1. Moving Average (40%)

Consider a dataset representing the daily sales figures (in dollars) of a retail store over a period of one month. The dataset contains 30 data points, each representing the sales amount for a specific day.

A - To smooth out the daily sales fluctuations, the store owner decides to calculate a 5-day moving average.

1. Explain the concept of a moving average and how it can help the store manager.

1. Calculate the 5-day moving average of the dataset. Show your calculations and your figure.

B- While examining the dataset, the store owner notices a sales figure of $200 that is significantly higher than the rest. This value appears to be an outlier.?

1. Define what an outlier is in statistics.

1. Discuss the potential impact of outliers on statistical analysis.