Research Methodology Quantitative Techniques: Submitted To: Dr. K.R.R. Gandhi

RESEARCH METHODOLGY PROJECT GROUP B4
Group B4
Research Methodology
Quantitative Techniques
Submitted To:
Dr. K.R.R. Gandhi
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AUTHORS DETAILS
Vipul Gupta 18PGPM116
Md Arif Jamal 18PGPM090
Priya Patel 18PGM095
Sayan Choudhury 18PGPM105
Anirban MaZumdar 18PGPM070
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ACKNOWLEDGMENT
The satisfaction and euphoria that accompany a successful completion of any task
would be incomplete without the mention of people who made it possible, success is the
epitome of hard work and perseverance, but steadfast of all is encouraging guidance.
So with gratitude we acknowledge all those whose guidance and encouragement

served as beacon of light and crowned our effort with success. We are thankful to our
College-MDIM, for the platform that gave us encouragement and support throughout the
project work. We consider it a privilege and honor to express our sincere gratitude to
our guide Dr. K.R.R. Gandhi for his valuable guidance throughout the tenure of this
project work, and whose support and encouragement made this work possible. It’s also
a great pleasure to express our deepest gratitude to all the other faculty members for
their cooperation and constructive criticism offered, which helped us a lot during our
project work.
Finally we would like to thank all our family members and friends whose encouragement
and support was invaluable.
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Objective
The purpose of this project is to apply statistical tools for testing which company is best
among these three companies:
Flipkart
Amazon.com
Alibaba
Another objective of this project is to learn how to apply the statistical in real life
situations.
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Table of Contents
History: ..........................................................................................................................................................
Description of all Statistical Tools .................................................................................................................
Brief description of variables .......................................................................................................................
Market capitalization (I.V): .......................................................................................................................
Debt (I.V): ................................................................................................................................................
Revenue (D.V): .......................................................................................................................................
Descriptive Analysis ....................................................................................................................................
Analysis of Variance ....................................................................................................................................
Correlation Analysis of Flipkart ...................................................................................................................
Correlation Analysis of Amazon.com ..........................................................................................................
Correlation Analysis of Alibaba: ..................................................................................................................
Regression Analysis of Flipkart ...................................................................................................................
Regression Analysis of Amazon.com .........................................................................................................
Regression Analysis of Alibaba ..................................................................................................................
Comparison of Companies..........................................................................................................................
Crux of Study ..............................................................................................................................................
Recommendations ......................................................................................................................................
Conclusion...................................................................................................................................................
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List of Tables
Descriptive Analysis Tables
T: 1…………………………………………………………
T: 2…………………………………………………………
T: 3…………………………………………………………
ANOVA Tables
T: 4…………………………………………………………
T: 5…………………………………………………………
T: 6…………………………………………………………
Correlation Tables
T: 7…………………………………………………………
T: 8…………………………………………………………
T: 9…………………………………………………………
Regression Analysis Tables
T: 10………………………………………………………..
T: 10.1……………………………………………….
T: 11………………………………………………………..
T: 11.1……………………………………………….
T: 12………………………………………………………..
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History:
Walmart
Walmart Inc. is an American multinational retail corporation that operates a

chain of hypermarkets, discount department stores, and grocery stores.
Headquartered in Bentonville, Arkansas, the company was founded by Sam
Walton in 1962 and incorporated on October 31, 1969. It also owns and
operates Sam's Club retail warehouses. As of January 31, 2019, Walmart
has 11,348 stores and clubs in 27 countries, operating under 55 different
names.
Walmart is the world's largest company by revenue—over US$500 billion,
according to Fortune Global 500 list in 2018—as well as the largest private
employer in the world with 2.3 million employees. It is a publicly traded
family-owned business, as the company is controlled by the Walton family.
Sam Walton's heirs own over 50 percent of Walmart through their holding
company, Walton Enterprises, and through their individual holdings. Walmart
was the largest U.S. grocery retailer in 2019, and 65 percent of Walmart's
US$510.329 billion sales came from U.S. operations. Walmart Inc. and
Flipkart Group have announced the closing of the $16 billion deal that makes
Walmart the largest shareholder in Flipkart, with 77% of shares in the India-
based e-commerce company.
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Amazon.com
Amazon.com is a multinational technology company focusing in e-

commerce, cloud computing, and artificial intelligence in Seattle,
Washington.
Amazon is the largest e-commerce marketplace and cloud computing
platform in the world as measured by revenue and market
capitalization. Amazon.com was founded by Jeff Bezos on July 5, 1994, and
started as an online bookstore but later diversified to sell video downloads /
streaming, MP3 downloads / streaming, audiobook downloads /
streaming, software, video games, electronics, apparel, furniture, food, toys,
and jewellery. The company also owns a publishing arm, Amazon
Publishing, a film and television studio, Amazon Studios,
produces consumer electronics lines including Kindle e-
readers, Fire tablets, Fire TV, and Echo devices, and is the world's largest
provider of cloud infrastructure services (IaaS and PaaS) through
its AWS subsidiary. Amazon has separate retail websites for some countries
and also offers international shipping of some of its products to certain other
countries.
Amazon is the largest Internet Company by revenue in the world and
the second largest employer in the United States. In 2015, Amazon
surpassed Walmart as the most valuable retailer in the United States
by market capitalization. In 2017, Amazon acquired Whole Foods Market for
$13.4 billion, which vastly increased Amazon's presence as a brick-and-
mortar retailer. The acquisition was interpreted by some a direct attempt to
challenge Walmart's traditional retail stores.
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Alibaba
Alibaba Group Holding Limited is a Chinese multinational conglomerate

specializing in e-commerce, retail, Internet and technology. Founded April
4, 1999, the company provides consumer-to-consumer (C2C), business-to-
consumer (B2C), and business-to-business (B2B) sales services via web
portals, as well as electronic payment services, shopping search engines
and cloud computing services. It owns and operates a diverse array of
businesses around the world in numerous sectors, and is named as one of
the world's most admired companies by Fortune.
At closing time on the date of its initial public offering (IPO) – US$25 billion
– the world's highest in history, 19 September 2014, Alibaba's market value
was US$231 billion. It is one of the top 10 most valuable and biggest
companies in the world. In January 2018, Alibaba became the second
Asian company to break the US$500 billion valuation mark, after its
competitor Tencent. As of 2018, Alibaba has the 9th highest global brand
value.
With operations in over 200 countries and territories, Alibaba is the world's
largest retailer and e-commerce Company, one of the largest Internet and
AI companies, one of the biggest venture capital firms, and one of the
biggest investment corporations in the world.
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Description of all Statistical Tools

