Inferential Statistics, assignment help

Create an inferential statistics (hypothesis) test using the research question and two variables your learning team developed for the Week 2 Business Research Project Part 1 assignment. Include:

The research question
Mock data for the independent and dependent variables

Determine the appropriate statistical tool to test the hypothesis based on the research question.

Conduct a hypothesis test with a 95% confidence level, using the statistical tool.

Write an interpretation of no more than 350-words of the results and provide your findings.

Format your paper consistent with APA guidelines.

Submit both the spreadsheet and the paper to the Assignment Files.

BUSINESS RESEARCH PROJECT PART 1

Company Overview

Department store credit cards that are linked to explicit retail stores. Credit cards are accessible to people who have an average to excellent financial credit. Not everyone is approved for department store credit cards. Company XYZ Department Store is in Phoenix, Arizona and has a great deal of people who shop at department stores. At Company XYZ Department Store men and women enroll in the store credit card to participate in the store’s saving. Company XYZ has a secure credit card that allows customers to take advantage of financing offers and attractive bonuses. At Company XYZ they offer an extended 0% intro term or offer an impressive discount on their first purchase.

Purpose Statement

The main purpose is the get more people to enroll in the Company XYZ department store credit card. The men’s department sales grew 39% from 2009 to 2014 (Homma,2015), while the women department sales grew 52%. (Homma,2015) For every Company XYZ credit card used at the store, Company XYZ makes 5%. If the customer uses another credit card for example VISA, Master Card or American Express, Company XYZ will pay those companies 2%.

Identify the problem

In identifying the company’s problem, Company XYZ needs to increase their credit card enrollment. Their sales must increase in the men and women departments to entice more visits. The enrollment number are low and needs to engage all customers to encourage them to enroll in Company XYZ credit card. What gender does Company XYZ should concentrate on, during the enrollment plan?

The purpose statement for this research project is identifying the credit card enrollment effect of men and women and the company maintaining customer’s loyalty.

Research Questions:

Is the department store credit card enrollment for Company XYZ higher among males or females?

How has Company XYZ impacted males or females 18-25 applying for a credit card in the last four years?

Research Design

Null Hypothesis – There is no difference in the department store credit card enrollment among males and females.

Alternative Hypothesis – The average number for credit card enrollment for Company XYZ is higher among females than males. Based on an online survey, the percentage of females is 63.57 and 36.43 for males.

2nd Hypothesis statement

Company XYZ allows a store credit card when most banks would decline the application. A vast majority of this age group are college students and “the credit card Act of 2009 bans credit card approvals for anyone under 21 years old unless they have an adult co-signer” (Holmes, 2014). A store card limits the risk of inability to pay as it can only be used for store merchandise. In doing so, the young consumer can build credit to assist with future credit and lending needs.

Variables

Independent:

The actual business transaction in processing department store credit card has increased dramatically in just the past few years. At Company XYZ, they offer an assortment of ways to make payments easy, whether it’s wired and wireless. The terminals also support mobile swiping and the Apple Pay feature.

The market (rural, suburb, city), the living environment makes a difference running a large business. The city will bring in more people who work or live in that city area.

Dependent:

New customers’ open department credit cards to increase their overall credit limit. They would be able to use the card just to keep up the utilization. Company XYZ offers many sales keeping the new customers utilizing the card at a rate below 30% which would help prove the person not to be a risky borrower. Continuous saving on sales new customer would spend about $1,200 on their cards each month; I could lower their utilization from about 25% to about 15% (Lowry,2014).

Company XYZ offers fantastic customer service with great customer support. They have transparent pricing with no additional fees, discounted rates for non-profit organizations and a full range of services and equipment at the storefront.

Reference

Holmes, Tamara E. 2014. Credit Card Ownership Statistics. Credit Cards.com

http://www.creditcards.com/credit-card-news/owners…

Ayako Homma, November 2015 Men’s Spending on Accessories Rises in the US

http://blog.euromonitor.com/2015/11/accessorising-…

Erin Lowry May 2014, Building Credit, The Only Reason to Open a Store Credit Card

http://www.magnifymoney.com/blog/building-credit/t…