Basic Statistics for Business and Economics.pdf

CHAPTER 2DESCRIBING DATA: FREQUENCY DISTRIBUTIONS AND GRAPHIC PRESENTATION 1. Maxwell Heating & Air Conditioning far exceeds the other corporations in sales. Mancell Electric & Plumbing and Mizelle Roofing & Sheet Metal are the two corporations with the least amount of fourth quarter sales. Mizelle Maxwell Mancell Long Bay J & R Hoden Maxwell has the highest sales, and Mizelle the lowest. (LO2-2) 2. Three classes are needed, one for each player. (LO2-1) 3. There are four classes: winter, spring, summer, and fall. The relative frequencies are 0.1, 0.3, 0.4, and 0.2, respectively. (LO2-1) 4. a. (LO2-2) 3 b. Aboriginal Identity Number Relative Frequency Percent First Nations 851 560 0.608 60.8 Métis 451 795 0.323 32.3 Inuit 59 445 0.042 4.2 Other 26 475 0.019 1.9 Multiple identities 11 415 0.008 0.8 Aboriginal Identity Number Percent First Nations .8 Métis .3 Inuit 59 445 4.2 Other 26 475 1.9 Multiple identities 11 415 0.8 (LO2-1) c. (LO2-3) Chapter 2 4 5. a. (LO2-2) b. Type Number Relative Frequencies Bright white 130 0.10 Metallic black 104 0.08 Magnetic lime 325 0.25 Tangerine orange 455 0.35 Fusion red 286 0.22 Total 1300 1.00 (LO2-1) Chart of Frequency vs Color 500 400 300 200 100 0 W hite Black Lim e Color Orange Red Frequency 5 c. (LO2-3) 6. Student loan amounts for 2014. Susan Chan’s loan is the largest. 7. 2 5  32, 2 6  64; therefore 6 classes (LO2-4) (LO2-2) 8. 2 5 = 32, 2 6 = 64 suggests 6 classes. i  $29  $0  4.47 6 Use interval of 5. (LO2-4) 9. 2 7 = 128, 2 8 = 256 suggests 8 classes i  567  235  41.5 Use interval of 42 or 45. (LO2-4) 8 10. a. 2 5 = 32, 26 = 64 suggests 6 classes. b. i  129  42  14 6 Use interval of 15 and start first class at 40. (LO2-4) 11. a. 2 4 =16 suggests 5 classes b. (31-25)/5 = 6/5 = 1.2 Use interval of 1.5 c. 24 Pie Chart of Frequency vs Color White 10.0% Red 22.0% Black 8.0% Lime 25.0% Orange 35.0% Chapter 2 6 d. Units f Relative frequency 24 to under 25.5 2 0.125 25.5 to under 27 4 0.250 27 to under28.5 8 0.500 28.5 to under 30 0 0.000 30 to under 31.5 2 0.125 Total 16 1.000 e. The largest concentration is in the 27 up to 28.5 class (8). (LO2-4&5) 12. a. 2 4 = 16, 25 = 32, suggest 5 classes b. 47/5 = 9.4 Use interval of 10. c. 50 d. f Relative frequency 50 to under 60 4 0.20 60 to under 70 5 0.25 70 to under 80 6 0.30 80 to under 90 2 0.10 90 to under 100 3 0.15 Total 20 1.00 e. The fewest number is about 50, the highest about 100. The greatest concentration is in classes 60 up to 70 and 70 up to 80. (LO2-4&5)