Elena, the owner of a Flower Shop, realised the importance of analysing the store's product sales using statistical analysis while studying Business in college. She has collected some data but is finding it difficult to analyse it. So she has decided to hire you as her consultant.
The data below shows the number of flower bouquets sold in different price ranges.
|
Amount Spent (£)
|
No. of Bouquets
|
|
0-10
|
5
|
|
10-20
|
7
|
|
20-30
|
10
|
|
30-40
|
12
|
|
40-50
|
14
|
|
50-60
|
15
|
|
60-70
|
14
|
|
70-80
|
13
|
|
80-90
|
6
|
|
90-100
|
4
|
You are required to calculate the following:
- Mean, Median and Mode and advise her on the best price range for her bouquets.
- Range and Standard Deviation.
- 25th Percentile (Lower Quartile) and 75th Percentile (Upper Quartile) and explain the use of Percentile for her store.
- Inter-quartile range.