Refer to the Know Thy Customer dataset. Compute the mean, range, and standard deviation of the Income and Age columns. Develop a histogram of the data. Use a Pivot Table to get creative with examining...

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Refer to the Know Thy Customer dataset. Compute the mean, range, and standard deviation of the Income and Age columns. Develop a histogram of the data. Use a Pivot Table to get creative with examining the data. For example, see how many people are married, how many of those married couples have children, and what their average income is.Using this data, write a post explaining how such information can be helpful if you are a business owner and you are trying to know more about your customer.
Biblical Application:

The Bible is filled with the use of numbers and statistics (i.e. Exodus 25:10-16-Ark of the Covenant). Compare and contrast one biblical concept of statistics and how we should live our lives.

Support your post with at least two scholarly journal references. (a minimum of 200 words in length)

knowthycustomer-zjqnvgrm.xlsx

Answered 2 days AfterMay 28, 2021

Answer To: Refer to the Know Thy Customer dataset. Compute the mean, range, and standard deviation of the...

Sudharsan.J answered on May 30 2021

137 Votes

Know Your Customer

    Income
    Age
    Mean
    27524.03
    42.40
    Minimum
    5014.21
    18.00
    Maximum

    63130.10
    67.00
    Range
    58115.89
    49.00
    Standard deviation
    12899.47
    14.42
· Based on the Know the customer data, the average income of the customer is $27524.03, and the average age is 42. There was a huge deviation found in Income and Age, it is confirmed based the deviation mentioned above table. Since minimum salary of the customer is 5014.21 and the maximum is 63130.10, hence the range seems to be in peak.
· Below shows the histogram of Income and Age variable. From the Graph-1, we found that most of the customers income ranges between $21214-$26614, followed by $15814- $21214.
Graph-1
· From the Graph-2, we found that most of the customers falls on the Age between 40-45, followed by $45-50
Graph-2
    Married
    0- No
    204
    1- Yes
    396
    Total
    600

    Children
    Average Income
    Not Married
    221
     $ 27,674.63
    Married
    386
     $ 27,446.45
    Total
    607

    Age...

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Refer to the Know Thy Customer dataset. Compute the mean, range, and standard deviation of the Income and Age columns. Develop a histogram of the data. Use a Pivot Table to get creative with examining...

Answer To: Refer to the Know Thy Customer dataset. Compute the mean, range, and standard deviation of the...

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