This is data from a small fast food business and the data is meant to take a look at the impact of take out out/disposable containers pricing before and after COVID19. An interpretation of the raw data is provided. The task is to decipher if it is statistically significant by taking a look through an econometrician perspective.
Interpret the data by doing the D-Stats (mean, variance, minimum maximum). Along with the Dependent Variable and the Independent variable Discreet/continuous.
An analysis is needed to see the viability of the data provided and if there is significance showing an in crease in pricing from before and after covid.
The top row on the excel sheet explaining what each column represents from left to right is:m as follows:
Items Desc – the types of to go containers that are repeated every year to see the pricing increase
FY – fiscal year
$/case – is the cost per case
Q/case – the number of units in a case (example: the number of paper plates in one case)
$Each – is the cost per individual item in a case
Consumer Price Index – is self explanatory
CPI Away Food – Consumer price index of away food (that is food that is prepared out of the household)
Made in the US – if the product is made in the us as 1 means yes and 0 means no
Logo – if the product is customized and has the logo of the business on the packaging 1 means yes and 0 means no
Retail price – is how much the item is sold to the customer (DEPENDENT VARIABLE)(gross)
Profit of each – is the amount of money that is made from the item (net) (***if this is better as the depended variable please state that and say why)This is data from a small fast food business and the data is meant to take a look at the impact of take out out/disposable containers pricing before and after COVID19. An interpretation of the raw data is provided. The task is to decipher if it is statistically significant by taking a look through an econometrician perspective.
Interpret the data by doing the D-Stats (mean, variance, minimum maximum). Along with the Dependent Variable and the Independent variable Discreet/continuous.
An analysis is needed to see the viability of the data provided and if there is significance showing an in crease in pricing from before and after covid.
The top row explaining what each column represents from left to right is:m as follows:
Items Desc – the types of to go containers that are repeated every year to see the pricing increase
FY – fiscal year
$/case – is the cost per case
Q/case – the number of units in a case (example: the number of paper plates in one case)
$Each – is the cost per individual item in a case
Consumer Price Index – is self explanatory
CPI Away Food – Consumer price index of away food (that is food that is prepared out of the household)
Made in the US – if the product is made in the us as 1 means yes and 0 means no
Logo – if the product is customized and has the logo of the business on the packaging 1 means yes and 0 means no
Retail price – is how much the item is sold to the customer (DEPENDENT VARIABLE)(gross)
Profit of each – is the amount of money that is made from the item (net) (***if this is better as the depended variable please state that and say why)