Statistical Tools and Data Analysis

7-2 Final Project Milestone Two: Statistical Tools and Data Analysis

Southern New Hampshire University

QSO 510 Quantitative Analysis

5th February, 2016

Identify the appropriate family of statistical tools that you will use to perform your analysis. What are your statistical assumptions concerning the data that led you to selecting this family of tools? In other words, why did you select this family of tools for statistical analysis?

A-Cat Corporation (ACC) is an electronic manufacturing company that makes transformers for electronic appliances. ACC is attempting to estimate how many transformers they will need in order to satisfy the demand. Typically, their method is to “look at the sales figures of the last two to three months and also the sales figures of the last two years in the same month”. Then they guess how many transformers they will need meet the demand. The issue is sometimes they overstock the transformers and sometimes they understock the transformers.

The vice president, Arun Mittra has tasked the head of operations, Ratnaparkhi with two assignments: 1. develop an analysis of the data and present a report with recommendations. 2. “To come up with a report that even a lower grade clerk in stores should be able to fathom and follow”. Simply put, Ratnaparkhi will need to analyze the date and present his solutions not only Mr. Mittra but also a report of the data even entry level clerks will be able to comprehend and implement in daily operations.

From this information one can conclude that the best statistical tool and method to collect data and come up with the result would be to utilize the ANOVA. The data given are as followed:

The reason the ANOVA test was selected for this statistical analysis is because it is conceptually similar to multiple two-sample t-tests, but is less conservative (results in less type I error) therefore suited to a wide range of practical problems.

Determine the category of the provided data in the given...