RISK: FREQUENCY DISTRIBUTION, PROBABILITIES,AND EXPECTED VALUEAssignment OverviewScenario: Your boss

RISK: FREQUENCY DISTRIBUTION, PROBABILITIES,AND EXPECTED VALUEAssignment OverviewScenario: Your boss

RISK: FREQUENCY DISTRIBUTION, PROBABILITIES,AND EXPECTED VALUEAssignment OverviewScenario: Your boss has asked you to analyze the ages ofyour customers to get a better idea of what might motivatetheir buying habits. Outside research has shown thatdifferent age groups buy products for different reasons. Andthat different age groups buy different kinds of products.Your boss developed a survey that was sent to 200 of yourcustomers and simply asked their age and income level. 124customers responded and received a gift card for $25towards their next purchase. See the Data section below forthe raw data.Case AssignmentUsing Excel, create a frequency distribution (histogram) ofthe age data that was captured from the survey. You shouldconsider the width of the age categories (e.g., 5 years, 10years, or ??). Once you have created this histogram,determine the mean, median and mode.Then write a report to your boss that briefly describes theresults that you obtained. Make a recommendation on howthis data might be used for marketing purposes.Data: Download the Word file Case 2 Data.docx or the Excelbased data file Case 2 Data.xls with the data of ages of the124 customers. Use this data in Excel to create yourhistogram.Assignment ExpectationsAnalysisAccurate and complete analysis in Excel using the Histogram function.Written ReportLength requirements = 4–5 pages minimum (not including Cover andReference pages)

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