- Answer ALL parts of this question.
You have been given the following data on innovation in the mobile phone industry. The data show the proportion of each company’s sales arising from innovation, where innovation is defined as the introduction of a new product at any time during the past 2 years.
Table 1 Innovation in the Mobile Phone Industry
| Company | Proportion of Sales Revenue from New Products % |
| 1 | 27.4 |
| 2 | 15.7 |
| 3 | 85.34 |
| 4 | 94.2 |
| 5 | 60.0 |
| 6 | 57.5 |
| 7 | 13.4 |
| 8 | 8.0 |
| 9 | 0.0 |
| 10 | 33.6 |
| 11 | 15.7 |
| 12 | 100.0 |
- Calculate the mean, mode, median, minimum, maximum, range, variance and standard deviation and present them in a single table.
- Based on this sample of 12 companies and using the measures derived in (a) write a short report for the government on innovation in the mobile phone market commenting on the average and median proportion of sales from new products, the most and least innovative companies, variance in the share of sales from new products and the impact of any outliers. Discuss the strengths and weakness of the different measures.
