statistical analysis of a private laundry firm

STATISTICAL BUSINESS DECISION

TERM PROJECT

STUDY OF CO2

SUBMITTED TO

DR. SARABJIT SINGH

LECTURER-STATISTICAL BUSINESS DECISION

SUBMITTED BY

SHYAMLI RAI (2013279)

SIRSA MAJUMDER (2013282)

SOUMITRA KANSABNIK (2013287)

SOURYA BHATTACHARYA (2013288)

TOSHA DUBEY (2013306)

VINEET AGARWAL (2013323)

Page1 Analysis of Co2

INDEX


ACKNOWLEDGEMENT---------------------------------------------------------------- 41. INTRODUCTION-------------------------------------------------------------------------- 52. RESEARCH OBJECTIVE---------------------------------------------------------------- 53. METHODOLOGY ADAPTED---------------------------------------------------------- 54. TYPES OF DATA USED----------------------------------------------------------------- 55. ANALYSIS OF PRIMARY DATA------------------------------------------------------ 106. ANALYSIS OF SECONDARY DATA------------------------------------------------- 17

6.1. ANALYSIS NO.1---------------------------------------------------------------------- 176.2. ANALYSIS NO.2---------------------------------------------------------------------- 196.3. ANAYSIS NO. 3----------------------------------------------------------------------- 20

7. LIMITATIONS FACED-------------------------------------------------------------------- 228. SUMMARY---------------------------------------------------------------------------------- 229. BIBLIOGRAPHY-------------------------------------------------------------------------- 22


ACKNOWLEDGEMENT

I express my deepest and most sincere thanks to my project guide Dr. Sarabjit Singh, Professor, IMT Nagpur. The project could not be completed without his able support, knowledge sharing and guidance, for helping me and providing me with useful information.

I take this opportunity to thank all of my colleagues, without their cooperation it was not possible to complete this project.


1. INTRODUCTION:

CO2 or Campus Oxygen is a student run venture of IMT Nagpur. It includes laundry service, printing service and delivery of newspaper available in the campus for the last two years. The organization has an operation facility in one of the hostel room provided by the college. The laundry service takes place in one of the washrooms provided by the college.

Different statistical methods have been taken up to give a overall idea about this venture. Study taking some primary data from the different students of IMT that includes both first year and second year. Study of some secondary data is done taken from Campus Oxygen owner to study various activities of their venture.

2. RESEARCH OBJECTIVE:

To use various statistical method in real time ventures started by student managers in the B-School.

3. METHODOLOGY ADAPTED:

Various Statistical methods are adapted in order to analyze the operation of CO2.Some of them are as follow:

Quantitative data graphs Mean, Median & Mode Correlation & Regression Hypothesis test (Z-test) Chi-square test

4. TYPES OF DATA USED:

A survey has been contacted in the IMT-Nagpur campus for 5 days where we got views of 59 students which we are using as a sample. These 59 students may or may not avail the services of CO2.


Secondary data collected from CO2 for a period of one month

DAY-WISE NO OF CONSUMERS IN A MONTH

DAY MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAYWEEK NO.

1 20 43 25 21 20 332 19 33 22 12 43 253 16 22 32 41 29 214 17 20 13 30 15 55 31 16

TOTAL 103 134 92 104 107 84

DAY-WISE NO OF CLOTHES RECEIVED IN A MONTH

DAY MONDAY TUESDAYWEDNESDA

Y THURSDAY FRIDAY SATURDAYWEEK NO.

1 303 585 278 239 270 4252 215 407 256 182 549 3563 209 325 384 556 368 2994 225 271 194 371 243 625 449 212

TOTAL 1401 1800 1112 1348 1430 1142

5. ANALYSIS OF PRIMARY DATA

Questionnaire has been made and asked to random students of IMT which fetched us a numerous data. Most importantly the datas are reduced so that they are more manageable and can be used to assist decision makers more effectively. The classical methods of analyzing the data are:

Quantitative Data Graphs Histogram Frequency Polygon Ogive Dot Plot Stem and leaf plot


Qualitative Data Graphs Pie charts Bar charts Pareto charts

We have used the Qualitative Data Graphs to analyze the data

Summary of the primary data is as follows:

Q1

Have you ever availed the services of

CO2 ?

