Littletown Cafe

Jul 20th, 2016
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Suitability of a sample of quantitative data for the business scenario

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Suitability of a sample of quantitative data for the business scenario.For the Littletown Caf, the dataset is suitable for forecasting. There are multiple years toprovide trend analysis, in addition to the following:The sample size is representative of entire population.There is enough data with which to provide realistic forecasting.Each years data is internally consistent in that it provides all necessary descriptivestatistics.A basic overview of the dataset reveals that there are no outliers that are immediatelyapparent.Consistency in previous years data yields a standard deviation that can be applied to auniform projection for an appropriate sample size.Factors of Data ValidityLarge variations in the populationInsufficient sample sizeOutliers. Outliers complicate analysis of datasets by compromising the comparisonbetween and within data sets.Cross system consistency. All tabulated data should match multiple sources. As anexample, a guest book where visitors sign in is wildly insufficient. This needs to becorroborated with hard records such as receipts, booking data, et cetera.Factors that would affect data reliability in a set.The data should be sufficient for its purpose, complete, and checked for completion bymultiple data sources.The analysis process used must be appropriate to the purpose for which the data is beinganalyzed. to minimize errors. An incorrect analysis (the w

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