The data is
posted under course documents on Blackboard.
There are actually 3364 observations.
The data deals with product placement in retail food stores
as to the manufacturer or supplier.
Stokely, Nabisco, Tyson, or other
such major companies are frequently interested in the percent
of their product placements in a store.
For instance, most such companies might have anyway from
50 to 100 products to place in a store.
The right placement combination maximizes their profits
as well as the profits of the retail store.
There are ten products in this data set with some auxiliary
variables for later analysis. The variable value for
the product is the percent of the product sold in that store.
Some products might have a value of zero because of non-sales
of that product at that retail store.
(1) Your product is prod3
(2) You are to take two random
samples. The first sample is hereafter
called sample A and the other is called sample B.
Sample A is to have 21 observations while sample
B is to have 62 observations.
For each sample observation, indicate the random number,
the observation position, and the percent of product sold for
this past year.
(3) For sample A (the smaller
sample), find the median, mode, mean, Q1, Q3, IQR, range, variance, standard deviation,
and the coefficient of variation.
Construct the stem-and-leaf and box-plot.
Also apply the empirical rule and Chebyshev’s rule
and comment as to which is more appropriate and why.
Look at the lowest and highest data values as to Z values.
Interpret your findings.
All of this is to done with calculator and also with JMP. Show your work.
(4) For sample B (the larger
sample), do all the above in (3) but include the histogram and
the normal probability plot. This is to be done only
with JMP. Maybe a few calculations
with numbers that JMP provides will be necessary.
Interpretation is very important!
(4) Compare
your results in (3) and (4), noting differences and similarities. How does the larger sample
give clarity to the percent of sales for your product?
What recommendation would you make as to stocking of this
product?