Following is the brief description of the Statistical tools which we have used in our project
to analyze the data:
Measure of Central Tendency:

Measures of central tendency tell the center of the frequency distribution. This includes
the three different measures of central tendency, Mean, Median and Mode. We have
applied only following two of them
Mean:
The mean is also called the “Arithmetic Mean”. It is one of the measures of central
tendency which is used most frequently. It is obtained by dividing the sum of all values by
the number of values in the interested data. The single value of the “Mean” represents
the whole data. The sample data mean is denoted by “ ̅ ” and the population mean is
denoted by “μ”.
Median:
The median is also an important measure of central tendency. If we want the “Median” of
the ungrouped data then it will be the middle value of the arranged data. It divides the
arranged data into two equal parts. It is calculated by arranging data first in increasing
order and then the middle value is founded from that arranged data.
If the values of the data are odd then the median will be the middle value of the arranged
data and if the values of the data are even then the median will be calculated by the
average of the two middle values of the data.
Standard Deviation:
It is a frequently used measure of dispersion. The standard deviation tells about the
deviation of the values of the data from its mean. The large value of standard deviation
shows the more spread of the values from the mean and the smaller value of the standard
deviation shows the less spread of the values from the mean. It is measured by taking
the square root of the variance. The variance of the population is denoted by “σ²” and
variance of the sample is denoted by “s²”.so the variance of population is denoted by
“σ” and sample standard deviation is denoted by “s”.
It is actually the sum of deviation of each value of the data from the mean and the sum of
the deviation will always equal to zero. It means ∑(x- ̅) or ∑(x-μ) = 0.
The value of the variance and standard deviation should not be negative. If the data has
no variation in it then the variance and the standard deviation will be “0”. It is expressed
in the same units as the data.
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Co-Efficient of Variance:
The coefficient of variation (CV) is defined as the ratio of the standard deviation “σ” to
the mean μ: The answer of the (CV) < 1 shows the less variance and (CV) > 1 shows the
high variance. It also tells the per unit variance of the data.
Skewness:
Skewness is the measure of the symmetry of the probability distribution of the random
variable. Its value can be positive, negative or undecided. The negative skewed value
indicates the tail on the left side, longer than the right side which means the data is
clustered including median lying on the right side of the mean. The positive value of the
skewness tells that the tail on the right side is longer than the left side, which means the
data is clustered on the left side. If the value of the skewness is zero means the valued
are evenly distributed on the both sides of the mean.
Hypothesis Testing:
It is a method of making decision using data whether from controlled experiment or from
controlled experiment. Means we perform this test when we make the decision about the
population parameter on the bases of the sample statistic.
The two terms are used in this test “Null Hypothesis” and “Alternative Hypothesis”. Null
Hypotheses normally is a claim about the population parameter that is considered to be
true until it is proved false.
Alternative Hypothesis is used to check the claim whether or not the Null Hypothesis is
true.
ANOVA:
In analyses of the variance the “ANOVA” is used to check the Null Hypothesis whether or
not the means of three or more populations are equal.
The Hypothesis in the analyses of variance is normally stated like:
H₀: all three population means are equal
H₁: all three population means are not equal
Assumptions of ANOVA:
For using one-way ANOVA following assumptions must be fulfilled.

1. The populations are normally distributed from which the samples are drawn.
2. The populations also have the same variance or (Standard Deviation) from which
the samples are drawn.
3. The samples are independent and random, drawn from the different populations.
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In the ANOVA we calculate the two variance estimates, variance between sample (MSB)
and variance within sample (MSW). If the means of the populations under consideration
are all equal then the variation between the means of the samples taken from those
populations well be less, (MSB) will be low and the means of the populations are not
equal then the (MSB) will be higher.
MSW gives the value indicating the variance within the data of samples taken from the
different populations. It is similar to the concept of the pooled standard deviation.
Multiple Regression Analysis:

It is the study to confirm that how a dependent variable is depending on one or more
independent variables. For this purpose we use the following model;
Ŷ= a+ b₁x₁ + b₂x₂ + ……
Where:
Ŷ = dependent variable (Estimated Value of Y)
a = y-intercept (Constant)
b₁ = (Slope) per unit change in Ŷ due to the change in one unit of first independent
variable.
b₂ = (Slope) per unit change in Ŷ due to the change in one unit of second independent
variable.
The above model is often used for the future predictions of the important
components/variables of the organizations.
Coefficient of Determination:
Coefficient of Determination is used to answer the question that how good is the
regression model. It tells that how significantly a dependent variable is depending on the
independent variables used in the regression model.
It is denoted by “r²“. The value of the r² is always between “0 and 1”. As long as the value
of r² is close to the 1 it will represent the fitness of the model and gives the confidence
about the regression model. Its formula is:
R2= 1 – (SSerror / SStotal)
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Brief description of variables

For the purpose of this project we have selected following variables.
i. Market Capitalization (Independent Variable)

ii. Debt (Independent Variable)
iii. Revenue (Dependent Variable)
Market Capitalization (Independent Variable)

Market capitalization (market cap) is the market value of a publicly traded company's
outstanding shares. Market capitalization is equal to the share price multiplied by the
number of shares outstanding. As outstanding stock is bought and sold in public
markets, capitalization could be used as an indicator of public opinion of a company's
net worth and is a determining factor in some forms of stock valuation.
Debt (Independent Variable)
Debt is when something, usually money, is owed by one party, the borrower or debtor,
to a second party, the lender or creditor. Debt is a deferred payment, or series of
payments that is owed in the future, which is what differentiates it from an immediate
purchase. Loans, bonds, notes, and mortgages are all types of debt. The term can also
be used metaphorically to cover moral obligations and other interactions not based on
economic value.
Revenue (Dependent Variable)

