Assignment One: Application of Descriptive StatisticsSubject Title: Quantitative MethodsSubject Code: BAC21 AAssessment Title: Case Problem 1Assessment type: IndividualWeighting: 20%Due day: Week 5 (9th of June) 11.59pm AESTSubmission type: TurnitinFormat / Layout of Assessment:• Cover page• Introduction (summary of case)• Managerial report• Conclusion• References (if any)• Appendices (if any)Assessment instructions: Descriptive statistics are used to describesummarize thecharacteristics of a sample or data set; this type of statistics can help decision makersunderstand the collective properties of the elements of a data sample. Managers usedescriptive statistics to look at trends, understand relationships between numbers, and makesound business decisions.This assignment focuses on this type of statistics. Students are given a case (next page) anda data set (data for each student on excel sheet available on Moodle) to analyse and make amanagerial report.This assessment requires students to focus on the key learnings from the lectures ondescriptive statistics and how they apply to real-life situations. Case problem: Heavenly Chocolates Website TransactionsHeavenly Chocolate manufacturers and sells quality chocolate products at its plant and retailstores located in New York. Two years ago, the company developed a website and beganselling its products over the Internet. Website sales have exceeded the company’sexpectations, and management is now considering strategies to increase sales even further.To learn more about the website customers, a sample of 20 Heavenly Chocolate transactionswas selected from the previous month’s sales. Data shows the day of the week eachtransaction was made, the type of browser the customer used, the time spent on the website,the number of website pages viewed, and the amount spent by each customer.Managerial Report:Use the methods of descriptive statistics, students need to include the following in their report:1. Graphical and numerical summaries for the length of time the shopper spends on thewebsite, the number of pages viewed, and the mean amount spent per transaction.Discuss what you learn about Heavenly Chocolate’s online shoppers from thesenumerical summaries.2. Develop a scatter diagram and compute the sample correlation coefficient to explorethe relationship between the number of website pages viewed and the amount spentand discuss.
