Descriptive Statistics and Plan Strategies Upcoming Sales Season - Statistics Assignment Help

Assignment Task

Question 1

Find the value of average sales obtained by BestStyle. Also, find and compare with average sales of stores in tier 1 and tier 2 cities.

Question 2

Affluent locations record better sales, as they have more potential customers. If any store’s location with a community income level higher than ?80,000 can be considered affluent, then identify the difference between the average sales in affluent stores and that in the non-affluent stores. Also, what is the percentage of sales that is constituted by the affluent stores?

Question 3

Beststyle plans to conduct an “end-of-summer” sale in September. To advertise the offers of the upcoming sale, the marketing team wants to launch a nation-wide campaign. They wants to run a country-wide marketing campaign. The marketing strategist believes that an understanding of customer attributes is the key to a successful campaign. One such useful attribute is ‘customer education level’. Suggest an appropriate education level that can be used to target maximum locations through the campaign.

Question 4

Suppose in the campaign customers are not categorised by ‘education level’, rather by ‘age group’. The management of BestStyle believes that most of the customers are in the age group of 35–49 years. Suppose the age of the customers is normally distributed, with a mean of 42 years and a standard deviation of 3.5 years. What is the percentage of customers that falls between 35 and 49 years? List the steps of your working.

Question 5

In a recent meeting with the customer feedback team, they reported some customers feel the prices of clothes at BestStyle are more volatile in comparison to its competitors. Are the customers right in feeling so? State the statistic you will use to answer this question and present your calculations in R. Also, comment upon the merits or demerits of volatility of prices.

Question 6

Describe and compare the advertising budget of BestStyle in mall vs non-mall stores. Use R for calculations and share your R-script. Also, comment upon the advantage or disadvantage of having a store in mall. 

Question 7

Write an R code to plot a histogram illustrating the frequency distribution of the prices of clothes in the stores. Make sure to include the following in your R script:
The title of the plot as 'Frequency Distribution of Price charged by BestStyle'
The axes labelled as 'Frequency' and 'Price of Clothes'
 

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