# problems

Date

Sweet Crude \$

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Brent Crude \$

17-May-90

18.89

17.05

18-May-90

18.78

17.08

21-May-90

18.26

16.65

22-May-90

17.51

16.48

23-May-90

16.25

15.7

24-May-90

16.02

15.8

25-May-90

16.12

15.95

29-May-90

18

15.48

30-May-90

17.88

15.98

31-May-90

17.47

15.3

1-Jun-90

17.51

15.43

4-Jun-90

17.09

15.35

5-Jun-90

16.41

14.78

6-Jun-90

16.91

14.8

7-Jun-90

16.65

15.03

8-Jun-90

16.78

14.68

11-Jun-90

16.82

14.73

12-Jun-90

17.39

14.95

1)      Use the per-barrel oil price data provided above to create a line chart using Excel that plots both prices. Be sure that the date is on the X-axis and the price in dollars is on the Y-Axis.

2)      Use the per-barrel oil price data provided above to create a Bar chart using Excel that plots both prices. Be sure that the date is on the X-axis and the price in dollars is on the Y-Axis.

3)      Create descriptive statistics including mean, mode, median, range, high, low, variance and standard deviation for the two different oil prices above.  Comment in detail on the similarities and differences.

4)      What is the kurtosis (research kurtosis on your own) and skew of the two oil prices shown above? What does this mean? Explain.

5)      Create a histogram for each of the two oil prices shown.

6)      Does the data seem closer to being normal (empirical rule) or not? Use you answers from problems 1-5 above to explain.

1)      The Operational experts of Woodbridge Electric have announced a breakthrough in the production process and the mean of the same bulb has increased to 9000 hours and the standard deviation has decreasing to 200 hours (again assume a normal distribution).  Using the same 2.5% constraint how does this affect the warranty? Is this good news or bad for the customers and the firm?