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2 pages/≈550 words

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APA

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Mathematics & Economics

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Statistics Project

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# Business Statistics Using Spreadsheets (Statistics Project Sample)

Instructions:

Business Statistics Using Spreadsheets
For this assignment, you will want to do the following:
1. Calculate measures of central tendency (mean, mode and median), and apply a correct interpretation to business problems.
2 .Calculate measures of variability (range, variance, and standard deviation), and apply a correct interpretation to business problems.
3. Calculate measures of relative position (percentile and quartiles),and apply a correct interpretation to business problems.
**There are 3 attachments.
- Directions, all in step-by-step detail
- Cool Computer Store Inc. Sample of Sales
- And an Example of how your Excel spreadsheet should be organized.
source..

Content:

Student’s Name
Instructor’s Name
Course
Date
Business Statistics Using Spreadsheets
Question 1: Mean sale amount for store 6 = $61,399.72
Question 2: Mean sale amount for the South region = $17,981.54
Question 3: Mean sale amount = $28,301.88
Question 4: Median sale amount = $10,046.40
Question 5: The mean and median sales amounts for Cool Computer Store, Inc., are not the same. The mean and median sales amounts are $28,301.88 and $10,046.40, respectively. The mean indicates the average of the firm's sales, while the median sales amount indicates the middle value of all sales, whether in ascending or descending order. Given that Cool Computer Store's mean is greater than its median, the sales are positively skewed, in which the higher sales values pull the mean towards the larger values of the median sale amount.
Question 6: Mode of the number of units sold = 30
Question 7
Store No.
Variance of no. of desktop CPUs sold
1
12.39
2
0.949
3
0.679
4
14.933
5
20.04
6
76.44
7
0.84
8
2.4
Variance is a key statistical indicator that shows the spread or dispersion of a given data set around its average value. In this case, the variance also indicates how the data deviates from the central tendency of the number of desktop CPUs sold in every store (as shown in the table above). For the table, stores 6, 5, 4, and 1 have a higher variance value than the other stores. It indicates that the number of desktop CPUs sold is more spread out from the mean number of desktop CPUs sold. The high variance in these stores suggests that the number of CPUs sold has greater variability and is more diverse than those with lower variance. Stores 2, 3, 7, and 8 have a low variance, which indicates that the number of desktop CPUs sold is closer to the mean or average number of sold CPU units. The low variance is also a critical indicator of consistency and reduced variability.
Question 8
Month
The standard deviation of 101 Keyboards
January
22.489
February
22.390
March
20.934
The standard deviation is essential in the examination of dispersion or variability of the data. It indicates how the individual data variables deviate from the data's mean, which is critical in establishing its spread and consistency. Cool Computer Store Inc.'s standard deviation for January, February, and March were 22.489, 22.390, and 20.934, respectively. The values in these months are fairly large, which indicates that the sale of the 101 keyboards was spread out from the average or mean of the sale of the 101 keyboards. It also shows that the sale of the keyboards was more diverse.
Question 9: The range of profit is $62,861.04
Question 10: The standard deviation of profit is 10601.2224, while the range is $62,861.04. It is critical to note that the range indicates variability in a simpler manner, while standard deviation is a more comprehensive and complex way of finding variability. It is also important to note that, unlike the range, outliers do not affect the standard deviation.
Question 11: The 25th percentile of the profits is $132, which means that 25 percent of the profits of ...

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