Resource: Pastas R Us, Inc. Database
In preparation for writing your report to senior management next week, compute the following descriptive statistics analyses for each column of data (each variable) with Excel®. Answer the questions below in your Excel sheet or in a separate Word document:
- Insert a new column in the database that corresponds to “Annual Sales.” Annual Sales is the result of multiplying a restaurant’s “SqFt.” by “Sales/SqFt.”
- Calculate the mean, standard deviation, skew, 5-number summary, and interquartile range (IQR) for each of the variables.
- Create a box-plot for the “Annual Sales” variable. Does it look symmetric? Would you prefer the IQR instead of the standard deviation to describe this variable’s dispersion? Why?
- Create a histogram for the “Sales/SqFt” variable. Is the distribution symmetric? If not, what is the skew? Are there any outliers? If so, which one(s)? What is the “SqFt” area of the outlier(s)? Is the outlier(s) smaller or larger than the average restaurant in the database? What can you conclude from this observation?
- What measure of central tendency is more appropriate to describe “Sales/SqFt”? Why?
Submit your assignment. You may submit your assignment as part of your Excel spreadsheet, showing your statistics within a table and your various graphs on the same or a separate worksheet. You may also turn in your assignment as a word document with your statistics in a table. It is your choice.
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