I am trying to work a case problem, I have to take a group of numbers and using the data by product line, there is three different products lines, I need to compile a breakdown of sales by product then give a total of all three. then I need to find the expected sales for each product if the total of all 3 is equal to 100,000 total units. Can you give me some advice on where to start?
thanks
Nancy
This does not look like statistics. It looks like extrapolation.
Assume the sales breakdown gives you sales of S1, S2 and S3, with a total T = S1 + S2 + S3.
If you sold 100,000, the new sales amounts of each product would be
S1' = S1*(100,000/T)
S2' = S2*(100,000/T)
S3' = S3*(100,000/T)
Certainly, Nancy! To start, you'll need to organize your data based on the different product lines. Here's a step-by-step approach to help you:
1. Review your data: Take a look at the dataset you have and identify the columns that contain the product line information and the corresponding sales data.
2. Filter the data: Filter the dataset to separate the data by product line. Create three separate subsets or tables for each product line.
3. Calculate the product-wise sales breakdown: For each product line, sum up the sales data to get the total sales for that product line. You can use a spreadsheet or statistical software to simplify this process.
4. Calculate the overall sales total: After obtaining the breakdown for each product line, add up the total sales across all three product lines.
5. Analyze the expected sales: Since you want the total of all three product lines to be equal to 100,000 units, you'll then need to allocate the expected sales proportionally across the products. Divide the expected sales total (100,000 units) by the actual total sales you calculated in step 4. This will give you the proportion of the total that each product line represents.
6. Calculate the expected sales for each product line: Multiply the proportion obtained in step 5 by the actual sales breakdown for each product line. This will give you the expected sales for each product line.
By following these steps, you'll be able to compile the breakdown of sales by product line and calculate the expected sales as required.