Option #1: Critical Thinking: Cars An expert who works for a car magazine obtained random data (rounded to the nearest thousand) among two categories of used or new cars: Domestic Foreign The expert would like to understand sales based on list price (rounded to the nearest thousand dollars), sale price (rounded to the nearest thousand dollars), and number of days it takes to sell each car. The complete data set is in the file named Cars. Managerial Report Prepare a report (see below) that summarizes your assessment of the nature of the car market. Be sure to include the following seven items in your report. Calculate descriptive statistics (mean, median, range, standard deviation, and coefficient of variation) to summarize each of the three variables for the all Domestic cars. Use z-scores to determine if there any outliers in the data set for any of the three variables. If there are any outliers in any category, please list them and state for which category they are an outlier. If a result is an outlier, state whether it is below or above the mean. How can one use the above descriptive statistics to understand the Domestic car market better? Could there be any other descriptive statistics that can help one understand the Domestic car market better? Descriptive statistics (mean, median, range, standard deviation, and coefficient of variation) to summarize each of the three variables for the all Foreign cars. Use z-scores to determine if there any outliers in the data set for any of the three variables. If there are any outliers in any category, please list them and state for which category they are an outlier. If a result is an outlier, state whether it is below or above the mean. How can one use the above descriptive statistics to understand the Foreign car market better? Could there be any other descriptive statistic that can help one understand the Foreign car market better? Compare your summary results from #1 and #2. Discuss any specific statistical results that would help the car expert understand the two-car markets. Develop a 98% confidence interval estimate of the population mean sales price and population mean number of days to sell for Domestic cars. What is the margin of error? Interpret what each confidence intervals means. How can both confidence intervals provide useful car sales information? What other confidence interval would you choose to compute to obtain more information related to Domestic car sales? Explain why. What happens to the confidence interval as the level of confidence is increased? Develop a 98% confidence interval estimate of the population mean sales price and population mean number of days to sell for Foreign cars. What is the margin of error? Interpret what each confidence intervals means. How can both confidence intervals provide useful car sales information? What other confidence interval would you choose to compute to obtain more information related to Domestic car sales? Explain why. Assume the car expert requested estimates of the mean number of days to sell for the Domestic cars with a margin of error of seven days and the mean selling price of foreign cars with a margin of error of eight days. Using 98% confidence, how large should the sample sizes be for each one? How could the sample size formula be useful in understanding both types of car businesses? What are some advantages of a larger sample size? Suppose a Domestic car has a list price of $30,000 and a Foreign car has a list price of $30,000. What is your estimate of the final selling price (based on the percent difference for the sale and list price) and number of days required to sell each of these cars? How would these two estimates be useful in this application? Write a report that adheres to the formatting and APA expectations outlined on the CSU Global Writing Center (Links to an external site.). As with all written assignments at CSU Global, you should have in-text citations and a reference page. Submit your Excel file in addition to your report.

InstructionsScenario (information repeated for deliverable 01, 03, and 04)A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from $30,000 to $200,000 per year. As a Business Analyst, your boss asks you to research and analyze the salary distributions. You are given a spreadsheet that contains the following information:A listing of the jobs by titleThe salary (in dollars) for each jobYou have previously explained some of the basic statistics to your client already, and he really liked your work. Now he wants you to analyze the confidence intervals. Background information on the DataThe data set in the spreadsheet consists of 364 records that you will be analyzing from the Bureau of Labor Statistics. The data set contains a listing of several jobs titles with yearly salaries ranging from approximately $30,000 to $200,000 for the state of Minnesota. What to SubmitYour boss wants you to submit the spreadsheet with the completed calculations, answers, and analysis.