Revenue is the income that a business has from its normal business activities, usually
from the sale of goods and services to customers. Revenue is also referred to as sales
or turnover. Some companies receive revenue from interest, royalties, or other fees.
Revenue may refer to business income in general, or it may refer to the amount, in a
monetary unit, earned during a period of time, as in "Last year, Company X had revenue
of $42 million". Profits or net income generally imply total revenue minus total expenses
in a given period. In accounting, in the balance statement it is a subsection of the Equity
section and revenue increases equity.
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Descriptive Analysis
Walmart:
T: 1
Market Capitalization Debt Revenue
Mean 15004325 Mean 2960279.167 Mean 7566241.667
Standard Error 343503.1905 Standard Error 40660.24746 Standard Error 154269.4791
Median 14950700 Median 2944800 Median 7708750
Standard 1682815.084 Standard 199193.7182 Standard 755763.0132
Deviation Deviation Deviation
Sample Variance 2.83187E+12 Sample 39678137373 Sample 5.71178E+11
Variance Variance
Kurtosis 2.515790402 Kurtosis 0.690962149 Kurtosis -0.445074018
Skewness 1.005743156 Skewness 0.093625113 Skewness -0.255428171
Range 8023400 Range 933100 Range 2704400
Minimum 12018600 Minimum 2516400 Minimum 6182200
Maximum 20042000 Maximum 3449500 Maximum 8886600
Sum 360103800 Sum 71046700 Sum 181589800
Count 24 Count 24 Count 24
Explanation:
Median (Market Capitalization, Debt and Revenue Respectively)
The median value of Market Capitalization is 14950700, which means that average
Market Capitalization of Walmart is 14950700 in each quarter for last 6 Years. Now the
result shows that the average Debt of Walmart in each quarter for last 6 Years is
approximately 2944800.
The Median of the revenue is 7708750 which mean that the average revenue of the
Walmart is approximately 7708750 in each quarter for last 6 Years.
Standard Deviation (Market Capitalization, Debt and Revenue Respectively)
The standard deviation of Market Capitalization is 1682815.084, which means that there
are 1682815.084 deviations from the average, in the data of Market Capitalization of
“Walmart” for last 6 Years.
The standard deviation of Debt of “Walmart” is 199193.7182, which means that there are
199193.7182 deviations from the average, in the data of Debt of “Walmart” for last 6
Years.
The standard deviation of revenue is 755763.0132, which means that there are
755763.0132 deviations from the average (Mean), in the data of revenue of “Walmart” for
last 6 Years.
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Co-Efficient of Variance (Market Capitalization, Debt and Revenue Respectively)
The CV value of Market Capitalization is showing that there is 11.26% per quarter
variation in Market Capitalization of Walmart.
As long as the Debt is concerned, the CV value is showing 6.76% variation/quarter in

Debt taken by Walmart.
Now the CV of Revenue is illustrating 9.80% variation per quarter in the revenue of
Walmart.
Skewness (Market Capitalization, Debt and Revenue Respectively)
Market Capitalization’s skewness is 1.005743156 which indicates that Market

Capitalization is right skewed and most of the data is clustered on the left side.
Debt’s skewness is 0.093625113 illustrating that Debt is also right skewed and most of
the data is clustered on the left side.
Revenue’s skewness is -0.255428171 which indicates that revenue is left skewed and
most of the data is clustered on the right side.
Amazon.com:
T: 2
Mean 26151108.33 Mean 1482918.304 Mean 2367147.017
Median 21995300 Median 1185500 Median 2111800
Standard Deviation 18633937.03 Standard Deviation 1177863.486 Standard Deviation 1156251.351
Sample Variance 3.47224E+14 Sample Variance 1.38736E+12 Sample Variance 1.33692E+12
Kurtosis 0.19718891 Kurtosis -1.023692929 Kurtosis 0.001649362
Skewness 1.070047096 Skewness 0.666583043 Skewness 0.836248397
Range 63491900 Range 3522382.5 Range 4338473.8
Minimum 7567900 Minimum 222617.5 Minimum 879126.2
Maximum 71059800 Maximum 3745000 Maximum 5217600
Sum 627626600 Sum 35590039.3 Sum 56811528.4
Explanation:
Market Capitalization of Amazon is 21995300 in each quarter for last 6 Years. Now the
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result shows that the average Debt of Amazon in each quarter for last 6 Years is
approximately 1185500.
The Median of the revenue is 2111800 which mean that the average revenue of the
Amazon is approximately 2111800 in each quarter for last 6 Years.
are 18633937.03 deviations from the average in the data of Market Capitalization of
“Amazon” for last 6 Years.
The standard deviation of Debt of “Amazon” is 1177863.486, which means that there are
1177863.486 deviations from the average, in the data of Debt of “Amazon” for last 6
Years.
1156251.351 deviations from the average (Mean), in the data of revenue of “Amazon” for
last 6 Years.
variation in Market Capitalization of Amazon.

Debt taken by Amazon.
Amazon.

Revenue’s skewness is 0.836248397 which indicates that revenue is right skewed and
most of the data is clustered on the left side.
Alibaba:
T: 3

Mean 16279706 Mean 681034.7917 Mean 309417.725
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Median 13162359 Median 596638.1 Median 239042.35

Standard Deviation 7058893.042 Standard Deviation 326114.5827 Standard Deviation 224150.9372
Sample Variance 4.9828E+13 Sample Variance 1.06351E+11 Sample Variance 50243642630
Kurtosis 0.615298673 Kurtosis 0.071556864 Kurtosis 0.59686386
Skewness 1.378171793 Skewness 0.799639616 Skewness 1.137406332
Range 23223100 Range 1165376.3 Range 784993.1
Minimum 9708400 Minimum 262123.7 Minimum 64705.3
Maximum 32931500 Maximum 1427500 Maximum 849698.4
Sum 390712944 Sum 16344835 Sum 7426025.4
Explanation:
Market Capitalization of Amazon is 13162359 in each quarter for last 6 Years. Now the
result shows that the average Debt of Amazon in each quarter for last 6 Years is
approximately 596638.1.
The Median of the revenue is 239042.35 which mean that the average revenue of the
Amazon is approximately 239042.35 in each quarter for last 6 Years.
are 7058893.042 deviations from the average in the data of Market Capitalization of
“Amazon” for last 6 Years.
The standard deviation of Debt of “Amazon” is 326114.5827, which means that there
are 326114.5827 deviations from the average, in the data of Debt of “Amazon” for last 6
Years.
224150.9372 deviations from the average (Mean), in the data of revenue of “Amazon” for
last 6 Years.
variation in Market Capitalization of Amazon.

Debt taken by Amazon.
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Amazon.

