Statistics and Analysis

Conduct the following descriptive statistics analyses with Excel®. Answer the questions below in your Excel
sheet or in a separate Word document:

  • Insert a new column in the database that corresponds to “Annual Sales.” Annual Sales is the result of
    multiplying a restaurant’s “SqFt.” by “Sales/SqFt.”
  • Calculate the mean, standard deviation, skew, 5-number summary, and interquartile range (IQR) for each of
    the variables.
  • Create a box-plot for the “Annual Sales” variable. Does it look symmetric? Would you prefer the IQR instead
    of the standard deviation to describe this variable’s dispersion? Why?
  • Create a histogram for the “Sales/SqFt” variable. Is the distribution symmetric? If not, what is the skew? Are
    there any outliers? If so, which one(s)? What is the “SqFt” area of the outlier(s)? Is the outlier(s) smaller or
    larger than the average restaurant in the database? What can you conclude from this observation?
  • What measure of central tendency is more appropriate to describe “Sales/SqFt”? Why?

Sample Solution

ACED ESSAYS