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BUS204: Business Statistics

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  • Course Code: BUS204
  • University: Saylor Academy
  • Country: United States

Question: 

Task 1

Use Excel to produce a Frequency Column Chart (4 marks) and a Relative Frequency Pie- Chart (3 marks) for your sample to show the number and proportion, respectively, of each entertainment type.

Use these graphical summaries to answer the following questions:

(a) How many entertainments in your sample consist of Music, Video and Movies? (1 mark)
(b) Which entertainment type occurs most frequently in your sample? (1 mark)
(c) What proportion of entertainments in your sample consists of eBook? (1 mark)
 

Task 2 

(a) Use Excel to sort your “Income” variable and paste into your MS Word assignment document.

(b) Use the percentile location formula;

LP = (n + 1) P/100 , and the three associated rules (1 mark) to determine:

(i) The 70th percentile. (2 mark)
(ii) The first and third quartiles. (2 mark)

Remember to show all working!

(c) Briefly explain what the 70th percentile that you have determined informs you about the “Income” variable. (1 mark)

(d) Determine the Inter-Quartile Range of “Income” variable and provide a brief explanation of what information this statistic provides about your sample data.
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