Top 10 Products by Average Price Each: Printer Leads Significantly
Average Price Each for Top 10 Products
Key takeaway: The Printer has the highest price per unit, significantly higher than all other products, indicating it may be a premium product or have higher value features.
The dataset provides information about product orders, including order ID, product name, quantity, price, and order date. The ranking chart shows the aggregated values for each product, focusing on the price per unit. The Printer has the highest price per unit at $134.22, followed by the Mouse at $114.88, and the Tablet at $111.73. The Headphones have the lowest price per unit at $72.68.
The statistical test results, specifically Cohens d values, measure the effect size of the average price per unit for each product. The Printer has a Cohens d value of 3.18, indicating a very large effect size and confirming its significantly higher price compared to other products. The Mouse and Tablet also have positive Cohens d values of 1.24 and 0.92, respectively, suggesting they are priced higher than the average product. On the other hand, products like the Laptop and Headphones have negative Cohens d values of -2.10 and -3.00, respectively, indicating they are priced significantly lower than the average product.
In summary, the Printer stands out as the most expensive product by a large margin, while the Mouse and Tablet are also relatively high-priced. Conversely, the Laptop and Headphones are among the least expensive products in the dataset. This information can be useful for pricing strategies, inventory management, and understanding product value in the market.