Executive Summary
This research provides statistical analysis for gross monthly sales in 60 stores using five key measures within a 10km vicinity: number of competitors, population in
‘000’s, average population income, average number of cars owned by households, and median age of dwellings. These quantitative variables are the key determinants, which will provide substance for descriptive statistics and the multiple linear regression model. This research reports mainly on statistical analysis, providing a direct interpretation of the research results.
This process quantitates subjective judgments, while offering a scientific method of selecting location when chain convenience store enterprises such as GStore expand their scale.
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The final factor, the median age of dwellings is a good variable to look into.
Whether or not the population consists of older or younger generations collecting this data is insightful as it helps determine their marketing activities and product offerings.
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4.0 Data Analysis
4.1 Methodology
To analyze the gross monthly sales of G-Store, a study between the five variables is conducted. Statistical approaches that are relevant i.e. descriptive statistics and multiple regression analysis using linear equation,
ANOVA (F-Test), T-Test, and R2 analysis are used to analyze the data.
4.2 Descriptive Statistics
Gross Monthly
Sales
Mean
Standard Error
Median
Mode
Standard
Deviation
Sample Variance
Kurtosis
Skewness
Range
Minimum
Maximum
Sum
Count
Value
124,440.05
10,849.72
113,658.53
#N/A
84,041.59
7,062,988,237.33
-0.86
0.55
284,829.08
12,191.88
297,020.96
7,466,403.18
60
Figure 1.0
In Figure 1.0, we can conclude that the total monthly sales for the 60 stores are
$7,466,403.18 and on average, a store earns $124,440.05 a month. The lowest earning store has only $12,191.88 while the most profitable store earns $297,020.96 a month.
The standard deviation is high relative to the mean, at $84,041.58. This high standard deviation is because there is too much variation in the data. This can be eliminated by removing extreme
When examining competitive advantage, it is also important to consider the market and take into account the existing competition against larger firms.
I will now be explaining the five roles of research and giving an example for each one of the roles. The five roles of research include: research to inform policy or practice, research to extend knowledge and understanding, research to improve practice, research to aid reflection and allow progress to be monitored and finally research to examine topics of contemporary importance.
It is crucial for a business to know where their customers come from in order to select the best location for the store. Choosing the best geographic area can help in the success of the business or the failure of the business. This is why Trader Joe’s has particular criteria when choosing new store locations. Trader Joe’s is aware who their target consumer is and utilizes the data they receive to place their locations in the areas that will benefit in the growth of the organization.
The third resource that I used is from the Office of Justice Programs/Bureau of Justice Statistics (BJS). A specific article titled “Intimate Partner Violence in the United States” shows a graph of intimate partner violence rates declining from 1993 to 2006. The article is quite vague, with no real description or stats stating whether or not men commit more violence against women than women do against men. “Violence between intimates is difficult to measure because it often occurs in private, and victims are often reluctant to report incidents to anyone because of shame or fear of reprisal” (S. Catalano).
Methods used in psychological research are used to obtain quantitative or qualitative data. Quantitative data is more often than not derived from methods such as experiments and statistics analysing data using surveys, questionnaires and interviews. Qualitative data tends not to be aimed at finding exact measurements in its findings, but is more concerned with evidence collection and analysis through practices such as observation and ethnography (using observations through involvement in activities over a period of time) (Brownlow 2011).
The data set given is the information collected from the existing 250 stores consists in 33 variables, some of them qualitative and some of them quantitative.
The firm also has several branches across different states. This offers a deliberate effort regarding location since the strategy behind this is placing and concentrating the outlets in populations where middle-income households reside. This concept helps to cut implicit transaction price regarding distance and time.
Traditionally, nutrition programs were targeted to the indigent and poor populations in developing countries. Many of today's Americans are malnourished also, but they are inundated with unhealthy foods and require a multidisciplinary approach to nutrition education. What would be the three most important points to include in a public nutrition program? Provide current literature to support your answer and include two nutritional education community resources.
A mix of housing age, old houses ( 40-100 years old predominant) and new housing developments
Since the maximum value of the predictor variable (calls) is used to formulate the given regression model is 201.00, which is less than 300, we cannot use the given regression model to accurately estimate the weekly sales for weekly call of 300. So we can’t say anything about the weekly sales when weekly calls are 300.
The location of a business has a large impact of future sales and success. The potential location holds communities that are very close-knit and once loyalty is established sales can be maintained. The personal relationships with the customers are highly important in this area.
Quantitative and Qualitative are said to be systematic in different design. Both design have to follow a process system that involved defining a principle of research.
Use backward expansion, which is opening stores in small towns surrounding a targeted metropolitan area before moving into the metropolitan area itself.
The study for this thesis will be exploratory research using secondary data collected by the communication agency, MESH Planning. The agency developed an innovative approach called ‘real-time experience tracking’, which involves three stages of data collection. And both qualitative and quantitative data will be collected and used in this context in order to get an insight of critical incidents.
The company has to decide between the two locations based on their virtues, availability and higher margin of profit.