Assignment on Mathematical Skills on Business

by Ryan Thompson January 11, 2016
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Question

In the Applewood Auto Group data set, there are four variables for each vehicle sale last month:age of buyer,amount of profit,location and type of vehicle sold.

You are required to put together a report that summarises the data and presents it in a logical manner keeping in mind the following requirements

1.Your manager would like you to summarise last months’ sales by location and

a) Create a frequency table for vehicles sold last month at Applewood Auto Group by location

b) Create a Relative frequency table showing the percentage of total cars sold at each 4 locations

c) Create a Bar chart of the Number of vechiles

Solution

We return to the situation where the boss of the Applewood Auto Group wants you to develop tables, charts and graphs to show the typical profit for each sale. The data set reports the profit on each of the 180 vehicles sold last month at the four Applewood locations.

  1. Construct a histogram of the Profits on 180 vehicles sold at the Applewood Auto Group
  2. Discuss the histogram results

The Histogram for the profits on the 180 vehicles is illustrated below.

BinFrequency
2941
524.61547
755.23082
985.84628
1216.46211
1447.07718
1677.69220
1908.30827
2138.92325
2369.53823
2600.15415
2830.76911
3061.3859
More3

maths

(b) The results of the Histogram reveal that, the overall profits obtained from the 180 vehicles can be evenly distributed across 14 bins, which act as the ‘Upper limits of data’. They begin from $294, having a frequency of 1. This implies that the lowest profit made was $294 in one of the sold cars. The highest frequency of profit made was higher than $1,677.69 and lower than $1908.3, and was obtained for 27 out of the 180 cars. Similarly, only 3 cars could fetch a profit greater than $3061.38.

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