What is the variable?
What is the variable?
August 17, 2020 Comments Off on What is the variable? Uncategorized Assignment-helpRead the following discussion post and then respond to it using the guidelines at the bottom.Describe the key question: The main question here is whether or not Target in Kissimmee is facing lower sales due to less tourism. The store in Kissimmee is one of the highest grossing stores in the area due to its location, right by Disney. The actions that are being questioned here would be whether or not to cut payroll and hours for employees. Less sales means less revenue which in turn leads little room for expenses like payroll. Management is deciding based on needs and sometimes the store can be understaffed.What is the variable? How would you set up the hypothesis test? First, pick an appropriate variable to measure the element in question (Note that this must be specific and measurable (countable)). Then, state what the null and alternative hypotheses would be and what kind of a test you would use.The variable to look at here is the amount of sales per day.Null hypothesis: The amount of sales per day = the amount of tourism per day.Alternate Hypothesis: The amount of sales per day is < or > the amount of tourism per day.Describe the data you would use: The data needed would be the amount of sales the store is bringing in per day now and the amount of sales per the exact same day from the previous year. With the country/area going through a pandemic, it is best to look at the sales from the current year and the past year. Tourism is definitely down as Disney and Universal were closed for a while so the amount of tourism is hard to judge but can verified that it is down at the moment. The data already exists for the amount of sales per day from the previous year. The amount of sales per day for past days already exists where as the amount for future days would be collected as those days pass.How would you explain to management the significance of this test?Convincing management that this is necessary would by going at it through an accounting route. When looking at sales, that is money coming in where as when we look at payroll, that is an expense and money going out. If we have less revenue we will want to cut down on payroll where as if we have more sales, we might not have to cut payroll. When it comes to using tourism, we can look at how our sales were the previous year when the country was not in a pandemic which means there would have been more people traveling. The drawbacks from not using this hypothesis is that we can end up being overstaffed or understaffed. If we are overstaffed, we have a higher payroll which means we have less of a profit. However, if we are understaffed, we can run into the issue that we are struggling as a team. By looking at the previous year and the current year, we will be able to understand how tourism is effecting our sales which in turn would lead us to understand better how to staff our team with the correct amount of team members.—————————————————————————-There is often a benefit for the respondent as well. Responding to others on a substantive reflective level, it is possible to gain clarity on your own work. Sharing related personal experiences may also be part of a well-written response to other students but should not be the main focus.In responses to others consider things such as:Is the example and content clear? If you don’t think so, offer insight on why, or ask for clarification.Look for relevant answers to the discussion questions. Do all parts of discussion align with each other?Is there continuity among all the steps?Are there any insights or reflections you can offer?


