Question

The next series of questions deal with comparing Monthly profits form Generic antibiotics and Name brand antibiotics

Figure A.    (Daily profit Revenue)

	Brand Name	Generic
Mean	357.506	446.707
Median	349.524	479.342
Mode	#N/A	#N/A
Minimum	243.584	259.594
Maximum	496.712	515.052
Range	253.128	255.458
Variance	4808.719	8174.857
Standard Deviation	69.344	90.414
Coeff. of Variation	19.40%	20.24%
Skewness	0.410	-1.860
Kurtosis	-0.439	3.499
Count	17	7
Standard Error	16.818	34.173
Q1	319.188	435.160
Q3	396.507	501.319
IQR	77.318	66.158

15. (Using Figure A) The general manager believes that having Generic antibiotics does not increase revenue because its less expensive. With respect to central tendency, does the data support this? Explain which measures you use and why they are appropriate. Hint: consider shape.

16. (Using Figure A) The general manager is concerned that because of variability that the revenue isn’t typically larger with Generic antibiotic means. With respect to variability, does the data support this concern? Explain which measures you use and why they are appropriate. Hint: There are four measures to compare. One of these is helpful. (consider shape of the data).

Answer 1

We can see that from the measures of central tendency and variance measures, it is clear that Generic Antibiotics are contribute higher revenue even though it is cheaper.