Question

In: Statistics and Probability

Automotive Department Store Automotive Department Store Formula 582 456 Part a 1513 465 Mean (to 2...
Automotive Department Store Automotive Department Store Formula
582 456 Part a
1513 465 Mean (to 2 decimals) #N/A #N/A
1574 476
1636 562 Part b
1712 583 Standard Deviation (to 2 decimals) #N/A #N/A
1724 596
1789 599 Part c
1792 624 Maximum #N/A #N/A
1804 627
2005 664 Minimum #N/A #N/A
2013 702
2032 712 Range (to 1 decimal) #N/A #N/A
2061 746
2171 764 Part d
2206 779 First Quartile (to 2 decimals) #N/A #N/A
2251 830
2365 839 Third Quartile (to 2 decimals) #N/A #N/A
2517 851
2538 946 Interquartile Range (to 2 decimals) #N/A #N/A
2904 1006

a. What is the mean advertising spent for each sector? Round your answers to 2 decimal places, if necessary.

Automotive Department Store
Mean $ $

b. What is the standard deviation for each sector? Round your answers to 2 decimal places.

Automotive Department Store
Standard deviation $ $

c. What is the range of advertising spent for each sector? Round your answers to 1 decimal place, if necessary.

Automotive Department Store
Range $ $

d. What is the interquartile range for each sector. Round your answers to 2 decimal places.

Automotive Department Store
IQR $ $

e. Based on this sample and your answers to parts (a) to (d), comment on any differences in the advertising spending in the automotive companies versus the department store companies.

Automotive spends _____lessmore on average, has a _________smallerlarger standard deviation, and _________largersmaller range than Department Store.

Solutions

Expert Solution

Solution:

Install analysis toolpak .Go to

Data>data analysis>descriptive statsistic

You will get

You will get

Automotive Department Store
Mean 1959.45 Mean 691.35
Standard Error 108.3499563 Standard Error 34.6169471
Median 2009 Median 683
Mode #N/A Mode #N/A
Standard Deviation 484.5557352 Standard Deviation 154.8116938
Sample Variance 234794.2605 Sample Variance 23966.66053
Kurtosis 2.654402229 Kurtosis -0.514249885
Skewness -0.775097092 Skewness 0.292301591
Range 2322 Range 550
Minimum 582 Minimum 456
Maximum 2904 Maximum 1006
Sum 39189 Sum 13827
Count 20 Count 20

From answers:

Automotive Department Store
Mean $1,959.45 $691.35

Solution-b:

Automotive Department Store
Standard deviation $484.56 $154.81

Solution-c:

Automotive Department Store
Range $2,322.00 $550.00

Solution-D

Automotive Department Store
IQR $496.25 $199.00
Formula
=AVERAGE(A2:A21) =AVERAGE(B2:B21)
=ROUND(STDEV.S((A2:A21)) =ROUND(STDEV.S((B2:B21))
=MAX(A2:A21) =MAX(B2:B21)
=MIN(A2:A21) =MIN(B2:B21)
=MAX-MIN ='MAX-MIN
'=QUARTILE.INC(A2:A21;1) '=QUARTILE.INC(B2:B21;1)
=QUARTILE.INC(A2:A21;3) '=QUARTILE.INC(B2:B21;3)
=Q3-Q1 Q3-Q1

orchestra answered 2 years ago
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