CONSOLIDATED FOODS
Case Problem 1: CONSOLIDATED FOODS, INC.
Consolidated Foods operates a chain of supermarkets in three cities. A promotional campaign has advertised the chain’s offering of a credit card policy whereby Consolidated Foods’ consumers have the option of paying for their purchases with credit cards, such as Visa and Master Card, in addition to the usual options of cash or personal check (cheque). The policy is being implemented on a trial basis with the hope that the credit card option will encourage customers to make larger purchases.
After the first month of operation, random sample of 100 customers was selected over a one-week period. Data were collected on the method of payment of how much was spent by each of the 100 customers. The sample data are shown in attached Excel File .
Prior to the new credit card policy, approximately 50% of Consolidated Foods’ customers paid in cash and approximately 50% paid by personal check.
Managerial Report
Use the tabular and graphical methods of descriptive statistics to summarize the sample data. Your report should contain summaries such as the following:
1. A frequency, relative frequency & percentage frequency distribution for the method of payment.
2. A bar graph or pie chart for the method of payment
3. Frequency and cumulative frequency distributions for the amount spent in each method of payment
4. Ogive for the amount spent in each method of payment
What preliminary insights do you have about the amounts spent and method of payment at Consolidated Foods, Inc.?
Use the numerical methods of descriptive statistics to summarize the sample data. Provide summaries of the rupee purchase amounts for cash customers, personal check customers, and credit card customers separately. Your report should contain the following summaries and discussions.
1. A comparison and interpretation of means, medians & quartiles
2. A comparison and interpretation of measures of variability such as the range, IQR,
Consolidated Foods operates a chain of supermarkets in three cities. A promotional campaign has advertised the chain’s offering of a credit card policy whereby Consolidated Foods’ consumers have the option of paying for their purchases with credit cards, such as Visa and Master Card, in addition to the usual options of cash or personal check (cheque). The policy is being implemented on a trial basis with the hope that the credit card option will encourage customers to make larger purchases.
After the first month of operation, random sample of 100 customers was selected over a one-week period. Data were collected on the method of payment of how much was spent by each of the 100 customers. The sample data are shown in attached Excel File .
Prior to the new credit card policy, approximately 50% of Consolidated Foods’ customers paid in cash and approximately 50% paid by personal check.
Managerial Report
Use the tabular and graphical methods of descriptive statistics to summarize the sample data. Your report should contain summaries such as the following:
1. A frequency, relative frequency & percentage frequency distribution for the method of payment.
2. A bar graph or pie chart for the method of payment
3. Frequency and cumulative frequency distributions for the amount spent in each method of payment
4. Ogive for the amount spent in each method of payment
What preliminary insights do you have about the amounts spent and method of payment at Consolidated Foods, Inc.?
Use the numerical methods of descriptive statistics to summarize the sample data. Provide summaries of the rupee purchase amounts for cash customers, personal check customers, and credit card customers separately. Your report should contain the following summaries and discussions.
1. A comparison and interpretation of means, medians & quartiles
2. A comparison and interpretation of measures of variability such as the range, IQR,