Fluent Essays

You are a consultant who works for the Diligent Consulting Group. In this Case, you are engaged on a consulting basis by Loving Organic Foods. In order to get a better idea of what might have motivated customers’ buying habits you are asked to analyze a customer database. You realize the database is still incomplete, so you recontact these customers and collect additional information. The database now includes “Annual Amount Spent on Organic Food,” “Age,” “Annual Income,” “Number of People in the Household,” and “Gender.”Case AssignmentUsing Excel, generate descriptive statistics for these new variables: “Annual Income,” “Number of People in the Household,” and “Gender.”You have much more information about the customers than you did in the Module 1 Case. After you have reviewed the results generated above, write a report to your boss that briefly describes the results that you obtained. Please include the following in your report:The descriptive statistics you generated.Your interpretation of the descriptive statistics and any visual displays or other tools you used to analyze the data.Your recommendation on how this new data might be used for marketing purposes.Comment on whether this new recommendation is different than the one you provided in the Module 1 case. If so, explain why it is different.Compare your statistical results from the new variables with those of the industry.Lastly, your client argues that the amount of money spent on organic food is the same for females and males. You decide to test this at the α = 0.10 level, using a two-sample hypothesis test. You don’t know the population standard deviation, but you assume they are the same. Run this test in Excel and interpret the results. Can you support your client’s claim? bus520_module_2_case_2_confidence_intervals_and_hypothesis_testing_12_january_2020.xlsx bus520_mod_1_case_1__excel_descriptive_statistics_and_visual_displays_22_december_2019_.docx bus520_mod_1_case_assignment_22_december_2019.xlsx Unformatted Attachment Preview Annual Amount Spent on Organic Food 7348 11598 9224 12991 16556 11515 10469 17933 18173 12305 9080 9113 6185 6470 6000 6760 8579 7393 8161 10800 6160 10800 8543 17666 12644 14308 9737 13301 18106 11468 9547 7812 15521 7598 7783 17737 7824 6552 11232 6540 4200 7225 5370 Age 77 47 23 38 58 44 34 75 32 39 65 48 48 49 57 71 47 47 28 63 24 66 24 38 54 28 58 27 48 26 52 29 75 45 74 56 30 57 41 23 28 23 45 Annual Income 109688 109981 112139 113420 114101 115100 116330 116339 117907 119071 58603 58623 61579 62180 62202 68041 68407 69618 73079 75900 77129 79618 81131 86246 89167 89576 92296 93614 93954 95937 100846 103276 104112 105119 105925 106084 108616 109038 109585 37834 38940 42145 48677 Number of People in Household 3 5 4 5 5 5 5 6 7 5 5 4 2 2 5 2 4 3 4 5 3 6 4 6 5 5 4 5 6 5 4 2 5 4 3 6 3 2 5 5 5 5 5 Gender (0 = Male; 1 = Female) 1 1 1 1 0 0 0 0 0 1 1 1 1 0 1 0 1 1 0 1 1 0 0 1 1 1 0 1 1 1 0 1 1 0 1 0 1 0 1 0 0 0 1 4476 2800 7839 3472 8854 8900 12791 12712 13321 8802 14369 7908 17840 15107 12070 6389 6606 6291 7425 11436 7612 7515 13115 11870 8450 16324 9331 9184 16803 10709 14456 16634 12227 13476 14554 9393 14594 6628 11240 13101 14034 17837 7849 10578 11325 7105 16460 33 42 39 60 57 41 67 73 57 64 24 25 34 78 34 34 41 62 57 23 78 36 44 75 70 38 35 65 68 48 24 46 43 58 66 68 74 32 61 42 60 64 53 62 78 44 58 48997 49058 49609 53279 53917 54716 126306 130893 134488 135711 139701 142014 142857 143182 150987 152041 154702 155552 157329 163794 164108 165851 172497 174458 177517 183779 185111 186467 189137 194351 194380 197358 197400 198650 202859 203591 206216 207679 210498 210678 211249 211961 212851 213035 214457 215442 220178 4 1 4 1 5 5 5 5 5 4 5 4 6 5 5 2 3 1 3 5 4 4 5 5 4 5 4 4 6 5 5 5 5 5 5 4 5 2 5 5 5 6 2 5 5 2 5 1 1 1 0 0 0 0 1 1 0 1 1 0 1 1 1 0 1 0 1 0 0 1 0 1 0 0 0 0 1 0 0 1 0 1 1 1 0 0 1 0 1 1 1 0 0 1 8390 14956 10903 12054 11697 12781 17456 12835 13403 15051 14225 11196 11475 5605 9890 13227 11200 9600 15703 6486 9430 7755 8100 14821 10650 12589 11600 13000 17065 16500 8600 11900 16723 16759 27 68 21 70 38 25 30 70 37 40 29 54 52 65 72 40 36 43 38 73 41 35 21 59 56 42 46 34 70 55 38 51 66 43 220403 220893 221223 221498 222618 229072 229685 