To: Director of Analytics, Boris Johns
From: Priya Acharya
Subject: Analysis of the provided data set
Dear Director of Analytics, Boris Johns,
The results of the analysis of the saving and shopping habits of our customers like the ones captured in the sample dataset received recently has been listed below.
The overall estimate of the average Total Spending for all customers is $4,353.6. With 95% confidence, it can be said that the average total spending by the customers lies in the interval ($4,4235.74, $4,471.45).
The overall proportion of customers based on five different Credit Cards (considering none as a group shows that for most cases, 32.50 %, a customer does not use a credit card. Followed by Bronze, Silver, Gold, and Platinum Credit Cards with 20.50, 16.00, 15.50, and 15.50in percentage, respectively. With 95% confidence, it can be said that the proportion of credit card usage by customers lies in the range from14.90% to 26.10% for Bronze Credit Cards,10.48% to 20.52%for Gold Credit Cards,10.48% to 20.52% for Platinum Credit Cards,10.92% to 21.08% for Silver Credit Cards, and finally, 26.01% to 38.99% of the customers don't use any credit cards (None).
There does appear to be a difference between the estimated average spending on Eating out by different Age Groups with the most money spent by 65-74 with average monthly eating outspend of $684.47 followed by 35-44, 45-54, 55-64 and 25-34 with average monthly eating out spending of $682.1, $661.36, $648.81 and $638.53, respectively. With 95% confidence, it can be said that the estimated average monthly eating outspend for customers within age range of 25-34, 35,44, 45,54, 55-64, and 65-74 are $618.31 to $658.75, $677.99 to $686.21, from $658.13 to $664.59, from $640.67 to $656.95 and finally from $665.10 to $703.83 respectively.
The does not appear to be a very strong relationship between the Monthly income and how much people save each month. There is a positive correlation between the two variables, but it is not significant to accept the trend.
The monthly income and how much people spend on eating out as well as on their groceries each month are highly correlated with both the spending habits increasing with monthly income.
The probability of monthly Income to be less than $3,500 is equal to 0.01, 0.03, 0.07, 0.07, 0.09 for 45-54, 35-44, 25-34, 65-74 and 55-64 respectively
The income that only 10% customers can achieve is equal to $5,641.39, $5,531.31, $5,473.40, $5,578.63 and $5,901.82 by 25-34, 35-44, 45-54, 55-64, and 65-74 respecitvely.
I hope this analysis will help you with your objectives.
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