Develop a 750 - 900-word report in which you answer the following:
1.) Calculate the mean, median, mode and standard deviation for all cities for a pizza. Determine the normal distribution curve, showing the costs at 1, 2, and 3 standard deviations above and below the mean. Translate those into Z scores. Discuss why your monthly expenses might vary that much above or below the mean. What is the empirical rule? Does your data fit the empirical rule? Why or why not? If you do not know how to use the Data Analysis Toolpak, you can watch the videos in Week 2. Or you can just create the metrics by using the functions.
See this video for that: https://www.youtube.com/watch?v=2rEhWFhSqnI
2.) Use inferential analysis to determine the average cost of eggs, orange juice and coffee in Arizona, Missouri and South Carolina for the population of those states. Explain what makes your approach inferential?
3.) Develop a continous probability distribution table for ground beef for all cities listed. You may create classifications in
less than $3.00
$3.01-$3.50
$3.51-$4.00
$4.01-$4.50
$5.00 or morec.
Calculate the relative and cumulative frequencies for each classification.
What is the probability you would have to spend less than $3.50 for a pound of ground meat?
What is the probability that you would have to spend more than $4.50 for a pound of ground meat?
Which classification would you have the greatest probability of buying?
Explain how relative frequencies relate to probabilities?
(If you do not know how to sort values in Excel, refer to this video: https://www.youtube.com/watch?v=IrymK7jx-34
4.) On an ongoing basis, how would probability analysis help you set a budget for the 2nd year you lived in this city?
Format your assignment consistent with APA guidelines.