Descriptive Statistical Analysis Paper

Assignment DirectionsRead the scenario, part 1, part 2, and the rubric before beginning your assignment.ScenarioPastas R Us, Inc. is a fast-casual restaurant chain specializing in noodle-based dishes, soups, and salads. Since its inception, the business development team has favored opening new restaurants in areas (within a 3-mile radius) that satisfy the following demographic conditio ns: Median age between 25 and 45 years old Household median income above national average At least Last year, the marketing department rolled out a loyalty card strategy to increase sales. Under this program, customers present their loyalty card when paying for their orders and receive some free food after making 10 purchases.The company has collected data from its 74 restaurants to track important variables such as average sales per customer, , sales per sq. ft., loyalty card usage as a percentage of sales, and others. A key metric of financial performance in the restaurant industry is annual sales per sq. ft. For example, if a 1,200 sq. ft. restaurant recorded $2 million in sales last year, then it sold $1,667 per sq. ft.Executive management wants to know whether the current expansion criteria can be improved; evaluate the effectiveness of the loyalty card marketing strategy; and identify feasible, actionable opportunities for improvement. As a member of the analytics department, youve been assigned the responsibility of conducting a thorough statistical analysis of the companys available database to answer executive managements questions.Part 1: Descriptive Statistics AnalysisConduct the following descriptive statistics analyses using the Pastas R Us, Inc. data set in Microsoft Excel. Answer the questions in the spreadsheet or a separate Microsoft Word document.Insert a new column in the database that corresponds to AnnualSales. AnnualSales is the result of multiplying a restaurants SqFt by .Calculate the following: mean standard deviation skew 5-number summary interquartile range (IQR) for each of the variablesCreate a box-plot for the AnnualSales variable and answer the following questions: Does it look symmetric? Would you prefer the IQR instead of the standard deviation to describe this variables dispersion? Why or why not?Create a histogram for the and answer the following questions: Is the distribution symmetric? If not, what is the skew? Are there any outliers? If so, which one(s)? What is the SqFt area of the outlier(s)? Is the outlier(s) smaller or larger than the average restaurant in the database? What can you conclude from this observation? What measure of central tendency is more appropriate to describe Sales/SqFt? Why?Cite references to support your assignment.Part 2: ReportWrite a 750- to 1,000-word statistical report with the following sections: Section 1: Scope and Descriptive Statistics Section 2: Analysis Section 3: Recommendations and ImplementationSection 1: Scope and Descriptive Statistics State the reports objective. Discuss the nature of the current database. What variables were analyzed? Summarize your descriptive statistics findings from Part 1. Use a table and insert appropriate graphs.Section 2: Analysis Using Microsoft Excel, create scatter plots and display the regression equations for the following pairs of variables:o BachDeg% versus Sales/SqFt o MedIncome versus Sales/SqFt o MedAge versus Sales/SqFt o LoyaltyCard(%) (%) In your report, include the scatter plots. For each scatter plot, designate the type of relationship observed (increasing/positive, decreasing/negative, or no relationship) and determine what can be concluded from these relationships.
Section 3: Recommendations and Implementation Based on your findings above, assess which expansion criteria seem to be more effective. Is there any expansion criterion that could be changed or eliminated? If so, which one and why? Based on your findings above, does it appear as if the loyalty card is positively correlated with sales growth? Would you recommend changing this marketing strategy? Based on your previous findings, recommend marketing positioning that targets a specific demographic. (Hint: Are younger people patronizing the restaurants more than older people?) Indicate what information should be collected to track and evaluate the effectiveness of your recommendations. How can this data be collected? (Hint: would you use survey/samples or census data?)Cite references to support your assignment.

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