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Risk: Frequency Distribution, Probabilities, and Expected Value Case

Module 2:

Module 2 – Case INSTRUCTIONS
Assignment Overview
Scenario: Your boss has asked you to analyze the ages of your customers to get a better idea of what might motivate their buying habits. Outside research has shown that different age groups buy products for different reasons. And that different age groups buy different kinds of products. Your boss developed a survey that was sent to 200 of your customers and simply asked their age and income level. 124 customers responded and received a gift card for $25 towards their next purchase. See the Data section below for the raw data.
Case Assignment
Using Excel, create a frequency distribution (histogram) of the age data that was captured from the survey. You should consider the width of the age categories (e.g., 5 years, 10 years, or ??). Once you have created this histogram, determine the mean, median and mode.
Then write a report to your boss that briefly describes the results that you obtained. Make a recommendation on how this data might be used for marketing purposes.
Data: Download the Word file Case 2 Data.docx or the Excel-based data file Case 2 Data.xlsx with the data of ages of the 124 customers. Use this data in Excel to create your histogram.
Assignment Expectations
Analysis
• Accurate and complete analysis in Excel using the Histogram function.
Written Report
• Length requirements = 4–5 pages minimum (not including Cover and Reference pages)
• Provide a brief introduction/ background of the problem.
• Complete and accurate Excel analysis.
• Written analysis that supports Excel analysis, and provides thorough discussion of assumptions, rationale, and logic used.
Complete, meaningful, and accurate recommendation(s).

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