PART 1

Task 1: Ungrouped Descriptive Statistics [10 marks]
To gain some insights into the typical price consumers are willing to pay for a stand mixer, a retailer of kitchen
appliances randomly selected 130 relevant invoices for transactions completed in October 2020. Descriptive
statistics, computed to summarise the data, are presented in Table 1 below. NB: Some values are missing. This
table has been made available in the Excel file named “MN4063QA July21CWK 1 Data” under the tab labelled
Task 1.

Table 1 – Ungrouped Descriptive Statistics


Required for Task 1 (Comments for task 1 should not exceed 50 words in total.)

a. With reference to Table 1 above and using a calculator, find the Sum and Variance. Insert your values
on the table and copy into your Word document.

b. Interpret the mean and standard deviation in the context of the scenario provided. NB: You
should not describe calculation methods.