 and that of the friendly market is 0.198217 showing that the possibility or stack up the rate of friendly customers is more predictable compared to those of the Circle market.3.Demographic characteristicsWhat is the demographic profile associated with Friendly Market’s customers?The friendly markets are composed of both women and men. The mean of both sexes is 1.631579 giving a chance that both genders must have been in equal proportion. The standard deviation is 0.495595 showing the level of dispersion of the two groups of the markets.4. What is the demographic profile associated with Circle K’s customersThe demographic profile of the Circle K’ customers is mainly composed of both sexes at an equal level. The dwelling of the customers is from a middle background similar to those of friendly markets. Both work but at the different levels are presented on the above graphs.4.1. Customer lifestyleWhat is the lifestyle profile associated with Friendly Market’s customers?Individual lifestyle is reflected in the way an individual way of thinking, acting, and feeling. The buying patterns, the sp ending pattern and the nature of work one does. The customers of the friendly market are characterized by a high spending lifestyle comprising. The mean spending is 0.631579 which shows average lifestyle spending while the maximum and minimum are 1 .0 and 0.0 respectively while the median gives 1.0. This shows a high end spending patterns within friendly market customers.5.ConclusionThroughout the analysis, one common characteristic of both markets is that they are composed of high-end spending individuals which have common characteristics. This is well captured in the skewness of the data and the kurtosis. The demographic patterns are similar to the equal number of males and females purchasing the two markets product.