Descriptive Statistics Analyses

in preparation for writing your report to senior management next week, conduct the following descriptive statistics analyses with Microsoft® Excel®. Answer the questions below in your Microsoft® Excel® sheet or in a separate Microsoft® Word document:

• Insert a new column in the database that corresponds to “Annual Sales.” Annual Sales is the result of  multiplying a restaurant’s “SqFt.” by “Sales/SqFt.”
• Calculate the mean, standard  deviation, skew, 5-number summary, and interquartile range (IQR) for each of the variables.
• Create a box-plot for the “Annual Sales” variable. Does it look symmetric? Would you prefer the IQR instead  of the standard deviation to describe this variable’s dispersion? Why?
• Create a histogram for the “Sales/SqFt” variable. Is the distribution symmetric? If not, what is the skew? Are there any outliers? If so, which one(s)? What is the “SqFt” area      of the outlier(s)? Is the outlier(s) smaller or larger than the average  restaurant in the database? What can you conclude from this observation?
• What measure of central tendency  is more appropriate to describe “Sales/SqFt”? Why?