A sample of data on daily prices of three petrol stations

Reference no: EM13371335

A sample of data on daily prices of three petrol stations over a two week period have been collected in the table below. The total sample size should be 42 (3 stations x 14 observations per station).

Observations of daily price of standard unleaded fuel
	Biogas Bellowrie	Caltex/WoolworthsKenmore	Coles Express Chapel Hill
Fri 14/09/2012	137.4	139.2	141.4
Sat 15/09/2012	141.6	143.9	145.9
Sun 16/09/2012	146.5	147.9	150.5
Mon 17/09/2012	148.4	149.9	152.4
Tues 18/09/2012	148.1	149.5	151.9
Wed 19/09/2012	147.3	148.6	150.9
Thurs 20/09/2012	146.2	147.5	149.4
Fri 21/09/2012	145.3	146.5	148.5
Sat 22/09/2012	144.5	145.7	147.8
Sun 23/09/2012	143.9	145.1	147.1
Mon 24/09/2012	142.6	143.8	145.8
Tues 25/09/2012	141.2	142.4	144.4
Wed 26/09/2012	139.7	140.9	142.9
Thurs 27/09/2012	139.7	139.9	141.9

The lecturer is looking for us to analyse the cycle of petrol pricing, what days it reaches its peak and low and how long the cycle is.

(a) Calculate the mean, mode and median of the ungrouped data for each station separately and for the combined sample. So this means to calculate the mean, mode and median of ungrouped data for each column (station) and for all columns (all stations) using AVERAGE(:), MODE (:) and MEDIAN (:). Present the results of the calculation. Include in excel table to be copied and pasted in word document.

(b) For the combined sample, prepare a frequency distribution table (in excel) and plot its frequency histogram. Explain your choice of number of classes and class intervals. (Hint... should be 6 classes). Both the frequency distribution table and the histogram should be separate excel workings to be copied and pasted into word doc, ie histogram will be in excel format but able to be copied and pasted.

(c) Calculate the mean, mode and median of the grouped data derived from the frequency distribution above. Compare the results obtained from (a) and (c).

(d) Discuss any patterns or movements of petrol prices that emerge from results.

Reference no: EM13371335

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