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Business Statistics Assignment PDF - Desklib

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Added on  2020-03-28

Business Statistics Assignment PDF - Desklib

   Added on 2020-03-28

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Surname1StatisticsNameThe Name of the Class (Course)Professor (Tutor)Name of the UniversityThe City and State where it is locatedDate
Business Statistics Assignment PDF - Desklib_1
Surname2Task 1The assessment in this part will evaluate basic descriptive statistics and the distribution ofbusiness startup costs (thousands of dollars) for shops. This will help in understanding somestatistics of the business such as; startup costs for pizza, startup costs for baker/donuts,startup costs for shoe stores, startup costs for gift shops, and startup costs for pet stores. First, descriptive statistics were computed, and they are as summarized below. X1X2X3X4X5Mean8392.0972.3087.0051.63Median80877097.549Mode35#N/A#N/A10030Minimum3540353520Maximum140160125150110Range1051209011590Variance1,165.17 1,512.69 983.79 1,289.11 733.05 Standard Deviation34.13 38.89 31.37 35.90 27.07 Coeff. of Variation41.13%42.23%43.38%41.27%52.45%Skewness0.13300.50980.54610.07730.6331Kurtosis-1.0419-0.4369-0.9590-0.4857-0.4767Count1311101016Standard Error9.467211.72689.918611.35396.7687The average cost of starting up a pizza shop is $83 thousand, with a standard deviation of34.13. The median of the startup cost of the pizza is slightly lower than the mean. Thedifference between the highest cost and the least cost of starting up is $105. The averagestartup costs for baker/donuts is $92.09 thousand with a standard deviation of $38.89thousand. This average startup cost is slightly higher than the median, which is $87.00thousand. This average is the highest among the five businesses start-up cost. An average of$72.30 thousand is expected to be used as the startup costs for shoe stores, with a deviation of$31.37 thousand from the mean. The startup costs for gift shops on average is $87.00thousand with a standard deviation of $35.90 thousand. Lastly, the expected startup costs forpet stores is $51.63 thousand, which is the least startup cost. This is the least startup cost, andthe standard deviation shows that the start-up cost for the pet store is more consistent.The frequency tables with their respective histograms are as illustrated below.
Business Statistics Assignment PDF - Desklib_2
Surname3Frequency Distribution - QuantitativeX1cumulative loweruppermidpointwidth frequencypercent frequencypercent30 <60 45 30 4 30.8 4 30.8 60 <90 75 30 4 30.8 8 61.5 90 <120105 30 2 15.4 10 76.9 120<150135 30 3 23.1 13 100.0 30609012015005101520253035HistogramX1PercentThe chart indicates that most of the observations are on the lower side, with fewer businessescosting between $90 and $120 thousands. The data seem to be skewed to the light, implyingthat most of the observations on the lower side (left of the plot).Frequency Distribution - QuantitativeX2cumulative loweruppermidpointwidth frequencypercent frequencypercent30 <60 45 30 2 18.2 2 18.2 60 <90 75 30 4 36.4 6 54.5 90 <120 105 30 2 18.2 8 72.7 120 <150 135 30 1 9.1 9 81.8 150 <180 165 30 2 18.2 11 100.0 11 100.0
Business Statistics Assignment PDF - Desklib_3

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