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Using the data set that you identified in week 1, use Excel to find the following descriptive statistics for the price data. ( I have attached the excel, I just need the 150 words or more forum discussion answered. I am unsure how to explain what happened.) Descriptive statistics: Mean Median Standard Deviation Use these summary statistics to make two conclusions or observations about the typical vehicle in the sample. One conclusion must relate to the measure of center (mean/median) and one to the variability (standard deviation) of the vehicles. Next, add an 11th vehicle to the data set. Choose a “supercar” that costs at least $1 million. Recalculate the summary statistics to include this vehicle. Descriptive statistics: Mean Median Standard Deviation Which summary statistics were affected the most by the addition of this outlier? How were they changed, and were you surprised by the results? I encourage you to review the Week 2 descriptive statistics PDF at the bottom of the discussion forums. This will give you a step by step example on how to calculate these values using Excel. I DO NOT recommend doing this by hand. Let Excel do the heavy lifting for you. Instructions: Your initial post should be at least 150 words. I look forward to seeing your mean, median, and standard deviation for your original data set and your data set with the outlier included. Read Quantitative Information Analysis III Chapter 2: Descriptive Statistics and Chapter 13.4 Scatter Plots


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