Analysis of Unleaded 91 Fuel Prices in Victoria on August 22, 2018

Introduction
The Unleaded 91 fuel prices on August 22, 2018 for the Melbourne, Victoria need to be
analysed using the sample data comprising of 80 observations. The statistical techniques that
would be deployed in the process are descriptive statistics and not inferential statistics
considering that the objective is to obtain a summary of the given sample data and not to
derive population characteristics. The given data consists of numerical values indicating that
the underlying data is quantitative which implies that various measures of dispersion and
central tendency can be obtained.
Analysis
The histogram highlighting the price distribution of Unleaded 91 prices as on August 22,
2018 in Victoria is as highlighted below.
Even though the shape of the above histogram tends to resemble a bell shaped curve but the
shape of the above distribution is not symmetric. This is because the left tail to the mean is
longer than the right tail which is a symbol of the asymmetric shape. The presence of