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Statistics for Business

This group assignment requires students to demonstrate their understanding of business research principles and statistical analysis techniques taught in the course.

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Added on  2023-04-04

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This document provides study material for the course Statistics for Business. It includes solved assignments, essays, dissertations, and more. The document also includes information about the course code, course name, and college/university.

Statistics for Business

This group assignment requires students to demonstrate their understanding of business research principles and statistical analysis techniques taught in the course.

   Added on 2023-04-04

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1
STATISTICS FOR BUSINESS
by Student’s Name
Code + Name of Course
Professor’s Name
University
City(state)
Date
Statistics for Business_1
2
1.a)
bins Frequency
Relative
frequency
cumulative
frequency
cumulative
relative
frequency
Class
midpoint
300 6 10.00% 6 10.00% 150
600 18 30.00% 24 40.00% 450
900 9 15.00% 33 55.00% 750
1200 11 18.33% 44 73.33% 1050
1500 4 6.67% 48 80.00% 1350
1800 5 8.33% 53 88.33% 1650
2100 2 3.33% 55 91.67% 1950
2400 1 1.67% 56 93.33% 2250
2700 1 1.67% 57 95.00% 2550
3000 2 3.33% 59 98.33% 2850
3300 1 1.67% 60 100.00% 3150
1.b)
0
2
4
6
8
10
12
14
16
18
20
300
600
900
1200
1500
1800
2100
2400
2700
3000
3300
More
Frequency
Bin
Histogram
Frequency
1.c)
Mean 976.5667
Median 797.5
Mode 401
Statistics for Business_2
3
2.a)
The data set is a sample because it’s only observed during a short period of time, that is a
few number of weeks that the supermarket has and will be in operation. A population would
otherwise be observed during the entire time the supermarket will be in operation.
2.b)
Standard deviation, δ= √ ∑ ( x−μ ) 2
n−1
weekly
attendance
(X) x-μ (x-μ)^2
472 472-484.57=-12.57 158.0049
413 413-484.57=-71.57 5122.265
503 503-484.57=18.43 339.6649
612 612-484.57=127.43 16238.4
399 399-484.57=-85.57 7322.225
538 538-484.57=53.43 2854.765
455 455-484.57=-29.57 874.3849
sum 32909.71
Mean, μ= 3392
7 =484.57
δ=
√ 32909.71
(7−1 )
δ = √ 32909.71
6
δ=√5484.951667
δ=74.06
2.c)
Statistics for Business_3

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