 QNT 275 Week 5 Learning Team Assignment Apply: Week 5 Small Group Acti

# QNT 275 Week 5 Learning Team Assignment Apply: Week 5 Small Group Activity Case

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QNT 275 Week 5 Learning Team Assignment Apply: Week 5 Small Group Activity Case

Instructions: You are the manager of a retail store and want to investigate how various metrics can improve the way you manage your business. Use the Week 5 Data Set to create and calculate the following in Microsoft® Excel®:

1. Conduct a goodness of fit analysis which assesses orders of a specific item by size and items you received by size.
2. Conduct a hypothesis test with the objective of determining if there is a difference between what you ordered and what you received at the .05 level of significance.
• Identify the null and alternative hypotheses.
1. Generate a scatter plot, the correlation coefficient, and the linear equation that evaluates whether a relationship exists between the number of times a customer visited the store in the past 6 months and the total amount of money the customer spent.
• Set up a hypothesis test to evaluate the strength of the relationship between the two variables.
1. Use the regression line formula to forecast how much a customer might spend on merchandise if they visited the store 13 times in a 6month period.
2. Use the average monthly sales of 2014 (\$1,310) as your basis to:
• Calculate indices for each month for the next two years.
• Graph a time series plot. 5.  In the Data Analysis Toolpak, use Excel's Exponential Smoothing option in order to:
• Apply a damping factor of 0.5 to your monthly sales data.
• Create a new time series graph that compares the original and revised monthly sales data. Click the Assignment Files tab to submit.