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HI6007: Statistics For Business Decisions

   

Added on  2023-06-12

7 Pages944 Words488 Views
Statistics and Probability
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Running Head: HI6007: STATISTICS FOR BUSINESS DECISIONS
HI6007: Statistics For Business Decisions
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HI6007: Statistics For Business Decisions_1

1HI6007: STATISTICS FOR BUSINESS DECISIONS
Table of Contents
Answer 1..........................................................................................................................................2
Part A...........................................................................................................................................2
Part B...........................................................................................................................................2
Part C...........................................................................................................................................3
Answer 2..........................................................................................................................................3
Part A...........................................................................................................................................3
Part B...........................................................................................................................................4
Part C...........................................................................................................................................4
Answer 3..........................................................................................................................................4
Answer 4..........................................................................................................................................5
Part A...........................................................................................................................................5
Part B...........................................................................................................................................5
Part C...........................................................................................................................................5
Part D...........................................................................................................................................6
Part E...........................................................................................................................................6
HI6007: Statistics For Business Decisions_2

2HI6007: STATISTICS FOR BUSINESS DECISIONS
Answer 1
Part A
The following table shows the frequency, relative frequency and percent frequency of the
furniture orders.
Furniture Order ($) Frequency Relative Frequency Percent Frequency
100 - 150 3 0.06 6%
150 - 200 15 0.3 30%
200 - 250 14 0.28 28%
250 - 300 6 0.12 12%
300 - 350 4 0.08 8%
350 - 400 3 0.06 6%
400 - 450 3 0.06 6%
450 - 500 2 0.04 4%
Grand Total 50 1 100%
Part B
The histogram in the figure below shows the distribution of the values of furniture orders.
It can be seen from the shape of the histogram that the data is positively skewed.
HI6007: Statistics For Business Decisions_3

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