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An expert who works for a car magazine obtained random data (rounded to the nearest thousand) among two categories of used or new cars: Domestic Foreign
The expert would like to understand sales based on list price (rounded to the nearest thousand dollars), sale price (rounded to the nearest thousand dollars), and number of days it takes to sell each car. The complete data set is in the file named Cars.
Managerial Report
Prepare a report (see below) that summarizes your assessment of the nature of the car market. Be sure to include the following seven items in your report.
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Calculate descriptive statistics (mean, median, range, standard deviation, and coefficient of variation) to summarize each of the three variables for the all Domestic cars.
Use z-scores to determine if there any outliers in the data set for any of the three variables. If there are any outliers in any category, please list them and state for which category they are an outlier.
If a result is an outlier, state whether it is below or above the mean.
How can one use the above descriptive statistics to understand the Domestic car market better?
Could there be any other descriptive statistics that can help one understand the Domestic car market better?
Descriptive statistics (mean, median, range, standard deviation, and coefficient of variation) to summarize each of the three variables for the all Foreign cars.
Use z-scores to determine if there any outliers in the data set for any of the three variables.
If there are any outliers in any category, please list them and state for which category they are an outlier.
If a result is an outlier, state whether it is below or above the mean.
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How can one use the above descriptive statistics to understand the Foreign car market better?
Could there be any other descriptive statistic that can help one understand the Foreign car market better?
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