MAT 205 College of St Joseph Revenues of Poptastic Standard Deviation Project

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Mathematics

MAT 205

College of St Joseph

MAT

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Spring 2021 MAT205 Project #2 Once you understand descriptive statistics and can calculate statistical measures by hand, the ability to use spreadsheet formulas to assist with these calculations saves a lot of time and energy. Those who use statistics in the workforce for decision making, predictions, etc. will tell you that it is very important to understand descriptive statistics and be able to calculate statistical measures by hand, but it is even more important to understand the results and apply them to scenarios. Case study: You are the owner of “Poptastic”. For the past 12 months, to help supplement your family’s income, you have sold premium, homemade popsicles from your food truck on the weekends in your hometown of Key West, FL. You want to take a close look at your monthly revenues for the year (rounded to the nearest dollar): January February March April May June July August September October November December $2190 $1820 $3090 $3140 $3540 $4590 $5210 $4730 $3900 $3540 $3250 $2620 In this project, you will use spreadsheet formulas (via Microsoft Excel or Google Sheets) to find the following for your monthly revenues (watch the Kaltura demo video in our Week 6 Checklist announcement to see how to do these calculations on an example set of data in Excel): 1. 2. 3. 4. 5. Mean Median Mode Range Standard deviation You will also create the following visuals with your data: 1. Vertical bar graph (please, no horizontal bar graphs) 2. Line graph You will then use these results and visuals to make a few decisions going forward for your homemade popsicle business. Please type in your answers directly after the questions below (in blue font please so it stands out): 1. Which visual do you feel most clearly communicates your monthly revenue for the year, the bar graph or the line graph? Why? 2. What do you feel is the best measure of central tendency for your business, the mean, median, or mode? Why? 3. You are considering hiring some part-time help so that you can sell popsicles all throughout the week. Which month(s) do you feel would be best to sell all throughout the week? Why? 4. Based on a friend’s analysis of your business (he is a business consultant), he says it would be best to only hire part-time work for months where monthly revenue was more than 1 standard deviation above the mean. According to his advice, which months should you hire part-time help? Please explain and show any work involved. Please save your mean, median, range, and standard deviation calculations, as well as your bar graph and line graph from Excel (or Google Sheets) as demonstrated in the demo video I created. Then answer the last 4 questions above directly in this Word document, using blue font to make it stand out. You will need to submit both the Excel file and Word file in Canvas.
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Explanation & Answer

Hi! Here it is! Kindly check it out and let me know if I can do any other thing for you!

January

February
12

March

April

201

1453

May
2800

June

July

4722

6194

5955

Mean
2488.08
Median
2076
Mode
#N/A
Range
6194
Standard Deviation 2310.67

Bar Grapg

2019 Monthly Cases of Stellavirus in AL
7000

Number of Cases

6000
5000
4000
3000
2000
1000
0
1

2

3

4

5

6

7

8

9

10

11

12

Months (2019)

QUESTIONS

1 I think that the bar charts looks more appealing to the viewer since it marks down every case, from the bottom
2 I think that the best measure of central tendency is the mean, because it gathers all values and spread them ev
3 The highest peak was on June with 6194 cases, the standard dev was of 2310.67. He said that he will do social d

Since in october there was 1283 cases, and the minimum number of cases to stop social distancing was 1572.6

August
4...


Anonymous
This is great! Exactly what I wanted.

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