Part 1. The prices of good sold in shops vary from one shop to another.

Shoppers tend to buy goods which are not only reasonably priced but also give value for their money.You are required to carry out a survey on four different items based on different categories. The survey should be done in three different shops.

Conjuction. I think so the price of good sold in Mydin has the reasonable price.It is because Mydin want to be able to keep their carbon emisions down by making new buildings, they also want to make their business objects which have to follow this method Specific - this means that the business can make some specific objectives that the business wants to achieve, so if they want to hit a certain target of profit within a year they have to make a business plan or model to follow to achieve their goal.Besides, Mydin wants to outshine their competitors and remain the market leader. Futhermore, the main aim of Mydin is to maximise profit and to provide goods or services that is cheap and affordable to the consumers or the public.Therefore,I think that the price of good solds in Mydin will be the cheapest.

(a)C ollect pictures,newspaper cuttings or photos on items that you have chosen.Design a collage to illustrate the chosen items.

(b)Record the items and their prices systematically in a table. Since items maybe differently packed, be sure to use consistent measurements for each item selected so that comparison can be done easily and accurately.

Mydin
Egg(1 dozen) RM7.80

Tesco

Econsave

RM7.95

RM7.90

Carrot(1kg)

RM2.29

RM3.99

RM3.98

Margerine(500gm) RM6.99

RM8.99

RM7.59

Milk(1 litre)

RM4.90

RM4.95

RM5.69

(c)Create a suitable graphical representations to compare and contrast the price of the items chosen.

10 9 8 7 6 Mydin 5 4 3 2 1 0 Egg Carrot Margerine Milk Tesco Econsave

(d)Based on the graphical in (c), interpret and discuss your findings.

The prices of egg in the Mydin is the cheapest among the Tesco and Econsave. The price of carrot at Tesco and Econsave whereas at Mydin is the cheapest. The price of margarine at Tesco is the most highest compare to tesco and Econsave. The price of milk at Mydin is slightly cheaper than Tesco.

Conclusion. Lastly,I would say that my conjuction was correct.It is because the price of good sold in Mydin has the reasonable price.It is because Mydin want to be able to keep their carbon emisions down by making new buildings, they also want to make their business objects which have to follow this method Specific - this means that the business can make some specific objectives that the business wants to achieve, so if they want to hit a certain target of profit within a year they have to make a business plan or model to follow to achieve their goal.Besides, Mydin wants to outshine their competitors and remain the market leader. Futhermore, the main aim of Mydin is to maximise profit and to provide goods or services that is cheap and affordable to the consumers or the public.Therefore,I think that the price of good solds in Mydin will be the cheapest.

e) Identify an item that has a large price difference among the shops. Calculate the mean and standard deviation of that particular item. Hence, suggest and discuss possible reasons for the price difference.

Meaning of mean. In statistics, mean has two related meanings:

the arithmetic mean (and is distinguished from the geometric mean or harmonic mean). the expected value of a random variable, which is also called the population mean.

There are other statistical measures that should not be confused with averages - including 'median' and 'mode'. Other simple statistical analyses use measures of spread, such as range, interquartile range, or standard deviation. For a real-valued random variable X, the mean is the expectation of X. Note that not every probability distribution has a defined mean (or variance); see the Cauchy distribution for an example. For a data set, the mean is the sum of the values divided by the number of values. The mean of a set of numbers x1, x2, ..., xn is typically denoted by , pronounced "x bar". This mean is a type of arithmetic mean. If the data set were based on a series of observations obtained by sampling a statistical population, this mean is termed the "sample mean" ( ) to distinguish it from the "population mean" ( or x). The mean is often quoted along with the standard deviation: the mean describes the central location of the data, and the standard deviation describes the spread. An alternative measure of dispersion is the mean deviation, equivalent to the average absolute deviation from the mean. It is less sensitive to outliers, but less mathematically tractable.

If a series of observations is sampled from a larger population (measuring the heights of a sample of adults drawn from the entire world population, for example), or from a probability distribution which gives the probabilities of each possible result, then the larger population or probability distribution can be used to construct a "population mean", which is also the expected value for a sample drawn from this population or probability distribution. For a finite population, this would simply be the arithmetic mean of the given property for every member of the population. For a probability distribution, this would be a sum or integral over every possible value weighted by the probability of that value. It is a universal convention to represent the population mean by the symbol .[1] In the case of a discrete probability distribution, the mean of a discrete random variable x is given by taking the product of each possible value of x and its probability P(x), and then adding all these products together, giving .[2] The sample mean may differ from the population mean, especially for small samples, but the law of large numbers dictates that the larger the size of the sample, the more likely it is that the sample mean will be close to the population mean.[3] As well as statistics, means are often used in geometry and analysis; a wide range of means have been developed for these purposes, which are not much used in statistics. These are listed below.

Meaning of standard deviation In statistics and probability theory, standard deviation (represented by the symbol ) shows how much variation or "dispersion" exists from the average (mean, or expected value). A low standard deviation indicates that the data points tend to be very close to the mean, whereas high standard deviation indicates that the data points are spread out over a large range of values. The standard deviation of a random variable, statistical population, data set, or probability distribution is the square root of its variance. It

is algebraically simpler though practically less robust than the average absolute deviation.[1][2] A useful property of standard deviation is that, unlike variance, it is expressed in the same units as the data. In addition to expressing the variability of a population, standard deviation is commonly used to measure confidence in statistical conclusions. For example, the margin of error in polling data is determined by calculating the expected standard deviation in the results if the same poll were to be conducted multiple times. The reported margin of error is typically about twice the standard deviation the radius of a 95 percent confidence interval. In science, researchers commonly report the standard deviation of experimental data, and only effects that fall far outside the range of standard deviation are considered statistically significant normal random error or variation in the measurements is in this way distinguished from causal variation. Standard deviation is also important in finance, where the standard deviation on the rate of return on an investment is a measure of the volatility of the investment. When only a sample of data from a population is available, the population standard deviation can be estimated by a modified quantity called the sample standard deviation, explained below.