Download BUSINESS STATISTICS ASSIGNMENT (Total 40 Points)

BUSINESS STATISTICS ASSIGNMENT (Total 40 Points)
Question 1: (10 Points)
Find the mean, median and mode of the following:
Presto Printing Company sales for the month of February
(NOTE: The Company is closed on Sundays.)
DATE
February 2:
February 3:
February 4:
February 5:
February 6:
February 7:
February 9:
February 10:
February 11:
February 12:
February 13:
February 14:
February 16:
February 17:
February 18:
February 20:
February 21:
February 23:
February 24:
February 25:
February 26:
February 27:
February 28:
TOTAL
SALES ($)
23 DAYS
4,694
5,954
3,309
3,106
7,124
2,149
3,123
4,128
3,198
2,198
7,287
1,123
4,598
3,987
3,099
5,980
3,209
6,531
3,098
4,598
4,873
9,876
5,878
103,120
MEAN= $ 4,483. This is obtained by dividing the total sales of the month, which is $103120 by
the number of days, which were 23 working days. Hence $103,120/23 results to $4,483
MEDIAN = $4,128. This is the number at the middle. Total number of working days was 23.
The middle number fell on position 12 after rearranging in ascending order was $4,128
MODE = $4598. This is the most common number, and it happened to be $4, 598, recorded on
February 15 and 25
Question 2: (20 Points)
a) Set up a frequency distribution table and calculate the relative frequency for the
following quiz scores that Matt achieved in his Algebra course:
Matt’s Quiz Scores: 85, 88, 92, 79, 100, 78, 61, 60, 79, 99, 100, 69, 98, 85, 92, 79, 81,
85, 100, and 100.
Use the following frequency intervals:
Mean: µ =
∑ 𝑓𝑥
𝑁
=
1680
20
= 84
Variance = 119 calculated using the formula:
where σ is the
population variance, m is the midpoint of a class, in this case its x, µ is the mean and f is the
frequency.
The standard deviation is obtained by taking the positive square root of the variance
Standard Deviation = 10.909 calculated using the formula: σ = √𝜎 2
MARKS
60-70
70-80
80-90
90-100
Total
Mid
point (X)
65
75
85
95
Frequency(f)
Freq*X
(X-mean)
(X-mean)2 f*(X-mean)2
3
4
5
8
195
300
425
760
-19
-9
1
11
361
81
1
121
1083
324
5
968
20
1680
-
-
2380
Question 3: (10 Points)
Patrick’s Average Sales: Is it better for Patrick to earn 7.5% based on his average daily sales or a
flat $4,000 for the week?
Earning 7.5% based on average daily sales;
Monday $4,099
$3382.43
Tuesday $6,900
$517.50
Wednesday $0 $0
Thursday $10,000
$750
Friday $9,007
$675.53
Saturday $9,766
$732.45
Sunday $0
$0
Total earnings:
$3057.91 which is approximately $3058
It is better for Patrick to earn $4,000 for the week than 7.5% on his average daily sales.
REFENCES
1. Numbers to Words’ Batch Converter (Indian Numbering System ... (n.d.).
Retrieved from http://knowpapa.com/num2words/
2. 5.6 Mean, Variance and Standard Deviation for Grouped Data. (n.d.). Retrieved from
http://www.angelfire.com/blues/michaelyang/ive/dms/chapter_05/5_6_StaDev.html