The CEO of a cosmetics company has hired you as a business statistician to help perform specific statistical analysis for the firm. You have been given a set of data collected randomly from 500 of its 980 total customers. The data (called "COSMETIC DATA" can be found on the module webpage (under assessment). In the data, income is measured in thousands of pounds ('000), age in years, cosmetic prices in pounds () and quantity values are in units (as shown). The following are the specific Terms of Reference (i.e. what you are required to do for the firm).

1.Presentandbrieflycommentonthedescriptivestatisticsofquantity,price,income and age. Your comments should not exceed 100 words (not includinginformation on tables or graphs). [Hint: using MS EXCEL spreadsheet will beveryuseful butnotmandatory]

2.Present and briefly comment on the correlation matrix for quantity, price, income and age of customers. You are strongly advised to use MS EXCEL spreadsheet for your work. Your comments should not exceed 100 words, not including information on tables or graphs).

3.Useregressionanalysestoestablishrelationships,ifany,between:

(1)Thepricesof thecosmetics and quantityboughtbycustomers;

(2)Customers'incomeandquantityof cosmeticsbought;and

(3)Customers'age andquantityof cosmeticsbought.

Provideappropriatecommentsfor eachof therelationshipsestablished.