DISTRIBUTION, PROBABILITIES, AND EXPECTED VALUE
Scenario:Your boss has asked you to analyze the ages of
your customers to get a better idea of what might motivate their buying habits.
Outside research has shown that different age groups buy products for different
reasons. And that different age groups buy different kinds of products. Your
boss developed a survey that was sent to 200 of your customers and simply asked
their age and income level. 124 customers responded and received a gift card
for $25 towards their next purchase. See the Data section below for the raw
Using Excel, create a
frequency distribution (histogram) of the age data that was captured from the
survey. You should consider the width of the age categories (e.g., 5 years, 10
years, or ??). Once you have created this histogram, determine the mean, median
Then write a report to
your boss that briefly describes the results that you obtained. Make a
recommendation on how this data might be used for marketing purposes.
Accurate and complete
analysis in Excel using the Histogram function.
Length requirements = 4–5 pages
minimum(not including Cover
and Reference pages)