I have a final due tomorrow. I have attached the word document with an excel workbook (which is more of a scratchpad). The question is "
Due to financial hardship, the Nyke shoe company feels they only need to make one size of shoes, regardless of gender or height. They have collected data on gender, shoe size, and height and have asked you to tell them if they can change their business model to include only one size of shoes- regardless of height or gender of the wearer. In no more 5-10 pages (including figures), explain your recommendations, using statistical evidence to support your findings. The data found are below:" The basic size and height data is in the excel doc. I just want to know if I supported my position with my statistics and if my calculations are correct. Also, if you think I should add anything else. Thank you
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23 July 2013 Ruel Falkenburg Principles of Statistics STA-201 May13 Final Assignment Due to the financial hardship that Nyke Shoe Company has seen in recent years, I have conducted an analysis to see if it will be feasible to limit shoe production to one size, regardless of gender or height of our customers. This market strategy will give our company the ability to reshape itself from a mass produced shoe manufacture to a specialty manufacture. After conducting an initial market analysis I have determined that our best strategy is to market this single size shoe to both female and male customers. Other companies, such as INOV8 out of the United Kingdom, have adopted this strategy with great success. I took the sample data that was provided and converted all of the shoe sizes to a common size using the male size for the basis of the data analysis.
This conversion is simple and involves subtracting 1.5 sizes from the female size to obtain the equivalent male size. If this study finds that this market strategy is feasible we will mark shoes with both their male and female sizes. I also compared the linear regression of Male shoe size to height, Female shoe size to height, and standard shoe size to height. Even though we will not be marketing the shoe size based directly on height I wanted to determine if shoe size could be reasonable determined by a persons height to help validate my final recommendation.
It resulted in the following: By observing that the Coefficient of determination is closer to one we can conclude that Height can be used to make predictions on size vs. height. Also, by comparing the Male (.77396) and female (.67933) I can determine that there is not a significant difference in the Coefficient of Determination between those and the for the standardized shoe size values (.68612). I interpret this as validating my use of the standardized shoe sizing as it relates to height for this analysis. The and the Residual Analysis of...