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MA508 Business Statistics || Master of Professional Accounting

Question Preview:

Students are required to produce an individual assignment using the data provided. Data is available onMA508 Moodle shell in the folder named [Data set]. You need to use Business Statistics theory, concepts, tools and terminology that you have learnt from weeks 1 to 5 to analyse the data and to write up the assignment. Data set [ABZ-Customer & Sales data] is from a global corporation. The business sells categories of products including DVD, CD, and books which include Classical, Novel, Politics, and bestsellers. The main challenges in the business are profit, and decreasing sales...

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Question Preview:

Students are required to produce an individual assignment using the data provided. Data is available onMA508 Moodle shell in the folder named [Data set]. You need to use Business Statistics theory, concepts, tools and terminology that you have learnt from weeks 1 to 5 to analyse the data and to write up the assignment. Data set [ABZ-Customer & Sales data] is from a global corporation. The business sells categories of products including DVD, CD, and books which include Classical, Novel, Politics, and bestsellers. The main challenges in the business are profit, and decreasing sales. Using statistical theory and application (LAB practices) and the dataset provided, answer the main research questions. Also, answer any other research questions that are meaningful to you.

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Solution Preview

ABZ Ltd. Is a global corporation dealing in categories of products including DVD, CD andBooks which includes Politics, novels, classical and best-sellers? The company is dealing with diverse customers from different age groups, gender, area, marriage status, etc.

A company always aims to achieve sustainable growth by achieving its target sales at optimal prices to maximize the profit margin and market share simultaneously. For ABZ Ltd. the data is analysed to understand the behaviour of customers and sales. Measures such as mean, range, probabilities, etc. are used in the study and also various graphs and tables are studied to support the recommendations. The analysis is to achieve more profit and sales for ABZ Ltd.

Any single value that explains the set of data by identifying the central position within that set of data is called central tendency. They are also known as a summary statistic. Mean is one of the methods to calculate the central tendency. it is also known as average.

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