Question

Varatta Enterprises sells industrial plumbing valves. The following table lists the annual sales amounts for the different salespeople in the organization for the most recent fiscal year. Click on the datafile logo to reference the data. Salesperson Sales Amount ($1000) Joseph 125 Wei 468 Jennifer 244 Samantha 415 Phillip 576 Erin 235 Stanley 318 Dominic 323 Luke 264 Charlie 186 Lexie 179 Amol 211 Margaret 355 Lenisa 431 a. Compute the mean, variance, and standard deviation for these annual sales values. Round your answers to the nearest whole number. Mean: Variance: Standard deviation: b. In the previous fiscal year, the average annual sales amount was [insert average sales amount] with a standard deviation of [insert standard deviation]. Discuss any differences you observe between the annual sales amount in the most recent and previous fiscal years. (i) The difference in the mean annual sales amount is very small and is most likely due to random change in demand for these products. (ii) The sample mean annual sales amount and standard deviation for the previous fiscal year were significantly higher. (iii) The sample mean annual sales amount and standard deviation for the previous fiscal year were significantly lower. Choose the correct option. - Select your answer - Choice (i) Choice (ii) Choice (iii) Item 4

          Varatta Enterprises sells industrial plumbing valves. The following table lists the annual sales amounts for the different salespeople in the organization for the most recent fiscal year. Click on the datafile logo to reference the data.

Salesperson   Sales Amount ($1000)
Joseph        125
Wei           468
Jennifer      244
Samantha      415
Phillip       576
Erin          235
Stanley       318
Dominic       323
Luke          264
Charlie       186
Lexie         179
Amol          211
Margaret      355
Lenisa        431

a. Compute the mean, variance, and standard deviation for these annual sales values. Round your answers to the nearest whole number.

Mean: 
Variance: 
Standard deviation: 

b. In the previous fiscal year, the average annual sales amount was [insert average sales amount] with a standard deviation of [insert standard deviation]. Discuss any differences you observe between the annual sales amount in the most recent and previous fiscal years.

(i) The difference in the mean annual sales amount is very small and is most likely due to random change in demand for these products.
(ii) The sample mean annual sales amount and standard deviation for the previous fiscal year were significantly higher.
(iii) The sample mean annual sales amount and standard deviation for the previous fiscal year were significantly lower.

Choose the correct option.
- Select your answer -
Choice (i)
Choice (ii)
Choice (iii)
Item 4

Added by Jill V.

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