NO. OF SELECTION

%age

ANSWER

YES 39 66.10

NO 20 33.90

TOTAL 59

YesNo

05

10152025303540

Have you ever availed the services of CO2 ?

Have you ever availed the services of CO2 ?

The data analysis clearly shows the popularity of CO2 in the campus. About 66.1 % of the student avail one or the other services provide by CO2.

Q2If not which

laundry service you prefer ?

NO. OF SELECTION

%age

C 11 18.64 D 6 10.17 Dispensary 7 11.86

Self Wash 21 35.59 CO2 14 23.73

TOTAL 59


19%

10%

12%

36%

24%

If not which laundry service you prefer ?C D Dispensay block Self Wash Co2

The above analysis shows the use of Pie-chart which show the relative magnitudes of the parts to the whole. Here it is showing that people are more fond of washing their own clothes than giving it to CO2 where as in the case of laundry service CO2 is way ahead than any other service available in the campus.

Q3

From where do you avail the

printing service?

NO. OF SELECTION

%age

A 5 8.47

B 8 13.56

C 23 38.98

D 0 0.00

APO Block 20 33.90

CO2 3 5.08


A B C D APO Blok CO20

5

10

15

20

25

Series1

When the question of printing service arises; printing service of C-block leave others way behind where as venture of CO2 really lags behind in this case with just 5.08% of popularity.

Q4

Which newspaper did

you subscribe ?

NO. OF SELECTION

%age

TOI 4 6.78

ET 32 54.24

BOTH 10 16.95 NONE 13 22.03

TOI ET BOTH NONE0

5

10

15

20

25

30

35

Which newspaper did you subscribe ?

Which newspaper did you subscribe ?

The above bar graph analysis shows the differences in popularity of the two types of newspaper supplied by CO2. Though the demand of Economic Times is way ahead than TOI.


Q5

Have you subscribed for the magazine

'THE ECONOMIST’?

NO. OF SELECTION

%age

YES 8 13.56

NO 51 86.44

Yes No0

10

20

30

40

50

60

Have you subscribed for the magazine 'THE ECONOMIST' ?

Have you subscribed for the magazine 'THE ECONOMIST' ?

The above bar graph shows the poor popularity of the magazine ‘THE ECONOMIST’. About 87% of the student didn’t subscribe for this business magazine.

Q6

How will you rate the

services of CO2 on a scale of 1-5; 1 being the lowest and

5 being the highest ?

NO. OF SELECTION

%age

1 2 3.392 24 40.683 22 37.294 6 10.17

5 5 8.47

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e10Analysis of Co2

1 2 3 4 50

5

10

15

20

25

How will you rate the services of CO2 on a scale of 1-5; 1 being the lowest and 5

being the highest ?

How will you rate the services of CO2 on a scale of 1-5; 1 be-ing the lowest and 5 being the highest ?

We have asked students to rate CO2 on the basis of different services provided by them from 1 to 5. About 41% of the students have rated them 2, 37% of the students have rated them 3 which seems to be a quite poor performance.

Q7

Are you satisfied with

the services of CO2 ?

NO. OF SELECTION

%age

Yes 9 15.25

No 12 20.34

15%

20%

44%

20%

Are you satisfied with the services of CO2 ?

YesNoSo soNot much

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e11Analysis of Co2

When the question of satisfaction comes from the point of view of customers; the above pie chart shows that 44% of the students are moderately satisfied, 15% of the students are fully satisfied; that comprises the maximum part of the student survey.

Q8

Which service of CO2 satisfy you the most ?

