Round all non$-$integer values to $3$ decimal places.

Periodic Inventory management tracks inventory at the end of an accounting period. At your

firm, periodic inventory management is done monthly. An unexpected increase in monthly

inventory indicates that product demand is low. The opposite indicates that product demand is

high. When demand is weak for a given product your firm produces, you want to notify

production so they can slow production of that product and increase production of a product

that is in high demand.

Periodic inventory management at your firm uses monthly Net Inventory of all the products it

produces: NI $=$ Beginning Inventory $+$ Inventory Produced $-$ Ending Inventory. At the bottom

of this problem is a table that is a record of your firm's NI for one of the products it sells for the

previous $60$ months. Copy this table to cells A$1$ to D$61$ cells in an Excel worksheet. After you

copy the data, $20($the value of $NI$ in month $1$ of $2018)$ should be in cell D$2.$ Delete columns A$,$ B$,$

and C so that NI and its observations are in column A $.$ Highlight the numbers in column A and

then name this set of $60$ cells $"$NI$".$

a$.$ Copy the table below to your Excel spreadsheet so that the values of the upper limits are

in cells E$3$ to E$10.$ Highlight cells E$3$ to E$10$ and name this set of cells "bins."

b$.$ Highlight cells F$3$ to F$10,$ type $=$ FREQUENCY$($NI$,$ bins$),$ and then, with the SHIFT and CTRL

pressed down $($press down the SHIFT and CMD keys on a Mac$),$ press the ENTER key. The

result produces the frequencies for the following table. Use these frequencies to compute

the cumulative frequencies for the table below.

c$.$ Use Excel to compute the descriptive statistics for NI$.$ The number of modes is

If there are multiple modes, enter the smallest mode below.

d$.$ Use Excl's $=$PERCENTILE.EXC$($ command to compute the ${50}^{th}$ percentile:

e$.$ Use Excl's $=$QUARTILE.EXC$($ command to compute the $2^{nd}$ quartile: