Question

Part B: Case Heavenly Chocolates Website Transaction Heavenly Chocolates manufactures and sells quality chocolate products at its plant and retail store located in Saratoga Springs, New York. Two years ago the company developed a website and began selling its products. A sample of 50 Heavenly Chocolates transactions was selected from the previous month's sales The following shows the Excel output for the "Time (min)" variable (time spent the shoppers on the website), the "Page Viewed" (the number of website viewed), and the "Amount Spent ($)" variable (amount spent per transaction) Time (min) Pages Viewed Amount Spent (S) Мean 12.81 Mean 4.82 Mean 68.1282 Median 11.4 Median 4.5 Median 62.15 Mode 11.4 Mode 4 Mode #N/A Standard Deviation Sample Variance Skewness 6.063313905 Standard Deviation 2.037305143 Standard Deviation 32.34375786 36.76377551 Sample Variance 4.150612245 Sample Variance 0.646390399 Skewness 1046.118672 1.449831932 Skewness 1.049045436 Range 28.6 Range 8 Range 140.67 Minimum 4.3 Minimum 2 Minimum 17.84 Maximum 32.9 Maximm 10 Maximum 158.51 Sum 640.5 Sum 241 Sum 3406.41 50 Count 50 Count Count 50 Describe the characteristics Heavenly Chocolates's online shoppers from these numerical summaries (one double space typed page)

Answer 1

For the "time" variable the mean is 12.81 that means that most of the people spent about 12.81 minutes on an average on the website.

For the "Pages Viewed" variable most of the people viewed 4.82 pages on an average.

For the "Amount Spent($)" variable the average amount spent per transaction is $68.1282

Mode means the highest frequency occurred for a data points. It means in those 50 samples, maximum number of people spent 11.4 minutes on the website and the the number of most viewed pages is 4.

Standard deviation means that how much the data points are scattered or deviated from the mean value. The SD for time is 6 implies that the the on an average data points are deviated by 6 units as we can see that from the minimum and maximum value. On the other hand the SD of "Amount Spent" is very high indicating the data points are very much scattered as seen from the maximum and minimum value. And the SD is small for "Pages Viewed" variable as the minimum is 2 and maximum is 10.

Skewness gives us the shape of the distribution. Where Skewness = 0 means the distribution is symmetric where positive skewness implies that the frequency distribution of the variable is positively skewed and same for the negatively skewed distribution. Here all the variables are positively skewed among them "Pages Viewed" variable is more or less symmetric as its skewness is 0.646390399