Module 2 – Case2: Risk: Frequency Distribution, Probabilities,
and Expected Value

Assignment Overview:

Scenario: Your boss has asked you to analyze
the ages of your customers to get a better idea of what might
motivate their buying habits. Outside research has shown that
different age groups buy products for different reasons. And that
different age groups buy different kinds of products. Your boss
developed a survey that was sent to 200 of your customers and
simply asked their age and income level. 124 customers responded
and received a gift card for $25 towards their next purchase. See
the Data section below for the raw data.

Case Assignment:

Using Excel, create a frequency distribution (histogram) of the
age data that was captured from the survey. You should consider the
width of the age categories (e.g., 5 years, 10 years, or ??). Once
you have created this histogram, determine the mean, median and
mode.

Then write a report to your boss that briefly describes the
results that you obtained. Make a recommendation on how this data
might be used for marketing purposes.

Data: Download the Word file Case 2 Data.docx
or the Excel-based data file Case 2 Data.xls with the data of ages
of the 124 customers. Use this data in Excel to create your
histogram.

Below is Data needed:

Assignment Expectations:

Analysis

Accurate and complete analysis in Excel using the Histogram
function.

Written Report

Length requirements = 4–5 pages minimum (not including
Cover and Reference pages).

Provide a brief introduction/ background of the problem.

Complete and accurate Excel analysis.

Written analysis that supports Excel analysis, and provides
thorough discussion of assumptions, rationale, and logic used.

Complete, meaningful, and accurate recommendation(s).