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Problem 1: Cadillac's Lagging Sales For many years the top-selling luxury car in North America was the Cadillac. It reigned from 1950 to 1998.
Problem 1: Cadillac’s Lagging Sales For many years the top-selling luxury car in North America was the Cadillac. It reigned from 1950 to 1998. In 2000 it sank to sixth, behind Lexus, BMW, and Mercedes. Cadillac's sales during 2000 were half that of 1978, Cadillac's peak year. The problem is that Cadillac appeals mainly to older males. Younger people seeking luxury cars shop elsewhere. Although Cadillac made $700 million in 2000, if the company doesn't pick up sales among younger shoppers, profits will go the way of fins. To put Cadillac back on top, it is necessary to understand who is buying. A survey of luxury car buyers was undertaken. The following information was gathered from random samples of recent buyers of the luxury cars. Column Luxury Car 1 BMW 2 Cadillac 3 Lexus 4 Lincoln 5 Mercedes-Benz In the data set columns 1-5 list the ages of the owners of the five luxury cars, columns 6-10 show their household incomes, and columns 11-15 store their years of education. (Source: Company reports and Newsweek magazine, May 28, 2001) Answer the following Questions: 1. Use statistics to describe the ages, household incomes, and education of the five groups of car buyers. 2. Use a graphical technique to compare the ages, household incomes, and education of the five groups of car buyers. (Do not use Box plots or Stem-and-Leaf Display). 3. Write a brief report describing your findings (word limit – less than 75 words).