NO. OF SELECTION

%age

Laundry Service 18 30.51

Newspaper 25 42.37

Printing 16 27.12

Laundry Service

Newspaper

Printing

0 5 10 15 20 25

18

25

16

Which service of CO2 satisfy you the most ?

It shows that students are happy mostly with the news paper service whereas printing service is not so much satisfactory from the point of view of students.

Q9

What will make you avail the services of

CO2 more frequent ?

NO. OF SELECTION

%age

Ironing service along with

laundry 12 20.34

Cheaper Rate 15 25.42Increase speed

of delivery 23 38.98Varity in business magazine 3 5.08

Providing more frequent offers

for the 6 10.17

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customer

20%

25%39%

5%10%

What will make you avail the services of CO2 more frequent ?

Ironing service along with laundryCheaper RateIncrease speed of deliveryVarity in business magzineProviding more frequent offers for the customer

From the survey conducted it is showing that 39% of the students will avail the service more frequently if the speed of delivery increases may it be delivery of newspaper or the clothes after washing. 26% of them will avail it more frequently if the rates become cheaper while very few of them are interested in wide range of magazine availability.

6. ANALYSIS OF SECONDARY RESULTS

6.1. ANALYSIS NO 1:

THEORY USED: MEAN, MEDIAN & MODE.

MEAN: It is the average of a group of numbers and is compared by summing all numbers and dividing by the number of numbers. Because the arithmetic mean is so widely used, most statisticians refer to it simply as the mean.

MEDIAN: It is the middle value in an ordered array of numbers. For an array with an odd number of terms, the median is the middle number. For an array with even number of terms, the median is the average of the two middle numbers.

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e13Analysis of Co2

MODE: It is the most frequently occurring value in a set of data. In the case of a tie for the most frequently occurring value, two modes are listed. Then the data are said to be bimodal.

OBJECTIVE: Calculating Mean, Median and Mode for the following data which describes the no. of customers giving different range of the no. of clothes to CO2 for wash in a particular week.

No. of clothes

1-5 6-10 11-15 16-20 21-25 26-30 31-35 36-40

No. of customers

10 43 45 18 5 1 1 4

No. of clothes

Continuous distribution

No. of customers (f)

x fxCumulative frequency

(C)1-5 0.5-5.5 10 3 30 106-10 5.5-10.5 43 8 344 5311-15 10.5-15.5 45 13 585 9816-20 15.5-20.5 18 18 324 11621-25 20.5-25.5 5 23 115 12126-30 25.5-30.5 1 28 28 12231-35 30.5-35.5 1 33 33 12336-40 35.5-40.5 4 38 152 127

Mean = ∑fx/∑f

= 1611/127

= 12.685

Hence, the mean no. of clothes per customers is 12.685 ≈ 13

Median = l1 + (N/2-C)/f x i

= 10.5 + (63.5-53)/45 x 5

=11.67 ≈ 12

Where,

l1 = Lower boundary of median class (here, 11-15)N = Total frequencyF = Frequency of the Median classC = Cumulative frequency below l1

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I= IntervalHence, half of all the customers give no. of clothes above 12 and half of them gives no. of clothes below 12 to CO2 for wash.

6.2. ANALYSIS NO 2:

THEORY USED: CORRELATION

CORRELATION: It is a measure of the degree of relatedness of variables. It can help a business researcher determine, for example, whether the stocks of two airlines rise and fall in any related manner.

OBJECTIVE: To study the co-relation between the most used venues for student activities. It is a rank co-relation using primary data.

elements Printing (X) Laundry (Y) x y D D2

c-block 23 11 1 2 -1 1d-block 0 6 3 3 0 0

Co2 3 14 2 1 1 1

R= 1 – 6 D 2 N (N2-1)

Therefore,

R= 1-6*2/ 3 (9-1) =0.5

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Thus, we see that there is no inclination towards any particular venue for availing its services. Choice is predominantly based on availability of service, distance from one’s room and personal biases.

