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Explain what a store owner might learn by doing a stem-and-leaf plot of the prices of items in her store?
Wiki User
∙ 11y ago
The most important thing that the store owner should learn is that a stem and leaf plot is a huge waste of time in her circumstances. She ought to learn that using some fancy statistical technique may not always be appropriate. There are other methods that are far more useful.
A stem-and-leaf plot will tell her the range of prices of the goods that she sells, along with median and percentiles, etc. but what use is that information to a storekeeper? They may want to know what lines are selling well, which ones are not moving at all. Even more important, they may want to know how the high-profit-margin lines are doing.
Alternatively, she may wish to compare her prices with her competition, but that is useful only if she can compare prices of the same (or similar) goods. A stem-and-leaf plot does not identify the individual product lines and so she would not be able to undertake such a comparison.
All in all, I cannot see a single reason for a stem-and-leaf plot - other than to give her school-age child something to do!
Wiki User
∙ 11y ago
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