Question: Imagine you are a data analyst for a company considering expanding into a new market. You have collected sales data from similar markets and need
Imagine you are a data analyst for a company considering expanding into a new market. You have collected sales data from similar markets and need to present your findings to the executive team. Centrality Focus: How would you use measures of centrality (mean, median, and mode) to summarize the sales data for the executive team? Which measure would you emphasize, and why? Consider scenarios where one measure might be more appropriate than the others. Variability Focus: Why is it important to also discuss measures of variability (range, variance, standard deviation, and interquartile range)? How could these measures influence the executive team's decision about market expansion? Practical Considerations: What potential pitfalls should you be aware of when interpreting centrality and variability in this business context (e.g., outliers, skewed data)? How might these affect your recommendations
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