Mission 2 - Consumer Psychology - Final (1)

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Harvard University *

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E150

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Statistics

Date

Feb 20, 2024

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docx

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Uploaded by mzaid0001

STAT E-100 Spring 2024 Mission 2: Consumer Psychology Study Context 1) During Lecture 3, we explored a dataset called “Customer Personality Analysis” on Kaggle ( https://www.kaggle.com/datasets/imakash3011/customer-personality- analysis ). In under 250 words sentences, what could be several aims or reasons for collecting this data? In other words, how might findings from this study provide value for a stakeholder (e.g., business owner, entrepreneur, marketer, consumer psychologist, etc.). The Profile of a Customer To receive full credit, please include the R code and the output from R Studio. 2) Using the variable ‘Income’, calculate the mean and median income. What does the difference in the mean and median incomes suggest about the skewness of the distribution of income? 3) Using the variable ‘Year_Birth’, generate a density plot. Customers from around which year most frequently represented in this sample? How might this information benefit the owner of the business? If the store owner knew the year of birth of frequent customers, what action(s) might the store owner be able to take? 4) Using the variable ‘Marital_Status, generate a table listing the percentage of marital statuses. If the store owner knew the distribution of marital status across customers, what action(s) might the store owner be able to take? Purchasing Behavior 5) If you compare the average purchases from the web (NumWebPurchases), catalogs (NumCatalogPurchases), and in-store (NumStorePurchases), which is the highest? If the store owner knew where the orders were coming in from, what action(s) might the store owner be able to take? 6) What is the 95 th percentile for MntGoldProds? Explain the interpretation of this value in context to somebody who is not familiar with percentiles. 7) Compare the standard deviation of MntMeatProducts and MntGoldProds. Explain the interpretation of these values in context to somebody who is not familiar with the idea of a standard deviation. 8) Using the variable ‘Recency’, generate a boxplot. Indicate the actual or approximate value of Q1 (25 th percentile), Q2 (50 th percentile), and Q3 (75 th percentile). Interpret in context what these values mean for the business.

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