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ECO 502 Decision Making

tag 0 Download 1 Pages / 52 Words tag 19-07-2021

Question:

GDP data for some countries across 3 consecutive years are recorded in the following table:

Country

GDP (Sb)

2014

2015

2016

China

834

935

1035

U.S.

582

732

895

Russia

495

631

788

Japan

486

621

799

Germany

339

456

552

Canada

201

335

453

Australia

304

444

565

Turkey

703

819

919

  • Conduct appropriate calculations to show in a tabular format:
  1. Proportion of change from 2014 to 2015 and 2015 to 2016
  1. Share of GDP for the countries across three years

(ii) Use appropriate graphs to depict:

  1. Volume of GDP for the countries across three years;
  2. Share of GDP for the countries across three years;
  3. c) Proportion of change (from 2014 to 2015) and comment on this.

In a computer assembly line, workers take different time to assemble the parts. The amount of time needed (in seconds) for the assembly was recorded for 100 workers.

360

378

78

104

125

216

299

119

154

174

317

244

313

452

210

196

210

388

225

422

468

456

160

171

175

320

235

310

106

222

200

109

281

195

160

213

260

280

242

222

140

101

272

121

223

290

246

213

236

234

195

262

110

211

255

220

310

119

155

95

255

360

222

435

145

289

194

110

124

433

194

237

210

123

210

374

203

380

123

349

382

240

105

135

220

185

275

103

315

111

219

455

280

167

455

215

291

188

223

224

  1. Determine the approximate number of classes and the class width (round-up the width if necessary) you would use to represent the above data Explain your reasons.
  2. Create a frequency distribution of time for 100 workers
  3. Draw a frequency histogram
  4. Calculate the relative frequency and draw relevant histogram
  5. Draw an Ogive
  6. Find the proportion of time taken for assembly between 100-150 seconds; 200-250 seconds. Explain your answer fully.
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