Exam 5: Displaying and Describing Quantitative Data

Consider the following to answer the question(s) below: A consumer research group investigating the relationship between the price of meat (per kilogram) and the fat content (grams) gathered data that produced the following scatterplot. -The boxplots show monthly sales revenue figures ($ thousands) for a discount office supply company with locations in three different regions in Canada (Atlantic, Central and West). a. Which region has the highest median sales revenue? b. Which region has the lowest median sales revenue? c. Which region has the most variable sales revenue values? Explain.

Consider the following to answer the question(s) below: The table below shows closing share prices for a small sample of companies. -The standard deviation of the closing share prices is

Consider the following to answer the question(s) below: The boxplots below show monthly sales revenue figures ($ thousands) for a discount office supply company with locations in three different regions of Canada (Atlantic, Central and West). -A z-score of -2.7 indicates that a data value is

Consider the following to answer the question(s) below: The table below shows closing share prices for a small sample of companies. -The z-score for the share price of Matsushita Electronic Components is

Consider the following to answer the question(s) below: The boxplots below show monthly sales revenue figures ($ thousands) for a discount office supply company with locations in three different regions of Canada (Atlantic, Central and West). -The asking price for homes in the Winnipeg real estate market has a mean value of $286,455 and a standard deviation of $11,200. The mean and standard deviation in asking price for homes in Moncton are $188,468 and $8,230, respectively. Recently, one home sold in each city where the asking price for each home was $225,000. Based on these data, which of the following statements is true?

Consider the following to answer the question(s) below: Below is a histogram and the five-number summary for salaries (in $) for a sample of marketing managers. -Suppose the marketing manager who was earning $129,420 got a raise and is now earning $140,000. Which one of the following statements is true?

Consider the following to answer the question(s) below: Below is a histogram and the five-number summary for salaries (in $) for a sample of marketing managers. -Do the data contain any outliers as determined by the five-number summary?

Consider the following to answer the question(s) below: A consumer research group investigating the relationship between the price of meat (per kilogram) and the fat content (grams) gathered data that produced the following scatterplot. -Below is the five-number summary of the hourly wages ($) for sales managers. Suppose there had been an error and that the lowest hourly wage for sales managers was $18.50 instead of $20.94. Indicate how this change would affect the following summary statistics (increase, decrease, or stay about the same). a. Mean b. Median c. Range d. IQR e. Standard deviation

Consider the following to answer the question(s) below: A consumer research group investigating the relationship between the price of meat (per kilogram) and the fat content (grams) gathered data that produced the following scatterplot. -The table below shows closing share prices (on the first trading day of August, 2007) for a small sample of companies. a. Calculate the mean. b. Calculate the standard deviation. c. Standardize the share price for Matsushita Electronic Components (find the z-score). Interpret its meaning.

Consider the following to answer the question(s) below: A consumer research group investigating the relationship between the price of meat (per kilogram) and the fat content (grams) gathered data that produced the following scatterplot. -The table below shows data on total assets ($ million) for a sample of bank branches. Prepare a stem-and-leaf display. Comment on the shape of the distribution.

Consider the following to answer the question(s) below: A consumer research group investigating the relationship between the price of meat (per kilogram) and the fat content (grams) gathered data that produced the following scatterplot. -Below is the five-number summary of salaries (in $) for a sample of marketing managers. Suppose the marketing manager who was earning $129,420 got a raise and is now earning $140,000. Indicate how this change would affect the following summary statistics (increase, decrease, or stay about the same). a. Mean b. Median c. Range d. IQR e. Standard deviation

Consider the following to answer the question(s) below: A consumer research group investigating the relationship between the price of meat (per kilogram) and the fat content (grams) gathered data that produced the following scatterplot. -Below is the five-number summary of the hourly wages ($) for advertising / promotion managers. a. Would you expect the mean salary for this sample of marketing managers to be higher or lower than the median? Explain. b. Which would be a more appropriate measure of central tendency for these data, the mean or median? Explain. c. Calculate the range. d. Calculate the IQR.