6.3. ANALYSIS NO 3:

THEORY USED: HYPOTHESIS TEST

HYPOTHESIS TEST: A foremost statistical mechanism for decision making is the hypothesis test. The concept of hypothesis testing lies at the heart of inferential statistics, and use of statistics to ‘prove’ or ‘disprove’ claims hinges on it.

CHI-SQUARE GOODNESS-OF-FIT TEST: It is used to analyze probabilities of multinomial distribution trials along a single dimension.

OBJECTIVE a.: To determine whether the no. of clothes given to the CO2 for washes is greater on one day of the week than on another. The record for one month of the no. of customers’ clothes (data collected from CO2) shows the following distribution:

Day of the week

Monday Tuesday Wednesday Thursday Friday Saturday

No. Of Clothes

1401 1800 1112 1348 1430 1142

H0 : no. of clothes given to the CO2 for wash is uniformly distributed.H1 : no. of clothes given to the CO2 for wash is not uniformly distributed.

Day of the weekObserved value

(O)Expected Value

(E)O-E (O-E)2/E

Monday 1401 1372.17 28.83 0.61Tuesday 1800 1372.17 427.83 133.39

Wednesday 1112 1372.17 -260.17 49.33

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Thursday 1348 1372.17 -24.17 0.43Friday 1430 1372.17 57.83 2.44

Saturday 1142 1372.17 -230.17 38.61

χ2 = ∑(O-E)2 / E

= 224.81

Degree of freedom = N-1 = 5

Significance level = 5%

Critical Values of χ2 at Degree of freedom 5 and 5% significance level from the table is 11.0705

As χ2 224.81 lies in the rejection region. So, H0 is rejected.

That means no. of clothes given to the CO2 for wash from Monday to Saturday is not uniformly distributed. There is a huge fluctuation in the no. of clothes given per day.

OBJECTIVE b.: To determine whether the no. of customers arriving CO2 for giving their clothes is greater on one day of the week than on another. The record for one month of the customers (data collected from CO2) shows the following distribution:

Day of the week

Monday Tuesday Wednesday Thursday Friday Saturday

No. Of customers

103 134 92 104 107 84

H0 : no. of customers arriving CO2 for giving their clothes is uniformly distributed.H1 : no. of customers arriving CO2 for giving their clothes is not uniformly distributed.

Day of the week Observed value (O)

Expected Value (E)

O-E (O-E)2/E

Monday 103 104 -1 9.62X10-3

Tuesday 134 104 30 8.65Wednesday 92 104 -12 1.38

Thursday 104 104 0 0Friday 107 104 3 0.69

Saturday 84 104 -20 3.85

χ2 = ∑(O-E)2 / E

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= 13.98

Degree of freedom = N-1 = 5Significance level = 5%Critical Values of χ2 at Degree of freedom 5 and 5% significance level from the table is 11.0705As χ2 13.98 lies in the rejection region. So, H0 is rejected.That means no. of customers arriving CO2 from Monday to Saturday to give their clothes for wash is not uniformly distributed. There is a huge fluctuation in the no. of customers per day.

7. LIMITATIONS FACED:

1. Though CO2 helped us in every possible respect but financial data was not available with us which if available could have made us study more thoroughly the financial analysis.

2. More number of samples could have fetched us more accurate data analysis.

8. SUMMARY

Collecting samples was the most important aspect of this study. Having a number of samples reducing it by grouping them gave us more clear aspects. Then study has been done with the help of MS-EXCEL that gave us clearer view of the performance of CO2 in the campus. This study gave us more practical and real time approach as to how statistics should be used in both macro and micro level

The study made shows us that performance of CO2 is quite satisfactory and happily acceptable among the students. Therefore CO2- a successful student’s venture.

9. BIBLIOGRAPHY

1. Black, K.(2013), Applied Business Statistics : Making Better Business Decisions, International Student version, John Wileys-India Publication

2. Kanji, Gopal K. (2006), 100 Statistical Tests, Vistar Publications, NewDelhi

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statistical analysis of a private laundry firm

Data & Analytics