Revenue’s skewness is 1.137406332 which indicates that revenue is right skewed and
most of the data is clustered on the left side.
Comparison of Averages
Our data has outliers so that we have calculated the Median. We have also calculated
the Mean.
(Market Capitalization):
Now we are going to compare the “Market Capitalization” of the three companies we have
selected. The average Market Capitalization of “Amazon.com” is 21995300, “Alibaba” is
13162359 and “Walmart” is 14950700. This result shows that the average of
“Amazon.com” is now greater than the average of other two companies which means that
it had higher Market Capitalization in last 6 Years as compared to the other companies.
The “Walmart” is the second best and Alibaba’s average again less than the others but
there is not enough variation in his average from the others.
(Debt):
In the comparison of Debt we found the results as the average of “Amazon.com” is
1185500, “Alibaba” is 596638.1 and “Walmart” is 2944800. This result shows that the
averages of all the three companies are not very close but the average of “Walmart” is
more than from other two companies.
(Revenue):
Our calculation of the data of three companies from the sample of last 6 years shows that
the average revenue of “Amazon.com” was 2111800, “Alibaba” was 239042.35 and of
“Walmart” was 7708750. This result shows that the average scores of “Walmart” was
more than “Amazon.com” and “Alibaba”, which means that “Walmart” has performed good
in the market in last 6 years compared to the other two companies.
The “Amazon.com” average is on second number which is better than “Alibaba”. It
means that “Alibaba” has performed badly as compared to other two companies.
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Comparison of Standard Deviation:
As we have already stated above that Standard deviation is the most commonly used tool
of dispersion. Still it is the most accurate measure of dispersion. It is used to find the
deviation (spread) in data. The less the standard deviation the more consistent the data
will be. A low standard deviation means that the data will be very close to the Mean and
high standard deviation means that the data is not close to the mean and spread out over
a large range of values.
We are going to compare the S.D of all three companies, comparison is as follow:
The S.D of “Amazon.com” is 18633937.03, “Alibaba” is 7058893.042 and “Walmart” is

1682815.084. According to our result the S.D of “Amazon.com” is again more than that
of other two companies, it means its deviation from the mean is more. There is more
spread in his data, means no consistency. The deviation of “Alibaba” is less than the
“Amazon.com” but greater than “Walmart”, which shows that it has more consistent
Market Capitalization than “Amazon.com” but less consistent than “Walmart” . Here the
deviation of Walmart from the mean is less than the other two companies.
(Debt):
The S.D of “Amazon.com” is 1177863.486, is 326114.5827 and “Walmart” is

199193.7182. According to our result the S.D of “Amazon.com” is again more than that
of other two companies; it means its deviation from the mean is more. There is more
spread in his data, means no consistency. The deviation of “Walmart” is less than the
other two companies which shows that it is more consistent in maintaining its debt ratio
compared to other two. Here the deviation of “Alibaba” is less than the “Amazon.com”.
(Revenue):
The S.D of “Amazon.com” is 1156251.351, “Alibaba” is 224150.9372 and “Walmart” is

755763.0132. According to our result the S.D of “Amazon.com” is more than that of other
two companies, it means its deviation from the mean is more. There is more spread in his
data, means no consistency. The deviation of “Alibaba” is less than that of other two
companies which shows that it is more consistent company. Here the deviation of
Walmart is less than the “Amazon.com” but greater than the “Alibaba”.
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Comparison of C.V:
As we know that the Co-efficient of Variance (C.V.) tells us the Variation per unit. So the
less the value of C.V. the more it will be favorable and it also tells us the consistency.
Now the comparison of all three companies is as follow:

The C.V of “Amazon.com” is 84.72% which shows the variation per quarter. The C.V of
“Alibaba” is 53.63%, “Walmart” is 11.26%. Our result shows that the per quarter variation
of “Walmart” is again less than that of other two companies, which indicates that
“Walmart” could perform in market more consistently than other two companies in last 6
Years.
(Debt):
“Alibaba” is 54.66%, “Walmart” is 6.76%. Our result shows that the variation per quarter
of “Walmart” is less than that of other two companies, which indicates that “Walmart”
could maintain Debt more consistently than other two companies in last 6 years. The
variation of “Amazon.com” is very high which means that it is very less consistent
company in maintaining Debt.
(Revenue):
“Alibaba” is 93.77%, “Walmart” is 9.80%. Our result shows that the per quarter variation
of “Walmart” is less than that of other two companies, which indicates that “Walmart”
gained revenue more consistently than other two companies in last 6 years.
ANALYSIS OF VARIANCES
Market Capitalization
Scenario # 1
To test whether the mean Market Capitalization of the companies (Walmart, Amazon.com
and Alibaba), are same. For this job the following data is taken from Bloomberg Terminal.
Use these data to test whether the populations mean Market Capitalization of these
companies are different. Use α= 0.05.
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Walmart Inc Alibaba Group Amazon.com
1,39,80,700 98,71,000 75,67,900
1,35,67,000 1,24,46,281 89,71,600
1,23,66,100 1,24,72,832 1,13,22,200
1,37,04,500 1,31,76,218 92,66,900
1,55,08,600 98,20,997 90,09,700
1,53,87,100 1,20,63,850 92,43,300
1,51,09,300 1,26,48,253 91,24,200
1,55,18,900 1,14,83,196 1,08,04,300
1,44,49,500 1,05,68,717 1,29,23,100
1,51,14,700 1,63,45,600 1,57,31,600
1,70,29,400 1,29,43,100 2,10,85,000
1,60,23,200 1,31,48,500 1,85,34,300
1,48,05,500 97,08,400 2,29,05,600
1,20,18,600 1,33,27,300 2,65,00,400
1,42,42,300 1,29,32,800 2,43,14,300
1,38,81,300 1,34,00,900 2,74,87,200
1,50,95,900 1,75,88,800 3,00,25,000
1,44,01,200 1,48,94,300 3,02,81,300
1,37,34,400 1,76,91,100 3,61,41,400
1,46,07,700 2,33,19,200 4,57,25,700
1,53,64,000 2,89,06,700 5,66,83,800
1,67,55,900 2,81,98,100 7,10,59,800
2,00,42,000 3,08,25,300 5,13,94,100
1,73,96,000 3,29,31,500 6,15,23,900
Hypothesis
Ho: µ1= µ2 = µ3
Hi: µ1≠ µ2 ≠ µ3 (At least one mean is not equal)
Reject “Ho” if “f”calculated value is> 3.129
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ANOVA Table
T: 4
Source of Variation SS df MS F P-value F crit
Between Groups 1.787E+15 2 8.933E+14 6.7016115 0.0021889 3.129644

