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Define a new variable pd

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Reference no: EM133172190

Problem:

Does it cost more for an iced coffee or hot coffee? To examine this question data was collected for 41 cafes on the price of a medium sized coffee.

Coffee Shop & Location 

Price of Hot Coffee 

Price of Iced Coffee

2Beans -Grand Central Area

2.70

3.19

Macchiato Caf‚-Grand Central Area

2.15

3.25

Gregorys Coffee-Grand Central Area

2.05

4.65

Zibetto Espresso Bar-Grand Central area

2.50

3.50

Aroma Espresso Bar

2.25

3.15

Caf‚ Grumpy-Grand Central area

2.75

3.25

Hot & Crusty Bakery

2.10

3.25

Irving Farm Coffee

2.50

4.50

Blue Bottle Coffee

2.50

4.00

Dunking Donuts-Grand Cebtral

1.89

2.49

Le Pain 

2.40

3.75

Scottys Diner 

1.50

2.25

Bryant Park 

1.60

1.75

Le Pain Quotidien -w 40th st.

1.70

1.80

Fika -W 41st

1.65

1.79

Culture Espresso-w 38th st.

1.25

1.50

Bryant Park Caffee

1.50

1.90

Caf‚ Zaiya -E 41st.

1.35

1.50

Bluestone Lane-3rd Ave. 

1.30

1.65

Bryant Park Corp.-Ave. of the A.

1.50

1.75

Blue Bottle Coffee-Ave. of the A.

1.30

1.65

Winter Village-W 40th st. 

1.90

1.55

Aroma Espresso-E. 42nd st. 

1.85

2.60

Bluestone Lane -Broad st.

1.70

1.80

Starbucks-6th Ave. 

1.79

1.85

Lady M Cake-W. 40th St. 

1.30

1.60

Piccolo Caf‚-Times Square 

2.15

3.00

Gregory's Coffee -Theater District

2.15

2.60

Green Nature Coffee House 

2.50

3.00

Stumptown Coffee Roasters

2.15

3.15

Simon Sips -Times Square

3.15

3.50

The Coffee Bean & Tea Leaf

2.00

3.15

Yours Truly -Nolita

2.00

3.15

Caf‚ Integral 

2.15

3.15

Paris Baguette 

2.15

2.75

Caffebene-Times Square

2.50

3.15

Abraco Coffee Shop 

2.15

3.00

Schmackary's -Times Square

2.00

2.50

La Colombe-Times Square

2.80

3.15

Prodigy Coffee

3.50

3.70

McNulty's Tea & Coffee Co. 

2.50

3.15

Required:

(a) Compare the price of hot and iced coffee by examining descriptive statistics and by also constructing a histogram and a table of relative frequencies.

(b) Define a new variable PD which is equal to the difference between the price of iced coffee and hot coffee. Produce descriptive statistics and construct a histogram for PD. Comment on your results.

(c) Briefly discuss why you were able to construct the variable PD.

Reference no: EM133172190

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