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Week 4 Case Study- Franchise Restaurant
Student’s Name
Institution
Date
Introduction
The purpose of this paper is to analyze the prices of three items or vegetables supplied by three different suppliers. The analysis of the prices is done to understand the difference in prices and the relationship which exists based on the mean of the prices of the products. The three suppliers are Bonner, Enz and Walker and the items supplied are vegetable 1, vegetable 2, and vegetable 3. Therefore, this paper compares the mean prices of items from three suppliers and it illustrates whether the means are statistically different or not.
Compare the mean prices of items from the three suppliers:
Vegetable 1
The analysis of mean prices of vegetable 1 indicates that the prices of the means of vegetable 1 supplied by the three suppliers Benner, Enz, and Walker are different. The mean of vegetable 1 supplied by Benner is 0.66 Enz is $1.26 and Walker is $0.98. It, therefore, means that Enz supplied vegetable 1 at a higher price compared to Walker and Bonner and Bonner prices are the most affordable at $0.66. This is indicated in figure 1 below of descriptive statistic.
Bonner
Enz
Walker
Mean
0.663333333
Mean
1.266666667
Mean
0.98
Standard Error
0.118509259
Standard Error
0.049777282
Standard Error
0.078102497
Median
0.61
Median
1.25
Median
0.99
Mode
#N/A
Mode
#N/A
Mode
#N/A
Standard Deviation
0.205264058
Standard Deviation
0.086216781
Standard Deviation
0.135277493
Sample Variance
0.042133333
Sample Variance
0.007433333
Sample Variance
0.0183
Kurtosis
#DIV/0!
Kurtosis
#DIV/0!
Kurtosis
#DIV/0!
Skewness
1.09029058
Skewness
0.837392774
Skewness
-0.330831815
Range
0.4
Range
0.17
Range
0.27
Minimum
0.49
Minimum
1.19
Minimum
0.84
Maximum
0.89
Maximum
1.36
Maximum
1.11
Sum
1.99
Sum
3.8
Sum
2.94
Count
3
Count
3
Count
3
Figure 1: Descriptive statistic for the mean price of vegetable 1
Vegetable 2
The analysis of item vegetable 2 indicates that the mean prices of vegetable 2 are different as well. The mean of vegetable 2 supplied by Bonner is $1.02, Enz is $1.36 and Walker is $1.69. The analysis of the mean prices of vegetable 2 indicates that Walker had higher prices compared to the rest of the supplier and therefore, Bonner is more affordable at $1.02, followed by Enz at $1.36 and Walker at $1.69.
Bonner
Enz
Walker
Mean
1.023333333
Mean
1.366666667
Mean
1.696666667
Standard Error
0.116237305
Standard Error
0.03929942
Standard Error
0.029059326
Median
1.05
Median
1.39
Median
1.69
Mode
#N/A
Mode
#N/A
Mode
#N/A
Standard Deviation
0.201328918
Standard Deviation
0.068068593
Standard Deviation
0.05033223
Sample Variance
0.040533333
Sample Variance
0.004633333
Sample Variance
0.002533333
Kurtosis
#DIV/0!
Kurtosis
#DIV/0!
Kurtosis
#DIV/0!
Skewness
-0.585582726
Skewness
-1.361301396
Skewness
0.585582726
Range
0.4
Range
0.13
Range
0.1
Minimum
0.81
Minimum
1.29
Minimum
1.65
Maximum
1.21
Maximum
1.42
Maximum
1.75
Sum
3.07
Sum
4.1
Sum
5.09
Count
3
Count
3
Count
3
Figure 2: Descriptive statistic for the mean price of vegetable 3
Vegetable 3
The analysis of the mean price of vegetable 3 supplied by Bonner, Enz, and Walker indicates that there are differences of mean pieces. The mean prices of vegetable 3 supplied by Bonner are $1.95, Enz is $1.31 and Walker is $1.73. Based on the result obtained, it is evident that Bonner charged a higher price of $1.95, and Enz is the cheapest at $ 1.31.
