McGivern Jewellers is located in the Levis Square Mall just south of Toledo, Ohio. Recently it ran an advertisement in the local newspaper reporting the shape, size, price, and cut grade for 33 of its diamonds currently in stock. The information is reported in the attached Excel file.
(Please see the attachment for the chart.)
b) Develop a box plot of the variable size and comment on the results. Are there any outliers? What is the median price? What is the value of the first and the third quartile?
c) Develop a scatter diagram between the variables price and size. Be sure to put price on the vertical axis and size on the horizontal axis. Does there seem to be an association between the two variables? Is the association direct or indirect? Does any point seem to be different from the others?
d) Develop a contingency table for the variables shape and cut grade. What is the most common cut grade? What is the most common shape? What is the most common combination of cut grade and shape?
This solution is comprised of a detailed explanation of creating box plots using excel. In this solution, step-by-step explanation of this complicated topic provides students with a clear perspective of creation of box plot using excel and also the box plot template is provided for making the graph.