Within Groups 9.197E+15 69 1.333E+14
Total 1.098E+16 71
Explanation:
As we already know that if the means of all the populations are equal then the sample
means taken from different populations will still be not equal but the variation between
them will be very small and as a result the value of MSB will be less. If the means of all
populations under concern are not equal then variation between sample means will be
high and the value of MSB will also be high. As long as the MSW is concerned, the MSW
value tells the variation within the different samples data taken from the different
populations. Here the variation within sample is 1.333E+14, which is a very high value.
So in the light of the above discussion we can see in the above table that the value of
MSB is very high and our results are also indicating towards rejecting the Ho which means
that all population means are not equal. The f critical value is 3.129 and our f calculated
value is 6.7016, which is greater than the critical value which illustrates that reject Ho. As
we know that the one-way ANOVA test is always right tail and the f calculated value is
lying in the rejection region which is the main reason to reject Ho.
If we compare the “p” value, the p value is 0.0021889 which is less than the “α” (0.05)
and the rule is:
If “p” value is less than the “α” then reject Ho otherwise do not reject. It is also
supporting our conclusion.
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Comparison:
As our ANOVA results has shown that we reject “Ho” which shows the great variation in
our means of sample data that indicates the means of populations are not equal. It
demonstrates that on average these three companies could play different market
capitalization. If we compare these findings with the raw data, the raw data is also showing
the high variation between the Market Capitalization of these companies. The raw data is
showing the high variation in total market capitalization, average market capitalization and
Market Capitalization in every quarter individually.
Means (µ Average Market Capitalization played) of Walmart and Amazon.com are not
equal. The raw data is also showing the same situation because if we compare the Market
Capitalization of Walmart and Amazon.com, there is great variation in it as compared to
the variation between Amazon.com and Alibaba, Walmart and Alibaba.
No. of Debt
Scenario # 2
For test whether the mean No. of Debt of the companies (Walmart, Amazon.com and Chris
Alibaba) are same. For this job the following data is taken from Bloomnberg Terminal. Use
following data to test whether the populations mean No. of Debt of these companies is
different. Use α = 0.05.
Debt
30,36,000 2,62,124 2,22,618
30,89,400 2,74,653 2,33,266
25,16,400 2,90,383 4,26,119
27,03,500 3,34,785 2,35,434
30,83,400 3,96,455 2,38,919
34,49,500 4,11,965 2,45,371
31,64,900 3,95,601 10,17,200
29,63,200 6,01,060 6,00,284
29,07,500 6,44,483 6,04,891
23
31,04,000 7,05,096 6,13,337
28,27,700 5,28,423 11,61,700
29,44,700 5,41,145 11,65,000
28,83,700 5,58,229 12,06,000
31,73,900 5,76,995 12,65,200
31,48,700 5,92,217 13,87,400
30,73,900 8,03,608 14,01,000
29,44,900 8,80,518 15,26,300
31,30,400 8,89,658 28,22,200
28,84,900 8,65,143 28,18,900
27,74,700 8,91,369 28,97,900
27,72,300 9,03,528 31,35,400
29,42,300 12,69,200 31,85,600
27,03,400 13,00,700 34,35,000
28,23,400 14,27,500 37,45,000
Ho: µ1= µ2 = µ3
Reject “Ho” if “f” calculated value is> 3.1296

ANOVA Table
T: 5
Between Groups 6.41645E+13 2 3.20823E+13 62.76729 2.95E-16 3.129644

Within Groups 3.5268E+13 69 5.1113E+11
Total 9.94325E+13 71
24
25
Explanation:
As the “f” calculated value is 62.76729, higher than the “f” critical value, means
62.76729>3.1296 so we reject “Ho” which means average Debt of all three companies
are not equal. Our “P” value is also showing the same results because it is lesser than
the alpha so we reject “Ho”. As in above table the value of MSB is huge, it is showing the
more variation in the sample means taken from the different three populations. It happens
when the population means are different, so the comparison between critical value and f
calculated value has justified that the population means are not equal. The value of MSW
5.11E+11 (which is very large) is showing the variation within the sample data taken
from the different populations
As we have selected the competitive companies so that the variance between them may
not be close to each, so therefore on average these three companies’ debt are not same.
Comparison:
We have calculated the ANOVA of three companies regarding Debt taken them so if we
compare the findings of the ANOVA with the raw data, the value of MSB is showing more
variation between the means of the samples data which gives the indication about the
inequality in the population means regarding the Debt. The findings of the ANOVA about
the Debt demonstrate the average Debt of all the three companies on the population base
are not same because the companies we have selected have different market share,
means they have made different revenue on different Market Capitalization. This happens
only because of different Debt so all three companies do not have the same average on
population bases regarding the Debt.
25
Revenue
Scenario # 3
To test whether the mean revenue of the three cricket companies (Walmart, Amazon.com
and Chris Alibaba) are same on One Day International Cricket Series. For this job the
following data is taken from Bloomberg Terminal record. Use these data to test whether
the populations mean Revenue of these companies are different. Use alpha= 0.05.
Revenue
63,16,700 64,705 8,79,126
61,82,200 1,00,400 10,61,300
69,67,800 75,491 15,86,700
61,83,900 98,085 12,19,300
67,49,100 1,11,002 11,56,200
72,58,800 1,90,867 12,47,000
80,67,700 1,21,889 18,18,100
70,31,800 1,51,291 14,13,800
71,70,900 1,65,422 14,70,700
72,62,600 2,63,898 16,47,400
81,90,200 1,73,904 23,55,900
71,67,800 2,07,079 19,66,000
76,60,100 2,28,491 20,34,000
76,87,200 3,56,181 21,89,600
86,45,700 2,49,594 29,50,100
77,90,300 3,29,204 23,90,400
81,12,400 3,44,307 24,47,700
78,93,100 5,25,363 28,12,100
88,86,600 3,75,075 39,13,500
77,30,300 4,72,200 32,86,100
79,50,000 5,31,721 35,47,000
79,43,800 8,13,451 39,65,800
26
87,56,300 6,26,709 52,17,600
79,84,500 8,49,698 42,36,102
Ho: µ1= µ2 = µ3
Reject “Ho” if “ƒ” calculated value is> 3.129644
ANOVA Table
T: 6
ANOVA
Between Groups 6.71411E+14 2 3.35705E+14 514.2706 3.51378E-42 3.129644

