Hi, I am a first-year business student that is taking a stats class. I have a report assignment with the requirement of an executive survey and certain purposes for the client, who owns a furniture shop.
The objectives were:
1. Profile of customers-Age, gender, disposable income...
2. Spending habits-What, materials purchased, number of items...
3.How they found out about them
4. Proportion of budget spent in the shop
5. Customer satisfaction and what they wanted to see more of
Lastly, the client also requires specific insights such as
1. Did the majority of customers purchase wood rather than MDF? Does wood make up more than 50% of sales?
2. Of the customers who purchase wooden products, do they spend more than those who purchase MDF products?
I am slightly confused to when should I use inferential stats and when to use descriptive stats? Also, is there any recommendation of 2 sets of objectives that I can combine in a graph, and the right way to write an executive summary for these kind of report? Thank You.
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