Math533 Project Part A Essay

1062 words - 5 pages

MATH533: Applied Managerial Statistics Course project – part A
I. Introduction. AJ DAVIS is a department store chain, which has many credit customers and wants to find out
more information about these customers. A sample of 50 credit customers is selected with data
collected on the following five variables:
1. Location (Rural, Urban, Suburban)
2. Income (in $1,000’s)
3. Size (Household size)
4. Years (the number of years that the customer has lived in the current location)
5. Credit balance (the customers current credit balance on the store’s credit card, in $)
II. Individual variables. 1. Location
Tally for Discrete Variables: Location
Location Count Percent Rural 13 ...view middle of the document...

Because the median is less than the mean, distribution is skewed to the right. This means the
bigger portion of customers have an income under the rest of customers. However, this
difference is not much.
3. Credit balance
Descriptive Statistics: Credit Balance($)
Total Variable Count Mean StDev Minimum Q1 Median Q3 Maximum Credit Balance($) 50 3970 932 1864 3109 4090 4748 5678
Variable Range Credit Balance($) 3814
60005 0004 0003 0002 000
14
12
10
8
6
4
2
0
Credit Balance($)
Frequency
Mean 3970 StDev 931.9 N 50
Histogram (with Normal Curve) of Credit Balance($)
Interpretation: The range of customer’s credit balance is $3814, with the highest credit balance at
$5678 and the lowest at $1864. The mean (average) credit balance of a customer is $3970. The
median credit balance is $4090. We can see distribution is skewed to the left because the median
is more than the mean. Look at the histogram, we can see that a bigger portion of cardholders
carry an approximate $4000 balance. This means that a greater number of customers have a
credit balance in this range.
III. Relationships
1. Location and Income
Descriptive Statistics: Income ($1000)
Total Variable Location Count Mean StDev Minimum Q1 Median Q3 Income ($1000) Rural 13 33.69 7.79 22.00 28.50 31.00 39.50 Suburban 15 50.67 15.26 22.00 39.00 54.00 63.00 Urban 22 44.95 14.56 21.00 32.75 48.00 55.00
Variable Location Maximum Range Income ($1000) Rural 50.00 28.00 Suburban 67.00 45.00 Urban 67.00 46.00
Look at the above table we can see the difference in income regarding the location of customers.
The means indicate the average income of each area the Rural, Suburban and Urban. We can also
observe the difference in average income of the three areas and suburban area has the biggest
average income with $50,670. In suburban and urban areas, customers have the highest income
with $67,000. Therefore, AJ DAVIS should target customers in these areas.
2. Location and Size
Tabulated statistics: Location, Size
Rows: Location Columns: Size
1 2 3 4 5 6 7 All
Rural ...

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