Within Groups 4.50418E+13 69 6.5278E+11
Total 7.16452E+14 71
Explanation:
As the “ƒ” calculated value is 514.2706, higher than the “ƒ” critical value means
514.2706> 3.129644 so we reject “Ho”.
According to the results the average revenue of these three companies on population
bases are not equal. “P” value is also less than the alpha so we reject “Ho”. The value of
MSB is high but still less than the value of the Market Capitalization so that it is indicating
towards the inequality of the population means
27
Comparison
Here the value of MSB is high but still less than the (Market Capitalization’ value of MSB).
According to our ANOVA calculations our “P” and “F” value are in the favor of “Ho” so
because of these calculations we also have concluded that the population means (of
Revenue) are not equal and there is huge variation in sample means. It is all because of
high MSB of Debt but less than Market Capitalization MSB value, as we have found the
MSB value of Market Capitalization very high and on this base we have rejected “Ho”.
So as a result we have concluded that on average they have not made revenue in their
every quarter.
Correlation Analysis of Walmart
Following is the “Correlation Analysis” of our collected data.
T: 7
Correlation Table
Market Capitalization x1 1
Debt x2 -0.16526517 1
Revenue Y 0.389283877 -0.051735407 1
Explanation:
In the above table we can see that the relation between X1 and X2 is -16.52%, it is
showing that there is strong negative correlation between our both independent variables.
Now the relationship between X1 and Y is 38.92% which is indicating that our dependent
variable “Revenue” is depending strongly on the “Market Capitalization”. It happens in
real life as well because without Market Capitalization the company can’t make the
28
revenue so that’s why there is strong positive correlation between “Revenue” and “Market
Capitalization”. Now the value -5.17% is also showing the negative correlation between
the “Debt and “Revenue”. Therefore the relationship between “Debt and the “Revenue” is
less negative.
Correlation Analysis of Amazon.com
T: 8
Market Capitalization 1
Debt 0.93880091 1
Revenue 0.905329724 0.951368 1
Explanation:
In the above table we can see that the relation between X1 and X2 is 93.88%, it is showing
that there is strong positive correlation between our both independent variables.
real life as well because without playing Market Capitalization the company can’t make
the revenue so that’s why there is strong positive correlation between “Revenue” and
“Market Capitalization”. Now the value 95.13% is also showing the strong positive
correlation between the “Debt and “Revenue”. This value is greater than the value of
“Market Capitalization” relationship because boundary can increase the revenue in high
proportion and we have selected those companies whose Debt are more than the other
bats men. Therefore the relationship between “Debt and the “Revenue” is more.
Now we are going to check that whether or not the relations discussed above exist on the
population bases. For this purpose we will apply the hypothesis.
29
Correlation Analysis of Alibaba:
T: 9
Correlation Table
Market Capitalization 1
Debt 0.876140573 1
Revenue 0.897914673 0.953261121 1
Explanation:
In the above table we can see that the relation between X1 and X2 is 87.61%, it is
showing that there is strong positive correlation between our both independent variables.
real life as well because without playing Market Capitalization the company can’t make
the revenue so that’s why there is strong positive correlation between “Revenue” and
“Market Capitalization”. Now the value 95.32% is also showing the strong positive
correlation between the “Debt and “Revenue”. This value is greater than the value of
“Market Capitalization” relationship because boundary can increase the revenue in high
proportion and we have selected those companies whose Debt are more than the other
bats men. Therefore the relationship between “Debt and the “Revenue” is more.
30
Regression Analysis of Walmart
Following is the Regression Analysis of our data:
T: 10
Regression Table
Standard
Coefficients Error t Stat P-value
Intercept 4783123.476 2861059.569 1.671801429 0.109399212
Market
Capitalization 0.175791304 0.09152218 1.920750841 0.068444506
Debt 0.049146827 0.773191577 0.063563583 0.949918891
Our multiple regression equation is:
Ŷ= a + (b1*X1) + (b2*X2)
Ŷ = 4783123.476+ 0.175791304*X1 + 0.049146827*X2
Explanation of the above Equation:

Our intercept a = 4783123.476, it means that if every value other than “a” is equal to 0
then the revenue of the Walmart will be 4783123.476. It is showing the negative value
of the intercept which indicates that the average Revenue of the Walmart will go in
minus.
Now the value of b1 = 0.175791304, it is showing the 0.175791304 change in the
revenue due to the change in market capitalisation. Its value is small so that it has not
that much significant effect on the model but as the value is showing the less impact
on the model, it is showing this result because there is a possibility not to make the
revenue on every ball. But in reality without Market Capitalization revenue can’t be
made.
The value of b2 = 0.049146827 which is showing the 0.049146827 change in the

revenue due to the change in debt. This value is showing the significant contribution
in the model.
31
Now to generalize the above slopes to the population we will have to calculate the
hypothesis which will tell us that whether or not the above discussed changes exist
on population base.
SCENARIO 1:
According to our calculation the value of b1 =0.175791304. Now we want to check that
whether this per unit change exists in the population or not.
Ho: β1 > 0
Hi: β1 < 0 .
If t calculated value is < 1.678660414 then we will reject Ho otherwise don’t reject.
−
Conclusion:
As t = 1.920750841which
> 1.678660414 so we do not reject H₀.
If b1 = 0.175791304 change exists in the population.
SCENARIO 2:
According to our calculation the value of b2= 0.049146827. Now we want to check that
Ho: b2 >= 0
Hi: b2 < 0
.
If t calculated
−
value is <1.678660414 then we will reject Ho otherwise don’t reject.
Conclusion:
As t = 32.5288 which is <1.678660414 so we reject H₀. It means that we are not in
the favor of H₀ that indicates, the per unit b₁= 0.049146827 change exists in the
population.
We have proved the per unit changes on the bases of the samples on the population.
Now we want to check that how much our regression model is reliable or up to what
extent we can control the errors. For this purpose we will apply the “Coefficient of
Determination”. It is denoted by “r²”.
T: 10.1
Regression Statistics
32
Multiple R 0.389493448
R Square 0.151705146
Adjusted R Square 0.07091516
Standard Error 728472.7669
Observations 24
Explanation:
In the above table the value of r² = 0.1517 which is showing that we are controlling. %
errors. It means that the “Revenue” which we have taken as dependent variable is
strongly depending on the factors we have selected as independent variables like
“Market Capitalization” and “Debt”. There are only approximately 2% chances that the
dependent variable will be affected by other factors i.e. state of pitch, match pressure
etc. As the more variables are added to the model the value of “ ” will be more.
The value of “ ” is also showing the fitness of our model, we are approximately 98%
confident that our selected model is suitable to predict our dependent variable.
Our sample is also showing that we can strongly control the dependent variable
with our independent variable, which we have taken.
Actually the r² tells us the reliability of the model more than the original that’s why
we use adjusted r² to know the approximately close answer to the reality. The
value of adjusted r² is always less than the value of the r² as given in the table.
Adjusted R² = 0.07091. This value is showing that still we can control the
errors up to approximately 7% which is good indication for our model.
Regression Analysis of Amazon.com

