Question

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

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

3. Show 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.

Sample Car # Color MPG Suggest Retail Price Option Package Days in Inventory

1 Grey 27.6 $   24,390.00 LX 1

2 Grey 32.4 $   21,780.00 Touring 10

3 Blue 33.2 $   21,149.00 Touring 28

4 Black 34.7 $   22,069.00 LX 21

5 Blue 27.2 $   22,532.00 Touring 16

6 Blue 26.6 $   20,345.00 Touring 22

7 Red 37.3 $   22,112.00 EX 12

8 Silver 34.9 $   21,289.00 Touring 23

9 Silver 29.6 $   24,871.00 LX 15

10 Silver 32.3 $   25,389.00 EX 8

11 Grey 31.9 $   25,998.00 EX 28

12 Red 26.4 $   19,713.00 LX 55

13 Black 34.8 $   25,213.00 EX 2

14 Silver 35.9 $   24,467.00 Touring 33

15 Black 34.6 $   21,402.00 LX 17

16 Black 33.3 $   20,351.00 LX 14

17 Grey 33.1 $   23,732.00 Touring 1

18 Red 37.5 $   24,558.00 Touring 2

19 Red 27.8 $   19,167.00 LX 18

20 Red 36.1 $   19,903.00 Touring 22

21 Blue 28.8 $   22,140.00 Touring 19

22 Red 26.2 $   22,180.00 EX 41

23 Silver 27.4 $   23,120.00 Touring 33

24 Black 34.9 $   19,837.00 Touring 21

25 Red 36.5 $   24,666.00 EX 31

26 Red 26.3 $   19,446.00 EX 35

27 Blue 31.4 $   23,954.00 Touring 11

28 Blue 30.9 $   21,201.00 LX 3

29 Red 27.4 $   21,346.00 EX 26

30 Red 36 $   19,406.00 EX 31

Answer 1

ColourFrequency Grey Blue Black Red Silver 4 5 10 Chart Title Grey Blue Black Red Silver 13% 17% 20% 33% 17%

Frequency table for car model.

modelFreq 8 Touring 13 Freq 14. 12 10 Freq Touring

Frequency table for MPG

upper limite Frequency Relative freq 1 0.033333333 8 0.266666667 2 0.066666667 5 0.166666667 8 0.266666667 0.2 1 26.2 28.46 30.72 32.98 35.24 More 30

Standard deviation of days in inventory for car is 12.86

Median is 20

Mode is 1

Column1 22624.2 Mean Standard Error 520.1993438 Median 22104.5 #N/A Mode Standard Deviation 2849.24915 Sample Variance 8118220.717 Kurtosis 5.045972623 Skewness 1.697857788 Range 13945 Minimum 19167 Maximum 33112 678726 Sum Count 30 Largest(1) Smallest(1) Confidence Level(95.0%) 33112 19167 1063.927102