MATH 1053 - Quantitative Methods for Business

Appendx 3

Vinothon had a huge success hitting three cities after your break-even analysis and the client is so pleased that they are seeking further analysis about the duration of event attendance. In particular, it was observed that across the cities there were various durations for which people would attend the event. The client's goal is for you to determine a suitable duration for Vinothon in each city. This will hopefully result in a lively event, save costs, manage COVID and time for the people working at Vinothonitself. Information on the number of people attending and their duration of time in minutes spent at the event has been collected over the three different cities where Vinothontook place. The data is located in your spreadsheet for you to start crunching the numbers.

A) In the EXCEL worksheet,add your initials to columns A, B and C. Now obtain Descriptive Statistics for each city (Column A-C), including Quartile 1, Quartile 3 and IQR.

B)Extend the analysis in (a) to include outlier calculations using the 1.5xIQR Rule. Perform these calculations by hand (not in Excel).Use this rule to determine whether there are any outliers present.

C) By referring to your output from parts (a), (b) and boxplots below, discuss the following features:

(i) Whether there are outliers(s) present - use the results in part (b) and the boxplots below to support your argument.

(ii) The shape of the distribution (symmetric, skewed left, skewed right). Support your discussion by using the boxplot by referring to the location of the median, whisker lengths and presence/lack of outliers

(iii) The single most appropriate measure of central tendency and dispersion for the purpose of making comparisons. Simply state your choice and give a brief reason why.

Appendix 3 Discussion Points

For each city, state and interpret the values for average duration (nearest minute) people spend at Vinothon with the appropriate measures of central tendency and dispersion using layman's terms. A bullet point discussion is OK. (Appendix 3 (c)).

Report whether there have been unusually long or short periods at the different locations which people stayed at Vinothon (Appendix 3 (b)).

They are thinking of two sessions per day with the requirement of running the session, so it captures 75% of the sample's ideal time expenditure based on the data, however, there is only 7.5 hours available per day. If possible, how long should the sessions be and which cities can run two sessions (Appendix 3 (a), (c)).