statistics
Chapter Self Review page
3 3-4 71
The monthly sales for a sample of HiTec Electronic supply stores were organized into a frequency distribution. The mean of weekly sales was computed to be $ 3,219,360, the median $3,192,000, and the mode $3,176,800.
a. Sketch the sales in the form of a smoothed frequency polygon. Note the location of the mean, median, and mode on the x-axis.
- Mode 3,176,800 < Median 3,192,000 < Mean 3,219,360 Therefore,
b. Is the distribution symmetrical, positively skewed or negatively skewed? Explain your answer.
- It is positively skewed because the mean is the largest of the three measures and the mode is the smallest of the three measures.
Chapter Self Review page
3 3-7 82
The Philly office of PWC hired five (5) accounting trainees this year. Their monthly starting salaries were $4,420 $3,966 $4,310 $3,901 $4,528
Rewrite ; 3,901 3,966 4,310 4,420 4,528
a. Showing the detailed equations and calculations, compute the:
• Population Mean
• Population Median
Median is 4310 because it is the midpoint of the values. There are 5values. Therefore, 3rd value is the median.
• Population Mode
There is no mode because there is no value of the observation that appears most frequently. Every value appears only once.
• Mean Deviation
• Coefficient of the Mean Deviation (it is the Mean Deviation divided by the Mean)
• Population Variance • Population Standard Deviation
• Coefficient of Variation of the Standard Deviation (Standard Deviation divided by the Mean
b. Comment on your findings. What does all of this mean? The population mean is the average of all the values in a statistical population. In this case, the population mean is 4225. The population median is the midpoint of the values, ordered from the smallest to the largest. In this case, the population median is 4310. The population mode is the value that
3 3-4 71
The monthly sales for a sample of HiTec Electronic supply stores were organized into a frequency distribution. The mean of weekly sales was computed to be $ 3,219,360, the median $3,192,000, and the mode $3,176,800.
a. Sketch the sales in the form of a smoothed frequency polygon. Note the location of the mean, median, and mode on the x-axis.
- Mode 3,176,800 < Median 3,192,000 < Mean 3,219,360 Therefore,
b. Is the distribution symmetrical, positively skewed or negatively skewed? Explain your answer.
- It is positively skewed because the mean is the largest of the three measures and the mode is the smallest of the three measures.
Chapter Self Review page
3 3-7 82
The Philly office of PWC hired five (5) accounting trainees this year. Their monthly starting salaries were $4,420 $3,966 $4,310 $3,901 $4,528
Rewrite ; 3,901 3,966 4,310 4,420 4,528
a. Showing the detailed equations and calculations, compute the:
• Population Mean
• Population Median
Median is 4310 because it is the midpoint of the values. There are 5values. Therefore, 3rd value is the median.
• Population Mode
There is no mode because there is no value of the observation that appears most frequently. Every value appears only once.
• Mean Deviation
• Coefficient of the Mean Deviation (it is the Mean Deviation divided by the Mean)
• Population Variance • Population Standard Deviation
• Coefficient of Variation of the Standard Deviation (Standard Deviation divided by the Mean
b. Comment on your findings. What does all of this mean? The population mean is the average of all the values in a statistical population. In this case, the population mean is 4225. The population median is the midpoint of the values, ordered from the smallest to the largest. In this case, the population median is 4310. The population mode is the value that