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Statistical Tools and Data Analysis

Essay by brett zurbrick  •  April 10, 2016  •  Course Note  •  665 Words (3 Pages)  •  911 Views

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Statistical Tools and Data Analysis

Brett Zurbrick

QSO-510

02-06-2016


To understand the needs of A-Cat Corporation with regard to the required amount of transformers and voltage regulators as it corresponds to the sale of refrigerators we must take into account multiple statistical analysis tools. These tools include the ANOVA analysis as provided by our operations manager, descriptive statistics generated for years 2006 thru 2010, and a forecast so as to look into the future to try and predict transformers needed for voltage regulators used in refrigerators.  Using these statistical analysis should better inform A-Cat Corporation of current production as well as provide the company the ability to understand the demand for their product now and into the future. This will in turn allow for better business planning, cost savings, and production practices.

The operational data being investigated and analyzed is provided via the operations team at A-Cat Corporation. The data being measured allows for comprehensive analysis that takes raw data and returns information that can be used to better company performance and more fully understand the business as whole. The statistical tool used, such as Excel’s Statistical Tool Pack will help us evaluate the performance of A-Cat Corporation. This tool is widely available, relatively easy to use, and extremely robust.

        By evaluating the statistical description of refrigerator sales from the year 2006 thru 2010 and the transformer requirements as seen below we can better understand the means and ranges required to fully understand the business.  

Sales of Refrigerators

 

 Transformer Requirements

 

 

 

 

 

Mean

5371.2

Mean

2924.9

Standard Error

304.1271514

Standard Error

103.4292257

Median

5221.5

Median

2844

Mode

#N/A

Mode

#N/A

Standard Deviation

1360.097969

Standard Deviation

462.5495592

Sample Variance

1849866.484

Sample Variance

213952.0947

Kurtosis

-0.295177496

Kurtosis

-1.00852493

Skewness

0.454044834

Skewness

0.187178159

Range

5041

Range

1566

Minimum

3291

Minimum

2208

Maximum

8332

Maximum

3774

Sum

107424

Sum

58498

Count

20

Count

20

Confidence Level(95.0%)

636.5454435

Confidence Level(95.0%)

216.4798574

By using this data and that from the ANOVA showing details for the years 2006 thru 2008 below we can understand the underlying trends in the business. Namely that the average mean is increasing as time goes by, inferring that more refrigerators are being sold and thus more transformers for the voltage regulators are needed for the manufacture of new refrigerators to be brought to market.

ANOVA: Single Factor

SUMMARY

Groups

Count

Sum

Average

Variance

2006

12

9614

801.1666667

7020.515152

2007

12

10784

898.6666667

18750.06061

2008

12

11884

990.3333333

21117.87879

ANOVA

Source of Variation

SS

df

MS

F

P-value

F crit

Between Groups

214772.2222

2

107386.1111

6.870739001

0.003201767

3.284917651

Within Groups

515773

33

15629.48485

Total

730545.2222

35

 

 

 

 

In this instance we can see that the F and P values in the ANOVA have changed considerably showing that there has indeed been a change in the number of transformers being produced in this time frame, the trend of which clearly, the trend of which clearly indicates that as time passes production has increased to keep pace with that of refrigerator sales.

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