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The data contained in the DATAfile named FoodIndustry show the company/chain name, the average sales per store ($1000s), and the food segment industry for 47 restaurant chains ( Quick Service Restaurant Magazine website, August 2013). a. What was the mean U.S. sales per store for the 47 restaurant chains? b. What are the first and third quartiles? What is your interpretation of the quartiles? c. Show a box plot for the level of sales and discuss if there are any outliers in terms of sales that would skew the results. d. Develop a frequency distribution showing the average sales per store for each segment. Comment on the results obtained.

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STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

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Chapter
Section
BuyFindarrow_forward

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
Chapter 3, Problem 69SE
Textbook Problem
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The data contained in the DATAfile named FoodIndustry show the company/chain name, the average sales per store ($1000s), and the food segment industry for 47 restaurant chains (Quick Service Restaurant Magazine website, August 2013).

  1. a. What was the mean U.S. sales per store for the 47 restaurant chains?
  2. b. What are the first and third quartiles? What is your interpretation of the quartiles?
  3. c. Show a box plot for the level of sales and discuss if there are any outliers in terms of sales that would skew the results.
  4. d. Develop a frequency distribution showing the average sales per store for each segment. Comment on the results obtained.

a.

To determine

Find the mean U.S. sales per store for the 47 restaurant chains.

Explanation of Solution

Calculation:

The given information is that the data shows the company/chain name, the average sales per store ($1,000s) and the food segment industry for 47 restaurant chains.

Software Procedure:

Step by step procedure to obtain the mean using the MINITAB software:

  • Choose Stat > Basic Statistics > Display Descriptive Statistics.
  • In Variables enter the columns 2012 U...

b.

To determine

Find the first and third quartiles and interpret the same.

c.

To determine

Draw the boxplot for the level of sales and discuss if there are any outliers in terms of sales that would skew the results.

d.

To determine

Develop a frequency distribution showing the average sales per store for each segment and comment on the result obtained.

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