Bonner
Enz
Walker
Mean
1.953333333
Mean
1.316667
Mean
1.726666667
Standard Error
0.545903939
Standard Error
0.076884
Standard Error
0.056075346
Median
1.99
Median
1.25
Median
1.75
Mode
#N/A
Mode
#N/A
Mode
#N/A
Standard Deviation
0.945533359
Standard Deviation
0.133167
Standard Deviation
0.097125349
Sample Variance
0.894033333
Sample Variance
0.017733
Sample Variance
0.009433333
Kurtosis
#DIV/0!
Kurtosis
#DIV/0!
Kurtosis
#DIV/0!
Skewness
-0.174242264
Skewness
1.688202
Skewness
-1.018682875
Range
1.89
Range
0.24
Range
0.19
Minimum
0.99
Minimum
1.23
Minimum
1.62
Maximum
2.88
Maximum
1.47
Maximum
1.81
Sum
5.86
Sum
3.95
Sum
5.18
Count
3
Count
3
Count
3
Figure 3: Descriptive statistic for the mean price of vegetable 3
Based on the analysis of the mean price of three items supplied by the three suppliers Bonner, Enz and Walker, the mean price of three items is statistically differed among the suppliers. The mean prices of the three items differ based on the items provided by the supplier.
Bonner
Enz
Walker
Mean
1.213333333
Mean
1.316666667
Mean
1.467777778
Standard Error
0.25309199
Standard Error
0.03218868
Standard Error
0.125419051
Median
0.99
Median
1.29
Median
1.65
Mode
#N/A
Mode
1.25
Mode
1.75
Standard Deviation
0.759275971
Standard Deviation
0.09656604
Standard Deviation
0.376257152
Sample Variance
0.5765
Sample Variance
0.009325
Sample Variance
0.141569444
Kurtosis
2.300658477
Kurtosis
-1.327512083
Kurtosis
-1.172823333
Skewness
1.610046614
Skewness
0.337201741
Skewness
-0.895139459
Range
2.39
Range
0.28
Range
0.97
Minimum
0.49
Minimum
1.19
Minimum
0.84
Maximum
2.88
Maximum
1.47
Maximum
1.81
Sum
10.92
Sum
11.85
Sum
13.21
Count
9
Count
9
Count
9
Figure 1: Descriptive Statistic
The analysis of the mean price of the items supplied by Bonner, Enz, and Walker indicates there is a price difference CITATION Pec16 \l 1033 (Peck, Olsen, & Devore, 2016). The mean price of items supplied by Bonner is $1.21, Enz is $1.31 and Walker is $1.46. This means that the mean price of items supplied by the three suppliers is a difference and the difference is based on the item and the supplier.
Anova: Single Factor
SUMMARY
Groups
Count
Sum
Average
Variance
Column 1
9
10.92
1.213333
0.5765
Column 2
9
11.85
1.316667
0.009325
Column 3
9
13.21
1.467778
0.141569444
ANOVA
Source of Variation
SS
df
MS
F
P-value
F crit
Between Groups
0.294762963
2
0.147381
0.607846881
0.552693
3.402826
Within Groups
5.819155556
24
0.242465
Total
6.113918519
26
Figure 2: ANOVA
The mean price of each item supplied is different and the mean price of suppliers are also different. This means that the difference in prices is based on the supplier and the items supplied as well. The analysis of the mean prices indicates that the p-value is 0.552. It means that the null hypothesis is accepted and therefore, there is a relationship between the mean price of each item and the supplier CITATION Ali16 \l 1033 (Ali & Bhaskar, 2016). It can, therefore, be concluded that the differences in prices are based on the supplier, not the items supplied.
References
BIBLIOGRAPHY Ali, Z., & Bhaskar, S. (2016). Basic statistical tools in research and data analysis. https://www.researchgate.net/publication/308133810_Basic_statistical_tools_in_research_and_data_analysis, 2-35.
Peck, R., Olsen, C., & Devore, J. (2016). Introduction to Statistics & Data Analysis. https://www.cengage.com/resource_uploads/downloads/1305115341_450336.pdf, 2-35.
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