Walmart Inc. (formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquartered in Bentonville, Arkansas. The company was founded by Sam Walton in nearby Rogers, Arkansas in 1962 and incorporated under Delaware General Corporation Law on October 31, 1969. It also owns and operates Sam's Club retail warehouses.
The Management team at Walmart Inc. wants to analyze the customer purchase behavior (specifically, purchase amount) against the customer’s gender and the various other factors to help the business make better decisions. They want to understand if the spending habits differ between male and female customers: Do women spend more on Black Friday than men? (Assume 50 million customers are male and 50 million are female).
- Tracking the amount spent per transaction of all the 50 million female customers, and all the 50 million male customers, calculate the average, and conclude the results.
- Inference after computing the average female and male expenses.
- Use the Central limit theorem to compute the interval. Change the sample size to observe the distribution of the mean of the expenses by female and male customers.
- Use the sample average to find out an interval within which the population average will lie. Using the sample of female customers you will calculate the interval within which the average spending of 50 million male and female customers may lie.