QM 520 : Ska Brewing Company is a producer of fine craft beer. Complete Solution

QM 520 - Case Study 1: Ska Brewing Company is a producer of fine craft beer. Complete Solution PROBLEM 1 Situation: Ska Brewing Company is a producer of fine craft beers located in Durango, Colorado. With its flagships Ale and Lager, they have enjoyed double-digit growth for more than a decade with no signs of allowing down. Ska was founded in 1995, and through hard work and laser-like focus on brewing great beer continued to grow. In 2012, Ska brewed more than 25,000 barrels of beer (1 barrel = 2 standard kegs = 4,032 ounces) with sales exceeding $6.5 million. Action: Using the attached MS Excel Workbook, use the methods of descriptive statistics analytics to summarize the Ska annual data listed in table 1. Discuss your findings. a. Include a summary of each variable (number of barrels sold and gross annual sales) in the data set. Use histograms, descriptive statistics, and Empirical rule to gain insight and detect data patterns. Your answer should refer to histograms, Empirical rule, and descriptive statistics (mean, median, mode, standard deviation, skewness, and kurtosis) to explain detected data patterns (i.e., increasing/decreasing/stable trends, whether the data is normally distributed based on Empirical rule, …). According to the table1 provided, Ska Brewing Company sells an average of 9165.28 of craft beer per year with a standard deviation of 7,445.27. The barrels minimum is 2,594.7, and the maximum is 6,553,143. The median for the barrels is 6267.8. Regarding the annual Sales in Dollars, the highest-grossing year for Ska was $6,553,144.53, while the lowest-grossing year was only $521,049.87 in sales. In addition, the average annual sale came at $2,289,489.38 with standard deviation of $1,968,257.39. In neither set of data, the numbers are repeated, which means no mode is present. The skew is positive, while this annual data shows that the annual barrels and sales grew significantly as the company grew over the years. For the next two parts of this problem, use the descriptive statistics to summarize the Ska monthly data listed in table;