Statistical and Correlation Analysis of Avocado Sales Volume and Prices in the US Market, Insights for Uncovering Key Factors of Statistical Data Discovery

Abstract

Avocado consumption has witnessed rapid growth because of the change in lifestyle, leading to significant fluctuations in sales volumes and prices. The research delves into a statistical analysis of avocado sales in the US market from 2015 to 2016, with a specific focus on exploring the parameters of the statistical correlation between avocado sales volume and their prices. The primary research consists of comprehensive data analysis and visualisation to understand the statistical distribution, the trend and the relationship between avocado sales volumes and prices across various US markets using R language. The correlation analysis with non-parametric statistical Spearman test reveals a significant negative correlation between the two variables and rejects the null hypothesis based on no correlation between those variables. However, it is emphasised that correlation does not imply causality, which secondly interests us in uncovering the key factor behind the findings.

The research has not only identified the major factors and principles of the need for efficient statistical methods and techniques to enhance knowledge discovery in terms of data collecting, handling, and preprocessing the data but also highlighted unusual sale-price patterns and distribution that require more investigation in terms of quality, consistency, and interpretability. This underscores the necessity of conducting more research to find optimal prices better and understand the factors influencing avocado sales volumes and market tendency.