In Weeks 2-5 we have a case study to complete. That sounds great and lots of fun! How can we go about making this wonderful thing happen in our lives?

Easy!

You FIRST do your work in excel answering problems utilizing new-found statistical knowledge. Then SECOND, you upload your excel work to get points for your successes! To upload your assignment, click on the black “view assessment” button on this screen (you may need to scroll down to see it).

Isn’t that awesome? In fact, is there ANY way that this could get any better?

Case in point, there is!

Look in the conversations area for detailed instructional posts on how to complete each part of the case study (Q1 and Q2 are posted on Wednesday, Q3 and Q4 are posted on Thursday, amd Q5 and Q6 are posted on Friday).

To access the conversations area for this assignment, click on the small icon in the upper right corner of your screen that looks like a person with a square talk balloon next to its head.

It is recommended that you use it like you would a recipe. Have excel up and running as you review each step in the detailed instructional post. Create your secret sauce of statistical success by working step by step in real time. You WILL like how this secret sauce tastes. You are welcome to post questions or thoughts in this thread. To post a question or your thoughts on the case study, click on the small icon in the upper right corner of your screen that looks like a person with a square talk balloon next to its head.

Happy solving!

Here are the details for our week 2 Case study:

You manage the inventory for a car dealership. Data on current inventory can be found in the week 2 data set excel file.

Management would like you to assess current inventory on the dealership lot.

Using the Week 2 Data Set, create and calculate the following in Microsoft® Excel®:

1. Create a pie chart which summarizes the colors of the cars in the sample.

2. Create a bar chart which summarizes the number of each of the models of cars in the sample.

3. Create a frequency table for classes of MPG, including frequency and relative frequency for the cars in the sample.

4. Calculate the mean Days in Inventory for the cars in the sample. Also, do the following:

• Compare the mean to the median and the mode.
• Highlight the value that would be a better representation of the “typical” price of a car in inventory.

5. Calculate the standard deviation of the Days in Inventory for the cars in the sample.

6. Calculate the 5 number summary for the suggested retail prices of the cars in the sample. This consists of the 1st, 2nd, 3rd, 4th quartile, and the IQR.