Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. You run a business that sells coffee. Create a monthly distribution of your revenue per month for the last two years. Bear in mind

image text in transcribed
image text in transcribed
image text in transcribed
1. You run a business that sells coffee. Create a monthly distribution of your revenue per month for the last two years. Bear in mind you only work for 1 week out of 4 in August and only for 2 weeks in December. 2. Calculate the mean and standard deviation for the data in task 1 . What does the standard deviation tell you about the data? 3. Convert the data in question 1 to quarterly (3-month period) revenue data. Then construct a histogram for this quarterly data in question. Explain/analyse the shape of the histogram. Are there any outliers? 4. Calculate the 5 points (the minimum, 25th percentile, 50th percentile, 75th percentile and maximum values) of the distribution. What do the values of C Q2 and Q3 tell you? Answer this question using the monthly (and the not the quarterly) datal Thanks. 5. Graph a boxplot based on your answer to question 4 . 6. Is the distribution of the monthly sales a normal one? Graph the frequency distribution curve by hand or with Excel. 7. Find the minimum level of sales that you are going to reach with 90% probability. 8. Now make a new monthly distribution of your number of customers for your coffee shop for the last 24 months. 9. Construct a scatterplot that relates sales to the number of customers per month in question 8 to the revenue per month that you produced in task 1 . 10. Find the correlation equation and the index of correlation. Draw any conclusions that you think can be drawn from the data. - You may want to include images/graphics etc. (for example from their website) to make your reasoning and argumention more visual and explicative - Font: Arial. Size: 12,5pts. Line spacing: 1,5. Text align: Justified. - Appendices and References, do not count towards the final wordcount but are strongly recommended (referencing websites, articles, books etc.) Question 8 \begin{tabular}{|l|l|} \hline Feb & 57000 \\ \hline March & 64000 \\ \hline April & 68000 \\ \hline May & 71000 \\ \hline June & 72000 \\ \hline July & 69000 \\ \hline August & 16000 \\ \hline September & 69000 \\ \hline October & 68000 \\ \hline November & 71000 \\ \hline December & 35000 \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Database Design Application And Administration

Authors: Michael Mannino, Michael V. Mannino

2nd Edition

0072880678, 9780072880670

More Books

Students also viewed these Databases questions