Questions:
Part 1) Provide a description of the data (for all the 95 products together) and show what Mean, Standard Deviation, Coefficient of Variation mean in this context. What conclusions can you draw from these measures?
Part 2) Calculate the Mean, Median, Mode, Standard Deviation, Coefficient of Variation, 95% confidence interval for means for:
o Prices for gender - male and female.
o Prices for fragrance - perfume and cologne.
o Prices for intensity - strong, medium and mild.
o Prices for different countries - France, USA and other.
What conclusions can you draw from these analyses? Also comment on the shape of distributions.
Part 3)You are also required to answer the following questions (For one-sided tests, use the question of interest as the alternative hypothesis):
1. Determine if average prices for female products exceed average prices for male products.
2. Determine if there is evidence to suggest that the variance of prices for male products is equal to those of female products.
3. Determine if average prices for perfume exceeds the average price of cologne.
4. Determine if there is evidence to suggest that the variance of prices for perfume and cologne are equals.
5. Determine if there is a difference in the prices for intensity.
6. Determine if there is a difference for the prices for different countries.