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Week 4 Case Study- Franchise Restaurant

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Institution

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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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