UP New Column of Data for Annual Sales Worksheet

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Purpose

This week provides data for your Week 2 Signature paper to senior management. Complete the following descriptive statistics analyses with and in Excel®. 

Instructions. Use the Week 1 Pasta’s R Us (find below in Resources) dataset.

Steps

A. Create a New Column of data for Annual Sales ($’000)

1. Calculate Annual Sales ($’1000) by formula: SqFt * Sales/SqFt/1000. Use two decimals

2. Example: 

Given: Sqft = 2000; Sales/Sqft = 700 

Annual Sales ($’1000) = 2000*700/1000 = 1400.0 ($’1000).

B. Descriptive Statistics Calculations 

1. Calculate the mean, population standard deviation, skew, five-number summary (min, max, median, quartile 1, quartile 3, and the interquartile range (IQR) for all variables. Use two decimals but three decimals for skew. Refer to Excel Functions on second tab.

2. Show the calculations formulas or Excel Functions that were used. 

C. Construct a Single Box and Whisker Plot

1. Use the column Annual Sales ($’1000) 

2. Select all data in the Annual Sales ($’000) column

3. Use Insert > Insert Statistic Chart > Box and Whisker 

4. Finish the chart with a y-axis label

Does the chart look symmetric? Would you prefer the IQR instead of the population standard deviation to describe this variable’s dispersion? Explain? Answer these questions in your Excel sheet.

D. Construct a Single Histogram

1. Use the column Sales/SqFt

2. Select all data in the Sales/SqFt

3. Use Insert > Insert Statistic Chart > Histogram 

4. Finish the chart with x- and y-axis labels

Is the distribution symmetric? If not, what is the skew (negative, positive)? Are there any outliers? If yes, which one(s)? 

What are the SqFt area of the outlier(s)? Is the outlier(s) SqFt smaller or larger than the average restaurant in the database? What can you conclude from this observation? Answer the questions in your Excel sheet.

E. What measure of central tendency (mean, median) is more appropriate to describe Sales/Sqft? Explain? Answer the questions in your Excel sheet.