Professor Smith has taught Business Statistics at Local College for a number of years. Below are the summary data from Professor Simth?s Business Statistics courses over that time period.

a. Please perform a thorough analysis of the 5 years of data given above. As part of your analysis construct a time series graph of the means. Discuss the amount of variation in the data also ? which year displays the most variation in grades, which year the least? What can you say about the potential shapes of each year's data? Please give a thorough explanation of all of your answers and analysis.

b. Recently, there has been considerable discussion on grade inflation at Local College. Grade inflation is the phenomenon by which the 'average" grades in a course become higher over time. Given your analysis in part a, does there appear to be grade inflation or grade creep, at least in Professor Smith's Business Statistics course? Explain your answer.

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mean median st. dev variance Max min Q1 Q3 CV Range IQR n Year 1 81.34 81.51 5.32 28.26 91.93 69.02 77.59 85.16 6.54 22.91 7.57 100 Year 2 82.91 83.46 7.15 51.14 95.71 61.13 78.16 87.70 8.62 34.58 9.54 100 Year 3 83.85 84.05 6.52 42.54 99.00 71.17 79.14 87.73 7.78 27.83 8.59 103 Year 4 85.85 86.63 5.73 32.79 93.88 59.54 82.41 90.35 6.67 34.34 7.94 101 Year 5 84.83 85.63 6.18 38.21 97.13 69.54 80.60 89.66 7.29 27.59 9.05 102 100.00 95.00 90.00 85.00 80.00 75.00 70.00 65.00 60.00 55.00 50.00 Professor Smith's Business Stats 4 Year 1 4 Year 2 4 Year 3 Year 4 Year 5 q1 min median x max xq3 mean median st. dev variance Max min Q1 Q3 CV Range IQR n Year 1 81.34 81.51 5.32 28.26 91.93 69.02 77.59 85.16 6.54 22.91 7.57 100 Year 2 82.91 83.46 7.15 51.14 95.71 61.13 78.16 87.70 8.62 34.58 9.54 100 Year 3 83.85 84.05 6.52 42.54 99.00 71.17 79.14 87.73 7.78 27.83 8.59 103 Year 4 85.85 86.63 5.73 32.79 93.88 59.54 82.41 90.35 6.67 34.34 7.94 101 Year 5 84.83 85.63 6.18 38.21 97.13 69.54 80.60 89.66 7.29 27.59 9.05 102 100.00 95.00 90.00 85.00 80.00 75.00 70.00 65.00 60.00 55.00 50.00 Professor Smith's Business Stats 4 Year 1 4 Year 2 4 Year 3 Year 4 Year 5 q1 min median x max xq3

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a Time series plot of means is as follows from where there is an overall ... View the full answer