The Empty Gas Tank

The Empty splatter Tank: A report on the effects of wage hike gas termss Sheila K. Blohm Ashford University BUS 308: Statistics for Managers Instructor, Pamela murphy July 02, 2012 The Empty Gas Tank: A report on the effects of rising gas prices Gas prices affect the good margin of every(prenominal) industry, especially service industries that ply transportation of goods or go such as Mercury Delivery operate (MDS). cosmos in an industry that is driven by force out prices, it is suddenly necessary to know and understand the past and future(a) price of fuel in baffle to remain in business. victimisation selective information gather by the U.S. Department of labour, dresser of Labor Statistics (BLS), to obtain the U.S. city average price per gal of unleaded regular gaseous state from January 1982 through February 2011, statistical analyses were conducted that can match how the price of gasoline affects MDS. This report get out state what analys es were faultless on the gathered information, explain the statistical analysis completed, and offer the results of the analysis with conclusions drawn from the data. An analysis of the data flock gathered by BLS provides enough information to send for potential trends for gasoline prices.

While determining monthly trends could evince invaluable for short-term goals, one-year analysis and trend predictions provide information that is more useful to draw far-r each(prenominal)ing conclusions. The data set gathered by BLS provided the average price of gasoline on a monthly basis for the years 1982 through F ebruary 2011. As such, the first grade wa! s to determine the yearly average price or the annual mean price. The mean is an estimate of the place of the data sample. It is fix by adding all the values of the data and dividing by the tally of values. Therefore, the average prices for each month of each year were added unneurotic and then divided by 12, nevertheless for 2011, which was divided by 2 as there was merely data gettable for January and February. Using the annual...If you want to get a full essay, order it on our website: BestEssayCheap.com

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