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Lab Insight: Apply the same steps used in Lab $4\mathrm{.}1$ Excel $($and continue using Lab $4\mathrm{.}1$ Data.x$|$sx$),$ but now compute the profit margin $($Sales price per pound minus Cost per pound$)$ and profit margin percentage $($margin divided by sales price per pound$).$ Then use Excel's Data Analysis ToolPak to compute the descriptive statistics $($mean$,$ median, maximum, minimum$)$ for the profit margin percentage.

Required:

Compute the profit margin and profit margin percentage ratios.

Summarize the profit margin ratios using descriptive statistics.

Create a visualization showing the margin percentage. Include chart title and axis titles.

Data: Lab $4\mathrm{.}1$ Data. x$|$sx

Analyze the Data: Alternate Labs don't have step$-$by$-$step instruction or video support. Apply your experience from the original lab. If needed, reference the text or eBook for instructions and steps from the original lab.

Answer the following questions based on the details computed.

Note: Round the number of observations to whole number and all other answers to $3$ decimal places.

$\backslash$table$[[$Question$,$Answer$],[1.$ What is the mean profit margin percentage?,$],[2.$ What are the number of observations?,$],[3.$ What is the range of profit margin percentages in this dataset?,$],[4.$ What is the mode of the profit margin percentages in this dataset?,$],[\backslash$table$[[5.$ By considering the data for each SKU, along with FT$-$MUR, determine the other SKU that has the lowest profit$],[$margin percentage?$]],]]$