T: 11
Regression Table
Coefficients Standard Error t Stat P-value

Intercept 955935.4598 132769.9867 7.199936 4.27E-07
Market Capitalization 0.006371986 0.012029478 0.529698 0.601877
Debt 0.839275546 0.190307742 4.410097 0.000244
33
Ŷ= a + (b1*X1) + (b2*X2)
Ŷ= 955935.4598+ 0.00637*X1 + 0.839275*X2

Explanation:
Our intercept a = 955935.4598, it means that if every value other than “a” is equal to 0
then the revenue of the Amazon.com will be 955935.4598. It is showing the positive
value of the intercept which indicates that the average Revenue of the Amazon.com
will go up.
Now the value of b1 = 0.00637, it is showing the 0.00637 change in the revenue due
to the change in market capitalisation. Its value is small so that it has not that much
significant effect on the model but as the value is showing the less impact on the
model, it is showing this result because there is a possibility not to make the revenue
on every ball. But in reality without Market Capitalization revenue can’t be made.
The value of b2 = 0.839275 which is showing the 0.839275 change in the revenue
due to the change in debt. This value is showing the significant contribution in the
model.
Now to generalize the above slopes to the population we will have to calculate the
hypothesis which will tell us that whether or not the above discussed changes exist
on population base.
SCENARIO 1:
According to our calculation the value of b₁= 0.00637. Now we want to check that
Ho: β₁ = 0
H1: β₁ ≠ 0
If t calculated value is < -2.048or >2.048then we will reject Ho otherwise don’t reject.
t = .529
Conclusion:
As t = .529 which is < 2.048 so we will accept H₀. It means that we are in the favour of
Ho that indicates, the per unit b₁= 0.00637 change doesn’t exists in the population.
SCENARIO 2:
According to our calculation the value of b₂=0.839275. Now we want to check that
Ho: 2 = 0
H1: 2 ≠ 0
If t calculated value is < -1.678660414 or >1.678660414 then we will reject Ho
otherwise don’t reject.
34
t = 4.41
Conclusion:
As t = 4.41 which is > 1.678660414so we will reject H₀. It means that we are in the
favor of H₁ that indicates, the per unit b₂= 4.70831 change exists in the population.
We have proved the per unit changes on the bases of the samples on the population.
Now we want to check that how much our regression model is reliable or up to what
extent we can control the errors. For this purpose we will apply the “Coefficient of
Determination”. It is denoted by “r²”.
T: 11.1
Multiple R 0.952025517
R Square 0.906352584
Adjusted R Square 0.897433783
Standard Error 370300.6059
Observations 24
The value of R square is telling that we can control approximately 90.63% errors by
using the above regression model. The variables are very important to represent the
dependent variable “Revenue”.
The value of Adjusted R square tells the accurate value than the R square value.
Regression Analysis of Alibaba

T: 12
Regression Table
Coefficients Standard Error t Stat P-value

Intercept -165640.6347 33471.34454 -4.948729635 6.76576E-05
Market Capitalization 0.008571222 0.003919896 2.186594515 0.040233299
Debt 0.492664081 0.084847859 5.806440913 9.18118E-06
35
Ŷ= a + (b1*X1) + (b2*X2)
Ŷ= -165640.6347 + 0.008571222*X1 + 0.492664081*X2
Explanation:
Our intercept a = -165640.6347, it means that if every value other than “a” is equal to 0
then the revenue of the Alibaba will be -165640.6347. It is showing the negative value of
the intercept which indicates that the average Revenue of the Alibaba will go in minus if
market capitalization and debt will not increase.
Now the value of b1 = 0.008571222, it is showing the 0.008571222change in the

revenue due to the change in market capitalisation. Its value is small so that it has not
that much significant affect on the model but as the value is showing the less impact
on the model, it is showing this result because there is a possibility not to make the
revenue on market capitalisation. But in reality without Market Capitalization revenue
can’t be made.
The value of b2 = 0.492664081 which is showing the 0.492664081change in the

revenue due to the change in debt. This value is showing the significant contribution
in the model.
Now we will generalize the above findings to the populations.
SCENARIO 1:
According to our calculation the value of b₁= 0.4097
. Now we want to check that whether this per unit change exists in the population or not.
Ho: β₁ = 0
H1: β₁ ≠ 0
If t calculated value is < -1.678660414 or >1.678660414 then we will reject Ho

otherwise don’t reject.
t = 2.18
Conclusion:
As t = 2.18which is > 1.678660414 so we will reject H₀. It means that we are in the
favor of H₁ that Indicates, the per unit b₁= 0.4097 change exists in the population.
36
SCENARIO 2:
According to our calculation the value of b₂= 0.492664081. Now we want to check
that whether this per unit change exists in the population or not.
Ho: β₁ = 0
H1: β₁ ≠ 0
t = 5.806
Conclusion:
As t = 5.806 which is > 1.678660414. So we will reject H₀. It means that we are in the
favour of H₁ that indicates, the per unit b₂= 0.492664081 change exists in the
population.
37
Comparison of Companies
So according to our findings the intercepts of two companies are showing the positive
value while one company negative value which means that Alibaba should try to make
more revenue in their coming quarters because if they don’t make more revenue so
that their overall average will be reduced as the intercept point is showing. As they
increase their revenue more their average will start going up.
On the other hand the effect of the Market Capitalization and Debt is almost the same
for all of the companies. Because we have selected those companies which have high
market share. If we talk about the Market Capitalization separately then the b₁ (Market
Capitalization) has almost the same effect on the model of all three companies. It has
more affect than Debt on revenue because we have already stated in the correlation
topic that there are more chances of making revenue on market capitalisation. As
market capitalisation increase the revenue in high proportion so Debt is showing more
effect on the model of the regression.
If we talk about the R square of the all three companies, the value of the R square of two
companies are also almost close to each other. Both companies have the value of R
square more than 90% so the variables which we have selected are very useful for our
three selected companies.
If we compare the results of the “Correlation” of all three companies then the results of
these companies show varying results.
38
Crux of Study
In this project we have applied following statistical tools Mean, Median, Stander Deviation,
Skewness, Kurtosis, Hypothesis, ANOVA, Multiple Regressions, and Correlation. After
using these statistical tools we get some results like the market capitalisation of Walmart
is 14950700, whereas the market capitalisation done by Amazon.com is 21995300 and
Market Capitalization of Alibaba is 13162359. This calculation shows that the company
Amazon.com has maximum Market Capitalization as compared with other two
companies. If we talk about the Median, it is another type of average. We have calculated
Median because there are too many outlier in this data. The reason of calculating
Hypothesis is to check that the sample is generalized able to the population or not. On
the basis of our calculation, the sample is generalize interpretation to the population data.
Just like that we have used Skewness which shows the symmetry of the data. Here in
this project not all the values of Skewness are positive which shows that the data is can
be positively or negative skewed or symmetry of the data can exist at any side. And if we
talk about the Kurtosis it shows the out lairs in the data. In this data all the out lairs exist
on the positive or right side. ANOVA shows the overall reliability or fitness of the model.
And correlation shows the relation among Independent variable and dependent variable
individually.
39
Recommendations
We have some recommendations for the companies which we have selected in

