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Statistical Analysis on Pelican Stores
Recently, most of the business people are opening up sub branches of the main stores, making the investment plan to be a kind of a chain which is answerable to an overall manager or the main store. Pelican store happens to be one of those kinds of chain stores, whereby it operates with other branches in different places but dealing with the same commodity. Due to increased competition between firms dealing with female clothes, Pelican stores decided to stand out and give promotions and offers to the customers who occasionally visited any of the branches (Palcic. 68)
In order to plan well on how to give the coupons to the customers, the management decided to do a thorough research and analysis of how the customers visited the shops, how much they spent on different clothes, their age and lastly the mode of payment most of the clients preferred. The shops are currently encouraging clients to use their own cards for payment, a card known as proprietary card. Different awards were set aside for all categories of purchases made, proprietary payment method being valued higher for the benefit of the stores. For the management to make a good arrangement on the promotion, the following data was obtained based on how customers visited one of major stores, and a clear arithmetical analysis was carried out.
Customer Type of Customer Gender Age Marital status No of clothes purchased Mode of payment Total Sales in dollars
1 Regular Male 30 Married 1 Proprietary card 15
2 Regular Male 23 Single 1 Visa card 17
3 Promotional Male 27 married 2 Visa card 56
4 Regular Female 25 Single 3 Cash 76
5 Promotional Male 34 Married 5 Cash 150
6 Promotional Female 45 Married 3 Proprietary card 70
7 Promotional Male 23 Married 5 Visa card 105
8 Promotional Male 57 Married 3 Visa card 60
9 Regular Male 36 Single 2 Cash 45
10 Regular Female 34 Single 5 Proprietary card 140
11 Promotional Female 40 Married 6 Visa card 200
12 Regular Male 23 Single 3 Cash 67
13 Promotional Female 40 Married 5 Cash 178
14 Regular Male 43 Married 3 Visa card 76
15 Promotional Female 47 Single 5 American Express 105
16 Promotional male 52 Married 6 Visa card 167
17 Regular Male 34 Married 3 Proprietary card 146
18 Regular Female 28 Single 2 Cash 36
19 Promotional Male 27 Single 3 Master card 76
20 Regular Male 29 Single 5 Visa card 100
21 Promotional Male 28 Single 1 Proprietary card 24
22 Regular Female 20 Single 1 Visa card 18
23 Regular Male 21 Single 3 Visa card 70
24 Promotional Female 24 Single 1 American express16
25 Promotional Female 22 Single 4 Visa card 80
26 Regular Female 33 Married 2 Visa card 43
27 Regular Female 34 Married 1 Master card 17
28 Promotional Male 28 Single 1 Master card 17
29 Promotional Female 36 Married 4 Master card 67
30 Regular Male 26 Single 1 Cash 16
31 Promotional Female 33 Single 2 Visa card 32
32 Regular Female 36 Married 1 Cash 28
33 Promotional Male 34 Married 1 Proprietary card 22
34 Regular Male 31 Single 3 Proprietary card 56
35 Promotional Female 22 Single 2 Visa card 36
36 Promotional Male 21 Single 3 Proprietary card 90
37 Regular female 20 Single 4 Visa card 106
38 Regular Female 19 Single 3 Cash 110
39 Promotional Female 22 Single 4 Cash 98
40 Regular Male 23 Single 3 Visa card 76
41 Regular Female 38 Married 3 Visa card 90
41 Promotional Female 22 Married 3 Master card 100
42 Regular Female 37 Married 4 Visa card 178
43 Regular Male 53 Married 1 Proprietary card 14
44 Regular Female 18 Single 2 Visa card 40
45 Regular Male 16 Single 6 Cash 156
46 Promotional Female 26 Single 4 Master card 105
47 Regular Female 43 Married 7 American express234
48 Promotional Male 34 Married 3 Visa card 56
49 Regular Female 55 Married 1 Proprietary card 24
50 Regular Female 24 Single 4 Master card 84
Analysis Report on Recorded Data
Mean
Mean is described as the average assessment of any figures, where in our case, the management of pelican stores decided to work out the average number of customers who visit the outlet in a day, the average number of clothes bought and the average income expected by the shop in a single day.
Mean of clothes purchased
Number of clothes purchased 124
No of customers 50
Average clothes bought by one customer 124÷50
2.48 Which means an average of 2 clothes per customer.
Average cost per customer
Total income 3984
Number of customers 50
3984÷50
$79.68
Standard deviation
To find the standard deviation for the total accumulated income,
Value from the accumulated cost- mean (average, then the figure is dived by the size of total population and the last figure is square rooted.
79.68-50
29.68
29.68×29.68
880.9 Where the square root is
29.67
3. ANOVAs
The management, by use of the above data was able to determine the different modes of payment done by their customers and how they affected the sales through promotion. In our case here, customers who used proprietary card as a mode of payment was rewarded with a coupon, hence an evaluation was done.
Method of payment Proprietary card Master card Visa card cash American Express
Number of customers 10 7 19 11 3
Analysis Findings
From the above table, it is evident that most of the clients used visa to pay for their clothes. The data collected here gives a reason as to why the promotion was not as successful as intended as less people used their own originated cards as means of payment (Romani, 67). Pelican stores had the plan of rewarding any customer who uses the proprietary card and from the figures above, it is clear that only ten customers out of the fifty were able to get the coupon. Lastly, I would recommend the promotion team to put more emphasizes on enlightening the people on the importance of using proprietary card in order to increase sales and reward their esteemed customers as well.
Works Cited
Palcic, I., and B. Lalic. “Analytical Hierarchy Process as a tool for selecting and evaluating projects.” International Journal of Simulation Modelling (IJSIMM) 8.1 (2009): 24-50
Romaní, Gianni, et al. “New trends on entrepreneurship research in Latin America and Caribbean countries: evidence from GEM and GUESSS projects–an analytical editorial.” Academia Revista Latinoamericana de Administración (2021): 65-78
