Due to financial hardship, the Nyke Shoe Company feels they only need to make one size of shoes, regardless of gender or height. Because they want to reduce production cost to get survive from the financial crises. This analysis of shoe size would help them to resolving the problem.
The data from the company has 3 variables which are shoe size, height and gender, sample size is 35 people for the analysis. The shoe size is the dependent variables and gender and height are the independent variables.
Analyze the Data and Interpret the Results
Firstly, from the data of shoe size and height, I find the values of mean, mode and median. The results are for the shoe size, the mean, mode and median are 9.1429, 7 and 9; for the height, the mean, mode and median are 68.9429, 70 and 70. From the analysis that we can see the size 7 that is repeated more often than any other size of shoes, it means more people would choose shoes for size 7. Thus, it indicates the size 7 maybe the best size for Nyke Shoe Company to make more profits and reduce cost of production. Additionally, from the results of sales that there are 18 females bought shoes which is 51.43% of shoes production and 48.57% for males. In order to have more evidences to prove the analysis, I would use scatter plot to analyze the set of points which are between shoe size and height. Shoe size would be dependent Variable and height is independent Variable. The graph indicates that 2 variables have a large correlation exists, the points cluster from lower left to upper right, there is a positive correlation, and we can see more points cluster at size 7 that means it is the size will be sold more than other sizes.
In addition, I think the regression analysis can interpret the relationships between shoe size and height as well. The confidence interval is 95%, the confidence interval is (8.256, 10.030). from the result, the size 7 is excluded in the interval, the value does not match to the results from the above, the size 7 should be the best choice for the company to overcome financial hardship.
According to the results from different statistical methods, I would recommend the Nyke Shoe Company to produce size 7 as the only one size to reduce the cost of production and make more profits so that they can be recovered from the difficult time as soon as possible.