The following report presents the detailed statistical analysis of the data collected from a sample of credit customers in the department chain store AJ DAVIS.
The 1st individual variable considered is Location. It is a categorical variable. The three subcategories are Urban, Suburban and Rural. Since this is a categorical variable, the measures of central tendency and descriptive statistics has not been calculated for this variable. The frequency distribution and pie chart are given as follows: Frequency Distribution:
From the frequency distribution and pie chart, it is evident that the maximum number of customers belongs to the rural category (42%), followed by those in the suburban category (30%). Only 28% of the customers belong to the urban category.
The 2nd individual variable considered is Size. It is a quantitative variable. The measures of central tendency, variation and other descriptive statistics have been calculated for this variable and are given as follows: Descriptive Statistics:
The mean household size of the customers is given as 3.42. The median of the data is 3 and the mode is 2. The standard deviation is given approximately as 1.74. Maximum number of customers has a household size of 2 as is evident from the frequency distribution and the bar graph.
The 3rd individual variable considered is Credit Balance. It is a quantitative variable. The measures of central tendency, variation and other descriptive statistics have been calculated for this variable and are given as follows:
Relative Frequency Distribution:
Credit Balance ($)FrequencyRelative Frequency
1500 - 200010.02
2000 - 250020.04
2500 - 300060.12
3000 - 350060.12
3500 - 400080.16
4000 - 4500120.24
4500 - 500070.14
5000 - 550060.12
5500 - 600020.04
The mean credit balance of the customers is given as $3964.06. The standard deviation is given approximately as 933.49. The credit balance of the customers is more or less normally distributed with the peak of the bell shaped distribution lying in the range $4000 - $4500. Thus, maximum number of customers has a credit balance within this range....