A national distributor of \"Eagle\" brand snacks is attempting to develop a mode
ID: 3135414 • Letter: A
Question
A national distributor of "Eagle" brand snacks is attempting to develop a model to explain sales of their product. To do so, data have been gathered on monthly sales (measured in hundreds of dollars) from its many marketing areas. From these, sixty observations have been selected at random. The variables in the data set are in columns, one observation per line (row). The first column is variable number 1, the second is variable number 2, etc.
117.9 47.7 42.2 0.80 2.77 2.62 C
79.6 52.8 42.4 0.83 2.90 2.78 A
70.9 53.1 39.2 0.72 2.98 2.88 B
98.4 52.1 44.0 0.68 2.81 3.10 B
103.8 54.5 40.3 0.75 2.75 2.53 A
69.9 51.3 35.7 0.73 2.89 2.13 B
75.4 49.1 40.8 0.79 3.07 2.14 A
73.7 50.0 37.8 0.71 2.78 2.08 D
142.1 53.2 44.0 0.73 2.76 3.00 C
124.3 54.1 44.7 0.74 2.06 2.91 B
102.3 50.5 43.9 0.70 2.57 2.98 D
83.2 44.2 39.1 0.73 2.74 3.14 D
100.4 53.8 35.3 0.74 2.69 3.03 C
141.4 59.4 42.0 0.78 2.59 3.24 C
80.5 46.4 41.0 0.73 3.00 2.71 D
71.1 50.7 35.2 0.72 2.69 3.10 D
134.1 56.7 41.4 0.74 2.42 2.02 D
110.3 54.1 41.3 0.78 2.29 3.30 B
85.2 50.1 41.3 0.78 2.94 3.42 D
83.7 44.1 41.5 0.73 2.73 2.55 A
62.9 50.5 36.3 0.80 2.96 2.02 B
85.0 47.5 41.7 0.75 2.62 3.30 B
60.5 50.5 37.8 0.81 3.13 2.65 B
113.1 57.0 42.5 0.80 2.56 1.97 D
97.6 46.2 41.2 0.79 2.50 1.74 A
104.7 50.9 37.7 0.76 2.40 2.44 C
61.1 58.0 35.6 0.80 2.97 2.15 A
72.7 60.7 35.3 0.75 2.66 2.87 A
82.5 44.0 44.4 0.74 2.81 2.78 B
129.0 50.5 44.3 0.72 2.27 2.64 C
106.8 44.2 40.6 0.77 2.44 2.10 C
75.3 49.9 39.8 0.72 3.25 1.79 D
101.9 56.5 40.3 0.86 2.68 2.39 A
105.9 50.2 44.9 0.74 2.90 2.35 D
86.1 45.7 37.0 0.69 2.72 1.59 B
103.1 45.8 37.2 0.75 2.63 2.00 C
100.0 44.9 44.1 0.78 2.88 2.28 C
95.8 50.5 35.7 0.70 2.75 3.21 B
90.8 42.3 39.0 0.75 3.02 2.05 C
81.6 52.6 42.4 0.78 2.86 3.49 D
100.1 43.1 44.8 0.75 2.59 2.82 B
92.2 44.9 38.3 0.71 2.55 1.74 B
68.6 50.9 38.2 0.75 2.58 3.13 A
99.5 54.6 39.4 0.72 2.87 3.29 D
112.2 50.1 39.5 0.76 2.69 3.03 C
93.7 51.1 41.7 0.80 2.62 2.01 A
96.0 58.7 38.2 0.77 2.53 2.84 B
119.9 50.2 40.4 0.76 2.68 1.62 C
98.9 55.0 36.7 0.78 2.52 2.81 D
91.9 53.1 39.3 0.75 3.03 2.44 B
99.6 47.6 43.3 0.80 2.71 2.57 D
80.5 49.8 41.0 0.74 3.07 2.95 B
101.2 47.5 36.1 0.77 2.81 2.82 C
80.4 50.2 45.0 0.75 3.04 1.61 A
90.1 58.6 36.3 0.64 3.00 1.53 D
79.6 58.2 38.2 0.77 2.90 2.45 A
77.9 50.6 37.2 0.80 2.80 3.31 B
111.7 50.7 42.7 0.75 2.17 3.25 A
81.2 49.0 38.8 0.67 2.79 2.45 A
82.7 54.7 39.0 0.72 2.91 1.89 D
The data reported in the data set are as follows:
Variable #1 = Monthly sales in thousands of dollars per marketing area.
This is the variable in which the company is primarily interested. They would like to determine what factors have an effect on their sales. They would also like to be able to predict sales based upon these factors, once they are identified. This variable will be the dependent variable in your analyses.
The company has also identified several potential explanatory factors that may have an effect on Eagle Chip sales. These are identified below and available in your data set. Variables 2 through 6 are quantitative high-level measurements. Variable 7 is qualitative having four nominal levels identified below.
Variable #2 = Promotional budget for the sales area, in thousands of dollars.
3 = Median family income in the sales area, in thousands of dollars.
4 = Product recognition index, proportion of respondents to a marketing survey in the market
district that recognized the Eagle brand name (reported as a decimal value).
5 = Average retail price of product in dollars.
6 = Average retail price of leading competitor brand in dollars.
7 = A coded variable representing the advertising method employed in the sales area.
There are four levels of this categorical variable labeled A, B, C, and D as follows:
A = Sports Magazine only
B = Radio Sport Show Ads
C = TV Sports Show Ad
D = TV General Advertising
Download your data set, import your data set into Excel, label your variables, and save your Excel file.
The company is primarily interested in developing a model to explain and predict sales. Company sales (variable number 1) will be your dependent variable in these analyses.
Part A.
Provide summary descriptive statistics for company sales.
Part B.
The company is interested in determining which, if any, of the advertising methods used might lead to the highest average sales level and has asked you to do the analysis to provide this information. It will be possible to make this determination since each observation in the sample was generated using only one of the four advertising methods.
Perform an analysis of variance on Excel as demonstrated in class using Sales (variable number 1) as the dependent variable and Advertising Method (variable 7) as the explanatory variable. For step-by-step instructions on how to do the ANOVA on Excel see: http://econ.clarion.edu/econ222/excel/ExcelAnova.htm.
Present your ANOVA results from your Excel printout using a “cut and paste” or screen capture method and respond to the following:
Specify the null and alternative hypotheses for the F-test for this model.
Report the critical value of the test statistic -or- interpret the p-level for this test.
State your conclusion regarding the test result.
Interpret your finding; in particular, make certain that you respond to the company’s inquiry.
Explanation / Answer
Part A
summary descriptive statistics for company sales is
Part B
The null hypothesis is means are equal
alternative hypothesis is means are not equal
Column1 Mean 93.70833 Standard Error 2.443699 Median 92.95 Mode 79.6 Standard Deviation 18.92881 Sample Variance 358.2998 Kurtosis 0.134522 Skewness 0.56069 Range 81.6 Minimum 60.5 Maximum 142.1 Sum 5622.5 Count 60 Confidence Level(95.0%) 4.889829Related Questions
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