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

Stats - Essay ExampleThe median mature of the buyer is 46 days 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 are 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 above 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 mesh and age of the buyer, there appears a positive linear relationship between vehicle dinero 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 Groups marketing departments belief that younger buyers purchase vehicles on which lower profits are earned and the older buyers purchase vehicles on which high er 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 weak 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 weakened 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 physical exertion this information as part of an upcoming 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 monetary values in the UK, London and North East from 1986 until 2013. In the year 1986, the average house price in the London, No rth East and UK were