bus105 Business Statistics - Computing Assignment (bus105)
Added on 2020-02-19
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The relation can be represented as: Annual Contribution = 0.134*Income - 1359 Part B When the income is $200,000 Part C 5 Part D 5 Part i 5 Part ii 5 Part iii 6 Part iv 6 Part E 6 Part i 6 Part iii 6 Part iv 6 Part ii 6 Part iii 6 Part iv 6 Section 3 7 Part A 7 Part B 7 Part C 7 Part D 7 Part i 7 Part ii 8 Part iv 8 Part E 8 Part i 8 Part ii 8 Part iii
3STATISTICSSection 1Part AFigure 1: Relation of Annual Contribution to IncomeThe above scatter plot represents the relation of annual contribution to income. From the scatter plot it can be seen that the annual contribution increases with increase in income. The relation can be represented as: Annual Contribution = 0.134*Income - 1359 Part BWhen the income is $200,000 the annual contribution would be: Annual Contribution = 0.134*200000 – 1359 = $25,441Part CThe average of the estimate is $27,000. The standard deviation is $2,100. The z-score is given by: z=value−meanstandarddeviation=x−μσ=25441−270002100=−15592100=−0.74Thus the z-score is -0.74Part DThe P(Z<-0.74) = 0.22965Part EExpected Rank = 0.22965*10,000 = 2296.5Hence, expected rank = 2297
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