Descriptive Statistics

Introduction
This week’s team assignment is to collect the team member’s descriptive statistics for week four incorporating the best elements into one team data analysis paper, including data and charts.
Descriptive Statistics The research topic for this paper is “McDonald’s is Closing Hundreds of Stores.” As part of the research a sample size of 400 was selected to ensure accuracy of results based on the population size of 410. The given sample size was randomly surveyed to test the variables – Independent Variable - Change in consumer food preference and competitive market place and Dependent Variable – Reduced sales hence reduced profit.
Age
Three Hundred and Eighty-Five McDonald’s consumers were randomly selected and their ages measured. The age ranges were 15 and 65 years. Average consumer is aged 31 with a standard deviation of 14 years. Approximately half or more of their ages are above 31.
Income
The income of the randomly surveyed consumers is averaged at $30.82 and with a standard deviation of $14.04. Income range is $15 to $65 and there is enough evidence that half or more of these consumers averages $30.82 per year.
Strengths and Weaknesses of Team Members’ Individual Assignments Efforts were made by each team member to better understand the use of the statistical tool made available to us (MegaStat). More knowledge was gained and applied in the interpretation of data and findings on this paper. Additionally, each team member pulled their weight in the interpretation and findings in the completion of their individual assignments. The team however had some differences with the interpretation and findings. This was brought to the table and addressed by the team. These differences of opinion provided a great insight and created more awareness of the topic and the company on the study. With any