Let’s analyze all of the sales transactions together. In Excel, calculate descriptive statistics for sales price, cost, gross margin, and gross margin percentage for all sales transactions. Use the output to answer the following questions:

a. How many rows of data are in the data set?

b. What is the average sales price, cost, and gross margin?

c. How are the averages of sales price, cost, and gross margin related?

d. Assuming the company incurs no other costs, how many dollars is the average profit on a transaction?

e. On average, what percent profit does Skydio make on one item?

f. How is the range calculated? Show an example using the numbers in the output.

g. Is gross margin skewed? If so, is it positively skewed or negatively skewed? What does that mean?