Decision$-$Making Context: Understanding what happened in the past is an important first step in harnessing the power of business analytics. Descriptive analytics answers the questions $$What happened?$$ and $$What is happening?$$ In this lab, you will use the Excel Analysis ToolPak to generate descriptive analytics of the data described below.

Several years ago, Rob built a table for his son to use in building LEGO creations. The table allowed his son to stand while building, provided a frame to hold LEGO base plates, and got the LEGOs off the floor. Several of Rob$$s neighbors saw the table and asked him to build tables for their children. The tables grew in popularity and Rob eventually quit his job in $2018$ and founded LeTable Incorporated. He now works full$-$time building custom LEGO tables.

Customers select from four different sizes of tables:

Small, which holds $4$ base plates

Medium, which holds $8$ base plates

Large, which holds $16$ base plates

Deluxe, which has multiple levels as well as conduits for electric lights

Customers can also select from five different colors:

Blue

Red

Yellow

Natural $($polyurethane only$)$

Stained

Rob would like an analysis of how the company has performed over the company$$s first five years $(20182022).$

Access the text alternative for Lab $7-1$ Excel. Will open in a new tab or window. Internet connection required.

Required:

Calculate descriptive analytics for selling price, cost, and order process time.

Create a histogram for order process time.

Create a written report to present your results to Rob.

Data: Lab $7-1$ Data.xlsx

Specify the Question: What is the average, median, and mode selling price and cost for LeTable Incorporated over the past five years? What is the standard deviation for selling price and cost? How long does it take LeTable Incorporated to make a table after the order is placed $($that is$,$ process time$)?$

Obtain the Data: This lab uses the data in Lab $7\mathrm{.}1$ Data.xlsx$.$ The data dictionary for this file is below. Note that the order dates range from $1/5/2018$ to $12/31/2022$ for a total of $19,995$ orders. In addition, some orders were not completed and shipped until $2023.$

Analyze the Data: Refer to lab $7\mathrm{.}1$ in your text for additional instructions and steps.

Upload the Word or PDF document containing your Lab screenshots using the button below.

Note: Please submit your file attachment response in one of the approved file formats; Word file $(.$doc or $.$docx$),$ Excel file $(.$xls or $.$xlsx$),$ or PDF$.$ To submit photo or image files please paste them into Word or PDF$.$ Consult with your instructor as needed on their preferred file attachment format.

Create a written report to present your results to Rob. Name your formal report in Word $$Lab $7\mathrm{.}1$ Excel Submission.docx$$