Stats Essay Example | Topics and Well Written Essays - 1000 words

Stats - turn up ExampleThe median age of the vendee is 46 years and the middle half of the buyers age is in-between 40 years and 52.25 years (interquartile range = 12.25 years). The minimum and maximum age of the buyers ar 21 years and 73 years, respectively. There are 4 mild outliers (21, 72, 72, and 73 years) in the data, as one buyer age is under 21.6 years (below the lower inner fence) and three buyers age is to a higher place 70.6 years (above the upper inner fence). There are no extreme outliers in the data.b. As shown in the scatter diagram depicting the relationship between vehicle profits and age of the buyer, there appears a positive linear relationship between vehicle profits and age of the buyer. The profits on vehicles for younger buyers are less as compared to the profits on vehicles for older buyers. Thus, Applewood Auto groupings merchandising departments belief that younger buyers obtain vehicles on which lower profits are earned and the older buyers purchase vehicles on which higher profits are earned is correct.d. Based on the above analysis, the Applewood Auto Group should go ahead with the advertising campaign as planned. The correlation coefficient value of 0.262 suggests that there is a lame positive linear relationship between vehicle profits and age of the buyer. The coefficient of determination value of 0.068 indicates that buyers age explains about 6.8% variation in vehicle profit. Thus, the buyers age has a small effect on vehicle profit. However, since, the sample size is very large (n = 180), this relationship is statistically significant. Therefore, the Applewood Auto Groups marketing department should use this information as part of an approaching advertising campaign to try to attract older buyers on which the profits tend to be higher.As shown in figure 1, there appears an increasing trend in house prices in the UK, London and wedlock East from 1986 until 2013. In the year 1986, the average house price in the London, N orth East and UK were