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Solution Manual for Essentials of Business Analytics 3rd Edition

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Edition: 3rd Edition

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Resource Type: Solution manual

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Solution Manual for Essentials of Business Analytics 3rd Edition by Camm

CHAPTER 1 SM NOT EXISTENT
Chapter 2

Descriptive Statistics

 

Case Problem:  Heavenly Chocolates Website Traffic

 

  1. Descriptive statistics for the time spent on the website, number of pages viewed, and amount spent are shown below.

 

Time (min)Pages ViewedAmount Spent ($)
Mean12.84.868.13
Median11.44.562.15
Standard Deviation6.062.0432.34
Range28.68140.67
Minimum4.3217.84
Maximum32.910158.51
Sum640.52413406.41

 

The mean time a shopper is on the Heavenly Chocolates website is 12.8 minutes, with a minimum time of 4.3 minutes and a maximum time of 32.9 minutes.  The following histogram demonstrates that the data are skewed to the right.

 

The meannumber of pages viewed during a visit is 4.8 pages with a minimun of 2 pages and a maximum of 10 pages A histogram of the number of pages viewed indicates that the data are slightly skewed to the right.

 

 

 

The mean amount spent for an on-line shopper is $68.13 with a minimum amount spent of $17.84 and a maximum amount spent of $158.51.  The following histogram indicates that the data are skewed to the right.

 

 

  1. Summary by Day of Week

 

Day of WeekFrequencyTotal Amount Spent ($)Average Amount Spent ($)
Sunday5218.1543.63
Monday9813.3890.38
Tuesday7414.8659.27
Wednesday6341.8256.97
Thursday5294.0358.81
Friday11945.4385.95
Saturday7378.7454.11
Total503406.4168.13

 

The above summary shows that Monday and Friday are the best days in terms of both the total amount spent and the averge amount spent per transaction. Friday had the most purchases (11) and the highest value for total amount spent ($945.43). Monday, with nine transactions, had the highest average amount spent per transaction ($90.38).  Sunday was the worst sales day of the week in terms of number of transactions (5), total amount spent ($218.15), and average amount spent per transaction ($43.63). However, the sample size for each day of the week are very small, with only Friday having more than ten transactions. We would suggest a larger sample size be taken before recommending any specific stratgegy based on the day of week statistics.

 

  1. Summary by Type of Browser

 

BrowserFrequencyTotal Amount Spent ($)Average Amount Spent ($)
Firefox161228.2176.76
Chrome271656.8161.36
Other7521.3974.48

 

Chrome was used by 27 of the 50 shoppers (54%).But, the average amount spent spent bycustomers who used Chrome ($61.36)is less than the average amount spent by customers who used Firefox ($76.76) or some other type of browser ($74.48). This result would suggest targeting special promotion offers to Firefox users or users of other types of browsers. But, before recommending  any specific strategies based upon the type of browser, we would suggest taking a larger smaple size.

 

  1. A scatter diagram showing the relationship between time spent on the website and the amount spent follows:

 

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