The marine biologists are interested in the economic value of the abalones and would like to investigate several problems. Firstly, they would like to know the values of every single abalone that has been collected. They have provided you with the market standards used to estimate an abalone value:
Abalone value = [1 + 1/3 (Length – 0.5) + 1/3 (Diameter– 0.4) + 1/3 (Height– 0.4)] * Whole_weight * $0.5.
In addition, If the abalone belongs to Category I, its value will be multiplied by 1.5; If the abalone belongs to Category II, its value will be multiplied by 0.8. Secondly, they would like to know the average value for each gender. Lastly, they would like to know the average value for each water region.
What you need to do: a. Create a new worksheet/tab in the "Firstname_Lastname_ExcData.xlsx".
b. Name your worksheet "Economic Values".
c. Compute the economic value for each abalone.
d. In the same worksheet, use another region to compute the average abalone value for each gender; for each gender find the most expensive and the less expensive abalone. e. In the same work sheet, use another region to compute the average abalone value for each water region; for each water region find the most expensive and the less expensive abalone