​Option 2 - Beltway Shoe Company

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Business Finance

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Option 2 - Beltway Shoe Company

Beltway Shoe Company sells luxury leather shoes in the United States. The company monitors its shoe sales by collecting randomly chosen data from store locations throughout the country. They record original price, sale price, and number of days it takes to sell each unit. Each pair of shoes is classified as “Eastern Region" if it is sold in the Eastern part of the United States, or as “Western Region" if it is sold in the Western part of the country. Randomly chosen samples provided sales data for 50 Western Region and 50 Eastern Region pairs of shoes. The complete data set is in the file named Shoes, linked at the bottom of the page.

Managerial Report
Prepare a report (see below) that summarizes your assessment of the nature of the shoe market in each region. Be sure to include the following seven (7) items in your report.

  1. Descriptive statistics (mean, median, range, and standard deviation) to summarize each of the three variables for the 50 Western Region shoes. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to make your determination.
  2. Descriptive statistics (mean, median, range, and standard deviation) to summarize each of the three variables for the 50 Eastern Region shoes. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to make your determination.
  3. Compare your summary results from #1 and #2. Discuss any specific statistical results that would help the Beltway Shoes Marketing Department understand the regional shoe market.
  4. Develop a 90% confidence interval estimate of the population mean sales price and population mean number of days to sell for pairs of Beltway Shoes in the Eastern Region. Interpret your results.
  5. Develop a 90% confidence interval estimate of the population mean sales price and population mean number of days to sell for pairs of Beltway Shoes in the Western Region. Interpret your results.
  6. Assume a branch sales manager requested estimates of the mean selling price of Western Region shoes with a margin of error of $5 and the mean selling price of Eastern Region shoes with a margin of error of $4. Using 90% confidence, how large should the sample sizes be for each?
  7. A Western Region store manager just placed on display a pair of Beltway Shoes, with an original price of $120. Also, an Eastern Region store manager just placed on display a pair of Beltway Shoes, with an original price of $125. For each pair of shoes, what is your estimate of the final selling price (based on the percent difference for the sale and list price) and number of days required to sell each of these units?

Write a report that adheres to the Written Assignment Requirements under the heading “Expectations for CSU-Global Written Assignments” found in the CSU-Global Guide to Writing and APA Requirements. As with all written assignments at CSU-Global, you should have in-text citations and a reference page. An example paper is provided in the MTH410 Guide to Writing with Statistics, linked at the bottom of the page.

Your report must contain following:

  • A title page in APA style.
  • An introduction that summarizes the problem.
  • The body of the paper should answer the questions posed in the problem by communicating the results of your analysis. Include results of calculations, as well as charts and graphs, where appropriate.
  • A conclusion paragraph that addresses your findings and what you have determined from the data and your analysis.

Submit your Excel file in addition to your report.

Unformatted Attachment Preview

Western Region Original Price Sale Price Days to Sell 82 60 20 140 123 26 80 70 16 89 50 72 135 120 18 146 143 109 80 80 79 125 100 130 70 60 100 81 52 96 103 95 14 118 100 33 136 100 101 101 50 55 140 75 69 73 42 120 135 99 90 89 40 40 144 60 130 109 45 23 145 100 106 81 50 133 136 70 62 110 88 74 137 137 101 132 50 96 75 42 98 71 62 189 109 89 122 130 119 108 108 89 19 146 100 125 98 80 15 82 50 7 79 79 1 138 99 17 95 79 23 136 129 30 74 34 17 139 100 25 143 89 120 120 109 35 Eastern Region Original Price Sale Price Days to Sell 148 139 33 103 89 59 112 100 189 81 61 145 136 100 91 112 89 66 121 100 81 83 60 65 99 80 100 93 65 15 98 70 34 106 100 102 109 99 45 102 89 166 96 96 50 103 40 56 84 60 102 96 50 71 125 75 45 136 100 80 103 103 33 82 60 25 149 100 23 92 88 45 111 100 77 148 70 100 98 68 65 102 82 34 109 100 144 137 137 2 85 65 34 94 84 45 141 141 100 131 120 8 130 120 10 107 80 45 113 80 120 142 100 100 105 60 36 140 70 75 83 43 69 97 90 45 75 136 124 132 91 80 54 68 75 69 100 69 79 50 54 58 25 15 75 25 33 49 100 75 95 129 93 118 89 73 79 103 90 99 60 100 80 60 60 70 38 56 71 34 55 67 78 114
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