Question;Problem 1: Cadillac?s Lagging SalesFor many years, the top selling luxury car in North America was the Cadillac. It reigned from 1950 to 1998. In 2000, it sank to 6th, behind, Lexus, BMW, and Mercedes. Cadillac?s sales during 2000 were half those of 1978, Cadillac?s peak year. The problem is that Cadillac appears to appeal mainly to older males. Younger people seeking luxury cars shop elsewhere. Although Cadillac made $700 million in 2000, if the company does not pick up sales among younger shoppers, profits will go the way of fins. To put Cadillac back on top, it is necessary to understand who is buying. A survey of luxury car buyers was undertaken. The following information was gathered from random samples of recent buyers of luxury cars. (Keller, 8th edition)In the attached data file, Columns 1-5 contain the ages of the owners of five luxury cars (BMW, Cadillac, Lexus, Lincoln, Mercedes), columns 6-10 show their household incomes, and Columns 11-15 have their years of education.Thoroughly analyze the data for all five groups of car buyers using both numerical and graphical descriptive statistics. I really want you to explore the data. Compare all the groups to each other. Be sure you consider both central tendency and variability in both your graphs and numerical analysis. Also be sure to consider any relationships between variables.You should be sure that your report includes the following:Based on your descriptive statistics, I want you to give some insights and interpretations of the data. Discuss the descriptive statistics for each variable. What do these variables mean? If a given average is high or low, does that make logical sense based on what these variables are? You must include a discussion of variability. Does the variability of a given variable seem reasonable? Is it high or low? What implications does this have for the analysis? What do the graphs really show you.Key things I?ll be looking for on Case 1 ---? Insights! Not just numbers! Show me that you are thinking -- if you make some assumptions, state them.? Demonstrated understanding of the concept of and importance of variability.? Creativity in using graphs and tables in your analysis and insights about those comparisons.? Some conclusions based on your analysis.
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