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Probability and Statistics Project

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29 views

Probability and Statistics Project

Uploaded by

aveerasampathkumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Probability and Statistics Project Report

Veera Sampath Kumar Reddy Alavalapati

2199279
Eds 6333

CardioGood wants to increase sales by identifying product line modifications based on consumer
profiles. Both categorical and numerical variables will be evaluated. Male or female, single or in
relationship, and level of fitness as judged by oneself are categorical factors (1 to 5). Age (years),
education (years), annual family income ($), the average number of times a client plans to use the
treadmill per week, and the average number of miles a client expects to run or walk are all
considered to be quantitative variables.

'Age' by 'Product' and 'Marital Status'

TM195
Product

TM498

TM798

0 5 10 15 20 25 30 35
Age

Partnered Single
TREADMILL 1 (TM195):

Description of variable of consumers who bought TM195 model.

Out of the total people who purchased TM195 model ,there are equal number of males(40) and
females(40) and 32 of them are single. Average of consumers usage of this product TM195 is 3 days
per week and the average miles ran per week is 82.78.Fitness level on an average is 3.The average
annual salary is 46000 dollars

TREADMILL 2 (TM498):

Description of variable of consumers who bought TM498 model

Out of the people who purchased the product TN498 there is a slight difference in males (31) and
females (29) and 24 of them are single. Average of consumers usage of this product TM498 is 3 days
per week and the average miles ran per week is 87.9.Fitness level on an average is 2.9.The average
annual salary is 49000 dollars.
TREADMILL 3 (TM798):

Description of variable of consumers who bought TM798 model

Out of the consumers who purchased the product TM798 most of the consumers are males(33) and
23 of them are partnered. Average of consumers usage of this product TM798 is 4.8 days per week
and the average miles ran per week is 166.9.Fitness level on an average is 4.6.The average annual
salary is 75000 dollars.

Hypothesis Testing:

LARGE-SAMPLE TESTS FOR DIFFERENCE BETWEEN TWO MEANS


Conclusion

On an average male usage of treadmill is higher than that of female usage.the treadmill buyers
average age is 28,while the median age is 26.Overall treadmill TM195 is the most popular while
TM498 is the least popular and among females treadmill TM195 is the least popular and it is mostly
used by males.TM195 and TM498 are mostly used by customers with income under 60000 $ which
may be because of the relatively high cost of TM798.From these findings we can motivate customer
to upgrade from their currently used treadmill to TM798 by stressing on the additional benefits that
TM798 offers.This model should be promoted as a relatively fitness guaranteed treadmill and apt
product for everyone
.

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