Calculate the average cost of a pack of cigarettes

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Reference no: EM133573648

In this Discussion, examine the importance of applying statistical concepts to data in order to create information that will guide decision making. You will gather data on the costs that cigarettes incur for people who smoke and consider ways in which various professionals can use that information to address smoking from a public health perspective, to increase profits from an economic perspective, or more.

Call at least 10 convenience stores and/or grocery stores in your area and ask for the price of a pack of cigarettes. It can be for any brand, but make sure that the prices are all for the same-sized pack of the same brand. As an alternate, you can look up prices online or visit physical locations.
From those data, calculate the average cost of a pack of cigarettes in your area for the brand you chose.
Calculate the average cost per year for a one-pack-per-day smoker in your area.

Explain how the information from calculating the average costs of a product can be used by businesses and professionals. In your explanation, do the following:

Include your data set and the results from your calculations.
Explain how at least one of the following might use the information from this analysis: retailers, suppliers, health care professionals, public health professionals, or those from another business or profession.
Explain why it was important to summarize the prices, instead of just calling one retailer for the price? Would the mean or the median be a more representative number, given your data?
To support your response, be sure to reference at least one properly cited scholarly source.

Reference no: EM133573648

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