An Australian manufacturing companywhich is a market leader in the sanitary product sector in the Australasian market with operating headquarters in Sydney is keen to develop new products so that company can expand into Australian and Asian markets. Research and Development (R&D) department of the company has prepared a proposal to work on new product line of fragrance. Assume you work as an Analyst for this company and you have been asked to study the market for fragrances. You have been asked to study the characteristics of currently available fragrances so the company will be in a better position to price its proposed new product. You have collected data for 95 products on the market. The data is on an excel file named "FRAGRANCE". First Column: PRICE (that is Price of the product in Australian dollars for100 mlof a fragrance). Second Column:GENDER (1 for Female product and 2 for Male product). Third Column:TYPE(Type of fragrance: 1 for perfume and 2 for cologne). Forth Column:MADE (the country in which the fragrance is produced: 1 made in France, 2 made in USA, 3 made in other countries). Fifth Column: INTEN (Intensity or strength of the product: 1 for strong, 2 for medium and 3 for mild). See next pages for more information. Questions: Part 1) Provide a description of the data (for all the 95 products together) and show what Mean, Standard Deviation, Coefficient of Variation mean in this context.What conclusions can you draw from these measures? Part 2)Calculate the Mean, Median, Mode, Standard Deviation, Coefficient of Variation, 95% confidence interval for means for: o Prices for gender - male and female. o Prices for fragrance - perfume and cologne. o Prices for intensity - strong, medium and mild. o Prices for different countries – France, USA and other. What conclusions can you draw from these analyses? Also comment on the shape of distributions. Part 3)You are also required to answer the following questions (For one-sided tests, use the question of interest as the alternative hypothesis): 1. Determine if average prices for female products exceed average prices for male products. 2. Determine if there is evidence to suggest that the variance of prices for male products is equal to those of female products. 3. Determine if average prices for perfume exceeds the average price of cologne. 4. Determine if there is evidence to suggest that the variance of prices for perfume and cologne are equals. 5. Determine if there is a difference in the prices for intensity. 6. Determine if there is a difference for the prices for different countries.