230228 235617 238087 240768 242529 243765 244625 245208 247648 249805 252033 252812 257143 258167 258640 261020 266223 266269 267565 268380 269431 269839 270441 272795 274846 276250 277231 3 5 4 5 5 5 6 5 5 5 5 4 5 2 4 5 4 4 5 1 4 2 3 5 5 5 4 4 6 5 2 4 5 5 1 1 1 1 1 1 1 1 0 0 0 0 1 0 1 0 1 0 1 1 1 1 1 1 1 1 1 1 0 0 0 1 0 0 Running head: EXCEL, DESCRIPTIVE STSTISTICS, AND VISUAL DISPLAYS Trident University International Dawn Francis Excel, Descriptive Statistics, and Visual Displays Module 1 Case BUS520: Business Analytics and Decision Making Professor: Dr. Heather Luea 22 December 2019 1 ORGANIZATIONAL STRUCTURE AND CULTURE 2 Introduction As an assigned consultant for the Diligent Consulting Group, I have been given the task of analyzing the ages of customers who have purchased organic foods in the past three months. This will assist in getting a better understanding of what may have motivated the customers buying habits regarding Loving Organic Foods. In this case study I will determine the results of the Loving Organic Foods survey in which 200 customers had previously purchased organic foods over the past three months, however, only 124 had responded. I will analyze the data using a Histogram of the age data and provide a brief report of my findings. Organic Food Industry Organic foods can be defined as processed or fresh foods produced by methods of organic farming. These organic foods are free of synthetic chemicals and they don’t contain genetically modified organisms (GMOs) (Duram, 2019). The organic food industry has significantly increased since the 20th century, making it a multibillion-dollar industry. The organic food industry specializes in the areas of retailing, processing, production and distribution of organic foods and products (Duram, 2019). Organic Market Analysis In recent years the U.S. has experienced strong double-digit growths and increased total revenue rates between 2012-2016 (EBSCOhost, 2017). In 2016, the U.S. organic food market had earned $44,908.1 million in total revenues, compared to their counterparts in Europe which received $36,810.9 million and Asia-Pacific who received $11,896 million in revenues (EBSCOhost, 2017). According to (EBSCOhost, 2017) MarketLine. Organic Food, “The fruit and vegetable segments were most lucrative” for the U.S. organic food market in 2016, with a total revenue ORGANIZATIONAL STRUCTURE AND CULTURE 3 of $21,610.2 million. This was followed by the dairy segment which had a total revenue of only $7,493.2 million in market value. Healthy Food Industry There were times when consumers bought food to keep from being hungry. There wasn’t a concern about whether the food was healthy or not, just if it served its purpose of making one full and it is tasting good as well. In most recent decades, times have changed in a manner of how and what types of foods consumers consume. These consumer changing attitudes and behaviors towards healthy lifestyles are continually increasing, when it comes to organic food markets. Most consumers now a days are self- conscious or health-conscious for several reasons; longer life spans, prevention of specified diseases, and over all well-being of their mental and physical condition. According to the (Economic Research Service, United States Department of Agriculture (USDA), 2019) Organic Agriculture “consumers prefer organically produced food because of their concerns regarding health, the environment, and animal welfare” as well as displaying their willingness to pay priced premiums of marketplaces. When it comes to organic consumers demographics there are three types to be identified. These consumers can be categorized as novices, intermediates, and experts. The novice consumer can also be known as the periphery consumer. These consumers are in the beginning/learning phase of leaning towards or considering purchasing organic foods or products. These consumers make up 14\% of the organic food market (Chait, 2019). The intermediate consumer can also be known as the mid-level organic consumer. These consumers are promoting change not only in their attitudes but also in their behaviors and are now buying organic foods or products. These consumers make up 65\% of the