You are the manager of a retail store. You want to investigate how metrics can improve the way you manage your business.
Using the Week 5 Data Set, create and calculate the following in Excel®:
- Conduct a goodness of fit analysis which assesses orders of a specific item and items you received by size, and do the following:
- Conduct a hypothesis test with the objective of determining if there is a difference between what you ordered and what you received at the .05 level of significance.
- Identify the null and alternative hypotheses.
- Generate a scatter plot, the correlation coefficient, and the linear equation evaluating whether a relationship exists between the number of times a customer visited the store in the past 6 months and the total amount of money the customer spent, and do the following:
- Set up a hypothesis test to evaluate the strength of the relationship between the two variables.
- Use a level of significance of .05.
- Use the regression line formula to forecast how much a customer might spend on merchandise if that customer visited the store 13 times in a 6-month period.
- Use the average monthly sales of 2014 ($1,310) as your base to do the following:
- Calculate indices for each month for the next two years.
- Graph a time series plot.
Week 5 Data Set:
| ORDERS VS. SHIPMENTS | CUSTOMERS IN PAST 6 MONTHS | MONTHLY SALES ($) | ||||||||
| Size | # Ordered | # Received | Customer # | # Visits | $ Purchases | Month | $ Sales | |||
| Extra Small | 30 | 23 | 1 | 8 | 468 | Jan | 1375 | |||
| Small | 50 | 54 | 2 | 6 | 384 | Feb | 1319 | |||
| Medium | 85 | 92 | 3 | 8 | 463 | Mar | 1222 | |||
| Large | 95 | 91 | 4 | 2 | 189 | Apr | 1328 | |||
| Extra Large | 60 | 63 | 5 | 10 | 542 | May | 1493 | |||
| 2X Large | 45 | 42 | 6 | 4 | 299 | Jun | 1492 | |||
| 7 | 6 | 345 | Jul | 1489 | ||||||
| 8 | 2 | 197 | Aug | 1354 | ||||||
| 9 | 4 | 293 | Sep | 1530 | ||||||
| 10 | 1 | 119 | Oct | 1483 | ||||||
| 11 | 3 | 211 | Nov | 1450 | ||||||
| 12 | 9 | 479 | Dec | 1495 | ||||||
| 13 | 7 | 430 | Jan | 1545 | ||||||
| 14 | 7 | 404 | Feb | 1454 | ||||||
| 15 | 6 | 359 | Mar | 1322 | ||||||
| 16 | 10 | 544 | Apr | 1492 | ||||||
| 17 | 9 | 522 | May | 1678 | ||||||
| 18 | 5 | 327 | Jun | 1645 | ||||||
| 19 | 6 | 353 | Jul | 1580 | ||||||
| 20 | 7 | 405 | Aug | 1493 | ||||||
| 21 | 4 | 289 | Sep | 1719 | ||||||
| 22 | 7 | 386 | Oct | 1573 | ||||||
| 23 | 7 | 403 | Nov | 1629 | ||||||
| 24 | 1 | 146 | Dec | 1680 | ||||||
| 25 | 7 | 416 | ||||||||
| 26 | 9 | 485 | ||||||||
| 27 | 3 | 333 | ||||||||
| 28 | 7 | 241 | ||||||||
| 29 | 2 | 391 | ||||||||
| 30 | 6 | 268 | ||||||||
I attached the spreadsheet for Week 5, please use tab 5 that says Week 5 to complete the assignment.

