You are a consultant who works for the Diligent Consulting Group. In this Case, you are engaged on a consulting basis by Loving Organic Foods. In order to get a better idea of what might have motivated customersâ€™ buying habits you are asked to analyze a customer database. You realize the database is still incomplete, so you recontact these customers and collect additional information. The database now includes â€œAnnual Amount Spent on Organic Food,â€ â€œAge,â€ â€œAnnual Income,â€ â€œNumber of People in the Household,â€ and â€œGender.â€
Using Excel, generate descriptive statistics for these new variables: â€œAnnual Income,â€ â€œNumber of People in the Household,â€ and â€œGender.â€
You have much more information about the customers than you did in the Module 1 Case. After you have reviewed the results generated above, write a report to your boss that briefly describes the results that you obtained. Please include the following in your report:
- The descriptive statistics you generated.
- Your interpretation of the descriptive statistics and any visual displays or other tools you used to analyze the data.
- Your recommendation on how this new data might be used for marketing purposes.
- Comment on whether this new recommendation is different than the one you provided in the Module 1 case. If so, explain why it is different.
- Compare your statistical results from the new variables with those of the industry.
- Lastly, your client argues that the amount of money spent on organic food is the same for females and males. You decide to test this at the Î± = 0.10 level, using a two-sample hypothesis test. You donâ€™t know the population standard deviation, but you assume they are the same. Run this test in Excel and interpret the results. Can you support your clientâ€™s claim?