67%(30)20 out of 30 people found this document helpful
This preview shows page 1 - 3 out of 35 pages.
2G O A L SWhen you have completedthis chapter you will beable to:1Organize qualitative datainto a frequency table.2Present a frequency table asa bar chartor a pie chart.3Organize quantitative datainto a frequency distribution.4Present a frequency distri-bution for quantitative datausing histograms, frequencypolygons, and cumulativefrequency polygons.Describing Data:Frequency Tables, FrequencyDistributions, and Graphic PresentationMerrill Lynch recently completed a study of online investmentportfolios for a sample of clients. For the 70 participants in the study,draw a histogram for the data. (See Exercise 43 and Goal 4.)
Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation21IntroductionThe highly competitive automotive retailing business has changed significantlyover the past 5 years, due in part to consolidation by large, publicly owned deal-ership groups. Traditionally, a local family owned and oper-ated the community dealership, which might have includedone or two manufacturers, like Pontiac and GMC Trucks orChrysler and the popular Jeep line. Recently, however, skill-fully managed and well-financed companies have beenacquiring local dealerships across large regions of the coun-try. As these groups acquire the local dealerships, they oftenbring standard selling practices, common software and hard-ware technology platforms, and management reporting tech-niques. The goal is to provide an improved buying experi-ence for the consumer, while increasing the profitability ofthe larger dealership organization. In many cases, in addi-tion to reaping the financial benefits of selling the dealership, the family is askedto continue running the dealership on a daily basis. Today, it is common for thesemegadealerships to employ over 10,000 people, generate several billion dollarsin annual sales, own more than 100 franchises, and be traded on the New YorkStock Exchange or NASDAQ. Megadealerships include AutoNation (ticker sym-bol AN and the largest), Penske Auto Group (PAG and second largest), AsburyAutomotive Group (ABG), and Hendrick Auto Group (which is privately held).The consolidation has not come without challenges. With the acquisition of dealerships across the country, AutoUSA, one of the new megadealerships, nowsells the inexpensive Korean import brands Kia and Hyundai, the high-line BMWand Mercedes Benz sedans, and a full line of Ford and Chevrolet cars and trucks.Ms. Kathryn Ball is a member of the senior management team at AutoUSA. Sheis responsible for tracking and analyzing vehicle selling prices for AutoUSA. Kathrynwould like to summarize vehicle selling prices with charts and graphs that she couldreview monthly. From these tables and charts, she wants to know the typical sell-ing price as well as the lowest and highest prices. She is also interested in describ-ing the demographics of the buyers. What are their ages? How many vehicles dothey own? Do they want to buy or lease the vehicle?