QNT275 Phoenix Week 2 Car Dealership Mean Days in Inventory Project

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Part 1: to be completed in Microsoft® Excel®

You manage the inventory for a car dealership. Data on current inventory can be found in the Week 2 Data Set. Management would like you to assess current inventory on the dealership lot.

Using the Week 2 Data Set, create and calculate the following in Microsoft® Excel®:

  1. Create a pie chart which summarizes the colors of the cars in the sample.
  2. Create a bar chart which summarizes the number of each of the models of cars in the sample.
  3. Create a frequency table for classes of MPG, including frequency and relative frequency for the cars in the sample.
  4. Calculate the mean Days in Inventory for the cars in the sample. Also, do the following:
    • Compare the mean to the median and the mode.
    • Highlight the value that would be a better representation of the “typical” price of a car in inventory.
  5. Calculate the standard deviation of the Days in Inventory for the cars in the sample.
  6. Calculate the 5 number summary for the suggested retail prices of the cars in the sample. This consists of the 1st, 2nd, 3rd, 4th quartile, and the IQR.
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