Statistical Hypothesis Testing and Key Performance Indicators
The following report aims to analyse and interpret the data set of 200 records regarding the CCResort. The given information includes booking identification number, income, number of people per booking, length of stay, age and overall expenditure.
From the booking ID it can be assumed that the selection of data is random, however as it is only partial information and not the population, the period of time in which the data is selected from would affect the end results of analysis.
The report is divided into two sections outlining the statistical analysis of data and hypothesis testing to observe if CCResort have met their 2 major key performance indicators (KPIs)
1 More than 40% of their customers stay for a full …show more content…
Further analysis of the histogram and the skewness of the data shows that the customers’ age distribution is positively skewed, from which we can conclude that CCResort is visited by families and in general those in the older age groups.
4. Number of people per booking
The number of people per booking of the sample data is analysed with the following statistical indicators:
Mean 3.51
Median 4
Mode 4
Range 4
Standard Deviation 1.314741
Variance 1.728543
Skewness 0.333199
The analysis gives the business a general understanding of which type of customers, in groups or as families, it is attracting. From the table above, the average number of people per booking is 3.51 while the mode and median is 4 which suggest that the resort mainly attracts families usually with 1 to 2 children.
Further examination of the data through the histogram as shown below showing that 69 out of the 200 bookings studied, that is 34.5% of the data is made out of 4 people groups. Moreover, a total of 33.5% (67 bookings) of the bookings are made for 2 people which gave an indication that the resort is also popular with couples. In comparing the data set with the age distribution of the customer base, it can be argued that the CCResort mainly attracts families with children as well as couples with no children
5. Length of stay: distribution
The length

Statistics: Statistical Hypothesis Testing and Critical Value
1873 Words  8 PagesStep 1: Step 2: The alternative hypothesis is which indicates a one tail test. The degrees of freedom (df) = n2=122=10. The t value at the significance level of .05 and df of 8 and from appendix F is 1.812. The decision rule is to reject the null hypothesis because the test statistic is greater then 1.812. Step 3: According to Appendix F, we can assume that P 1.744), there is insufficient evidence to reject the null hypothesis. Pvalue Approach: Since the Pvalue is less…

Key Performance Indicators
1031 Words  5 PagesKPIs – The Metrics that Drive Performance Management Although selection of the appropriate visuals and graphs contribute to the effectiveness of a business performance management (BPM) dashboard, the true "soul" of the dashboard is the key performance indicators (KPIs). KPIs measure the business health of the enterprise and ensure that all individuals at all levels are "marching in step" to the same goals and strategies. They also provide the focal point for enterprisewide standardization, collaboration…

Performance Indicator
6936 Words  28 Pages9702480 REV: MAY 22, 2003 KENNETH S. CORTS Performance Indicator Robb Osinski and Bob Winskowicz had been friends for twelve years and business partners for five. In the middle of 2002, they felt that they were on the verge of a breakthrough in the commercialization of a new technology that their firm, Performance Indicator, LLC, had developed to let golfers know when a used golf ball had suffered performance degradation due to immersion in water hazards like ponds and creeks on golf courses…

Statistics for Bi  Hypothesis Testing
1672 Words  7 PagesStatistics for Business Intelligence – Hypothesis Testing Index: 1. What is Hypothesis testing in Business Intelligence terms? 2. Define  “Statistical Hypothesis Testing” – “Inferences in Business” – and “Predictive Analysis” 3. Importance of Hypothesis Testing in Business with Examples 4. Statistical Methods to perform Hypothesis Testing in Business Intelligence 5. Identify Statistical variables required to compute Hypothesis testing. a. Correlate computing those variables…

Statistical Hypothesis Test
574 Words  2 Pagest test is a statistical hypothesis test in which the test statistic follows a tdistribution if the null hypothesis is acknowledged. Besides, it is widely used in situations whereby the test statistic follow a normal distribution and the value of a scaling term in the test statistic are known. Null hypothesis Î¼ = 39 Alternative hypothesis Î¼ 39 From this analytic calculation it is clear that both the null and alternative hypotheses constitute a onetailed test. The null hypothesis will be rejected…

Statistics: Statistical Hypothesis Testing and Easy Keywords
6971 Words  28 PagesKEYWORDS: t test for mean difference, assumption 3. If we are testing for the difference between the means of 2 related populations with samples of n1 = 20 and n2 = 20, the number of degrees of freedom is equal to a) 39. b) 38. c) 19. d) 18. ANSWER: c TYPE: MC DIFFICULTY: Easy KEYWORDS: t test for mean difference, degrees of freedom 4. If we are testing for the difference between the means of 2 independent populations with samples…

Key Performance Indicator Assessment
2906 Words  12 PagesKey performance Indicator (KPI) Assessment activity 1: Research, analyse, document resource requirements, and develop an operational plan in consultation with relevant personnel, colleagues and specialist resource managers In your own words, describe the purpose of the operational plan and describe its relationship to the strategic plan. An operational plan emphasizes on the shortterm goals. This includes the projects and activities that requirements accomplishment in the near future so that…

Statistical Hypothesis Testing and Independent Samples Outcome
15064 Words  61 PagesBusiness Statistics, 9e (Groebner/Shannon/Fry) Chapter 10 Estimation and Hypothesis Testing for Two Population Parameters 1) The Cranston Hardware Company is interested in estimating the difference in the mean purchase for men customers versus women customers. It wishes to estimate this difference using a 95 percent confidence level. If the sample size is n = 10 from each population, the samples are independent, and sample standard deviations are used, and the variances are assumed equal,…

Key Performance Indicators (KPIs)
1215 Words  5 PagesKey Performance Indicators (KPIs) Key Performance Indicators (KPIs) are quantitative and qualitative measures used to review an organization’s progress against its goals. These are broken down and set as targets for achievement by departments and individuals. The achievement of these targets is reviewed at regular intervals. KPIs are used to monitor the performance of a company, department, process or even an individual machine. They will also help shape the behaviors of employees within the…

The Best Key Performance Indicators For The Godiva Monitor And Measure On Their Ecommerce Website
1412 Words  6 PagesIn my opinion, the five best key performance indicators for the Godiva to monitor and measure on their ecommerce website are: number of unique visitors, bounce rate, conversion rate, average order value, and repeat customer rate. Unique visitors counts are important in determining between new versus returning site user traffic. This data is helpful for counting hits to the landing page, and beneficial in counting hits to other pages within the site as well. High traffic, and high returning traffic…
More about Statistical Hypothesis Testing and Key Performance Indicators

Statistics: Statistical Hypothesis Testing and Critical Value
1873 Words  8 Pages 
Key Performance Indicators
1031 Words  5 Pages 
Performance Indicator
6936 Words  28 Pages 
Statistics for Bi  Hypothesis Testing
1672 Words  7 Pages 
Statistical Hypothesis Test
574 Words  2 Pages 
Statistics: Statistical Hypothesis Testing and Easy Keywords
6971 Words  28 Pages 
Key Performance Indicator Assessment
2906 Words  12 Pages 
Statistical Hypothesis Testing and Independent Samples Outcome
15064 Words  61 Pages 
Key Performance Indicators (KPIs)
1215 Words  5 Pages 
The Best Key Performance Indicators For The Godiva Monitor And Measure On Their Ecommerce Website
1412 Words  6 Pages