Business Decision Making:
The data below shows the number of cloths sold in different price spent by 100 customers
Amount Spent (£) No. of clothing items
20-30 12
30-40 15
40-50 16
50-60 20
60-70 14
70-80 10
80-90 7
90-100 6
You are required to calculate and analyse the following:
1. Mean, Median and Mode and advise him on the best price range for his cloths.
2. Looking at the results analyse the data such as the range and standard Deviation and how this information will help John.
3. 25th Percentile (Lower Quartile) and 75th Percentile (Upper Quartile) and explain the use of percentile would aid John in making decisions for his store. (A.C 2.4)
4. Explain how inter-quartile range would help John make decisions in his shop.