the light of our findings.
As we have concluded that as compared to the other two company’s Walmart is a

consistent company. So we recommend that Walmart should perform the way it is
performing, as we have calculated its intercept which is positive & it shows increase in
the average revenue of the Walmart. If it would not do so his average will go down.
Now we have some recommendations for Amazon.com. It is a good and consistent

company but less consistent than Walmart. According to our findings its intercept is
positive which illustrates the increase in the overall average. Its intercept value is
955935.46 which is greater than all other companies intercept value. This company is
really doing aggressive business with high variations.
Alibaba is comparatively weaker company in the three companies. Its intercept is

negative. Its intercept value is -165640.635, hence more efforts are required by Alibaba
to increase its average revenue & stay in the competition.
40
Conclusion
From this project we have concluded that Amazon though having high variations in its
quarterly data, is the best company among the three companies taken. It shows how
Amazon is aggressively trying to capture market and increase its market. Also this
analysis shows how amazon is increasing its debts to further support its expansion and
its market capitalization is ultimately giving positive effect to its revenue.
Walmart is the most consistent company among all the three companies. It has
maintained its debt ratio and revenues are in line with the market capitalization. Walmart
has believed more in brick and mortar stores and its recent deal with flipkat is definitely
going to be the game changer and help generating more revenue with increase in its
market capitalization and debt.
Our analysis also signals that Alibaba should pull u its socks for heavy competition that
its competitors are giving it. Its negative intercept can prove to be fatal for its market
share and revenues. It should also look for further expansions or tie ups if possible.
Thank You!

Research Methodology Quantitative Techniques: Submitted To: Dr. K.R.R. Gandhi

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Research Methodology Quantitative Techniques: Submitted To: Dr. K.R.R. Gandhi

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RESEARCH METHODOLGY PROJECT GROUP B4

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Md Arif Jamal 18PGPM090

Priya Patel 18PGM095

Sayan Choudhury 18PGPM105

Anirban MaZumdar 18PGPM070

So with gratitude we acknowledge all those whose guidance and encouragement

Description of all Statistical Tools .................................................................................................................

Brief description of variables .......................................................................................................................

Market capitalization (I.V): .......................................................................................................................

Debt (I.V): ................................................................................................................................................

Revenue (D.V): .......................................................................................................................................

Descriptive Analysis ....................................................................................................................................

Analysis of Variance ....................................................................................................................................

Correlation Analysis of Flipkart ...................................................................................................................

Correlation Analysis of Amazon.com ..........................................................................................................

Correlation Analysis of Alibaba: ..................................................................................................................

Regression Analysis of Flipkart ...................................................................................................................

Regression Analysis of Amazon.com .........................................................................................................

Regression Analysis of Alibaba ..................................................................................................................

Crux of Study ..............................................................................................................................................

Descriptive Analysis Tables

Regression Analysis Tables

Walmart Inc. is an American multinational retail corporation that operates a

Amazon.com is a multinational technology company focusing in e-

Alibaba Group Holding Limited is a Chinese multinational conglomerate

Description of all Statistical Tools

Measure of Central Tendency:

H₀: all three population means are equal

H₁: all three population means are not equal

For using one-way ANOVA following assumptions must be fulfilled.

Multiple Regression Analysis:

Ŷ = dependent variable (Estimated Value of Y)

R2= 1 – (SSerror / SStotal)

Brief description of variables

i. Market Capitalization (Independent Variable)

Market Capitalization (Independent Variable)

Debt (Independent Variable)

Revenue (Dependent Variable)

Standard Deviation (Market Capitalization, Debt and Revenue Respectively)

Co-Efficient of Variance (Market Capitalization, Debt and Revenue Respectively)

As long as the Debt is concerned, the CV value is showing 6.76% variation/quarter in

Skewness (Market Capitalization, Debt and Revenue Respectively)

Market Capitalization’s skewness is 1.005743156 which indicates that Market

Standard Deviation (Market Capitalization, Debt and Revenue Respectively)

As long as the Debt is concerned, the CV value is showing 99.36% variation/quarter in

Skewness (Market Capitalization, Debt and Revenue Respectively)

Market Capitalization’s skewness is 1.070047096 which indicates that Market

Market Capitalization Debt Revenue

Median 13162359 Median 596638.1 Median 239042.35

Standard Deviation (Market Capitalization, Debt and Revenue Respectively)

Co-Efficient of Variance (Market Capitalization, Debt and Revenue Respectively)

As long as the Debt is concerned, the CV value is showing 54.66% variation/quarter in

Skewness (Market Capitalization, Debt and Revenue Respectively)

Comparison of Standard Deviation:

The S.D of “Amazon.com” is 18633937.03, “Alibaba” is 7058893.042 and “Walmart” is

The S.D of “Amazon.com” is 1177863.486, is 326114.5827 and “Walmart” is

The S.D of “Amazon.com” is 1156251.351, “Alibaba” is 224150.9372 and “Walmart” is

Now the comparison of all three companies is as follow:

Walmart Inc Alibaba Group Amazon.com

1,39,80,700 98,71,000 75,67,900

1,35,67,000 1,24,46,281 89,71,600

1,23,66,100 1,24,72,832 1,13,22,200