organic food market (Chait, 2019). ORGANIZATIONAL STRUCTURE AND CULTURE 4 The expert consumer can also be known as the core consumer. These consumers are fully invested in the cause, both through their attitudes and behaviors. These consumers not only promote organics, but they also purchase organic foods more often than the others. These consumers make up only 21\% of the organic food market (Chait, 2019). According to the (Organic trade association (OTA), n.d.), Consumer Attitudes and Beliefs Study, it was determined that the consumer demographics consist of family households. These households are broken down into three categories; “millennials without children, millennials with children, and parents aged 36-64 years of age. In their study it was also shown that the millennial parents 18-35 years of age are the biggest U.S. organic food buyers in America (Organic trade association, n.d.) When it comes to the consumer demographics of the Loving Organic Foods survey, the results based off the histogram reflect ages 41-50 as being the highest group to have previously purchased organic foods with a frequency of 25, followed up by the second highest group which is the 31-40 age bracket with a frequency of 23. Lastly the third highest group was that of the 21-30 age bracket with a frequency of 22. The Loving Organic Foods varies from the OTA’s 2017 survey due to the fact that the OTA’s survey only targeted the millennial parents with kids, and that the Loving Organic Foods survey targeted various different age groups even though 124 responded out of the entire 200 surveys that were sent out. Conclusion The Organic Food Industry is on a steadily incline, due to the ever-changing attitudes and behaviors resulting from self-conscious and health-conscious organic food consumers. This has caused the Organic Food Industry/Market to soar in total revenues that has out shined its counter parts. By utilizing the histogram to help analyze the age data given for the Loving ORGANIZATIONAL STRUCTURE AND CULTURE 5 Organic Foods survey, it was able to determine the age bracket of which age group had the highest previously purchased organic foods, and it also help shine the light on the motivation behind the purchases. ORGANIZATIONAL STRUCTURE AND CULTURE 6 References Chait, J., (2019, November 20). The balance small business. Who Buys Organic Food: Different Types of Consumers. Retrieved from: https://www.thebalancesmb.com/who-buysorganic-food-different-types-of-consumers-2538042 Duram, L.A, (2019, October 09). Organic Food. Retrieved from: https://www.britannica.com/topic/organic-food EBSCOhost. (2017) MarketLine Industry Profile: Organic Food in the United States, 1-35. Retrieved from: http://search.ebscohost.com.ezproxy.trident.edu:2048/login.aspx?direct=true&db=bth&AN=1 23685470&site=ehost-live Economic Research Service, (2019, October 09). United States Department of Agriculture. Organic Agriculture. Retrieved from: https://www.ers.usda.gov/natural-resourcesenvironment/organic-agricukture/organic-market-overview.aspx Organic trade association, (n.d.) Consumer Attitudes and Beliefs Study. Retrieved from: https://ota.com/resources/consumers-attitude-and-beliefs-study Bin 30 40 50 60 70 80 Frequency 22 23 25 21 20 13 Loving Organic Foods Previously Purchased Organic Foods Interval 21-30 31-40 41-50 51-60 61-70 71-80 30 20 10 0 21-30 31-40 41-50 Loving Organic Foods 41-50 51-60 Ages 61-70 71-80 57 34 25 70 58 62 32 71 25 38 54 70 36 35 64 74 58 41 26 73 34 52 57 28 58 24 23 55 45 41 39 count minimum maximum range width of bin number bins 124 21 78 57 10 7.8 Interval 21-30 31-40 41-50 51-60 61-70 71-80 Loving Organic Foo Previously Purchased Organic Foods Age Data from Survey Response 42 65 70 38 34 41 51 38 44 37 47 75 52 68 29 73 66 61 38 65 23 42 57 75 30 47 23 48 78 41 28 47 34 75 23 40 44 36 56 21 21 68 62 39 59 65 38 74 72 70 24 45 42 33 43 35 63 34 48 66 68 60 24 67 46 40 32 64 53 49 46 43 48 78 77 43 48 44 56 27 27 54 66 38 78 30 28 60 57 24 29 58 57 30 20 10 0 Mean: 48 Median: 46.5 Mode: 38 21-30 31-40 41-50 Upper bounds of bins 30 40 50 60 70 80 Frequency 22 23 25 21 20 13 Loving Organic Foods 41-50 51-60 Ages 61-70 71-80 ... Purchase answer to see full attachment