INDIAN INSTITUTE OF MANAGEMENT KOZHIKODE- KOCHI CAMPUS, INFOPARK, KAKKANAD, KOCHI- 30
Descriptive Statistics Analysis Study
Rakesh Krishnan S, EPGPKC02-WEB076
Analysis on ITC Sun feast sales figures:
ITC made a foray into the biscuits market by launching the Sunfeast range of biscuits in 2003. Since then, Sunfeast biscuits have always stood for quality and are known for offering innovative and wholesome biscuits. Within a span of 11 years, Sunfeast has well-established presence in almost all categories of biscuits. The data provided for analysis is the sales figures of Sunfeast biscuits in Kerala region as a whole, for a span of 3 years. The analysis has been done ...view middle of the document...
The sample descriptive analysis is as below:
Descriptive Statistics for Sample Data |
Mean | 1331845.964 |
Standard Error | 31477.32086 |
Median | 1314824.417 |
Mode | #N/A |
Standard Deviation | 121911.1395 |
Sample Variance | 14862325930 |
Range | 430548.989 |
Minimum | 1108591.903 |
Maximum | 1539140.892 |
Sum | 19977689.46 |
Count | 15 |
Here n=15, Sample standard deviation s=191491.39, sample mean x=1288486.79
From the above chart, we can signify that the mean value of the sample is greater than the median value, which signifies that it is skewed right.
Test for Consistency:
Analysis is also done individually to the sales data for each year that is 2011, 2012 and 2013, in order to measure the consistency or to measure the best years of sales by measuring the co-efficient of variance (CV), from the mean and standard deviation values measured for each year.
Measuring the CV for year 2013 is 8.09% which is lesser compared to the other years, we can conclude that the year 2013 has the best sales compared to previous two years.
Below shown is the descriptive analysis done for the year 2013:
Descriptive Statistics |
Mean | 1368990.57 |
Standard Error | 31992.70768 |
Median | 1369950.23 |
Mode | #N/A |
Standard Deviation | 110825.9903 |
Sample Variance | 12282400134 |
Range | 302569.683 |
Minimum | 1225327.298 |
Maximum | 1527896.981 |
Sum | 16427886.84 |
Count | 12 |
Coefficient of Variance (in %) | 8.095453157 |
As the CV is lesser compared to the other years, we can assure that sales is more consistent and better in the year 2013.
Also the standard deviation value is less for year 2013 compared to the previous years.
Approximation to Normal Distribution
From the below data it can be assumed that the sample data can be approximated to a normal distribution:
Empirical Analysis | |
mean - 1s | 12,09,934.824318 |
mean + 1s | 14,53,757.103282 |
percent in interval (68.26%) | 73.3% |
mean - 2s | 10,88,023.684836 |
mean + 2s | 15,75,668.242764 |
percent in interval (95.44%) | 100.0% |