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Tutorial 4

This document provides instructions for calculating various summary statistics, including the median, mean, variance, mode, standard deviation, and quartile deviation, for different data sets relating to sales revenue, stock prices, chocolate bar sales, and student test times. Specifically, it asks the reader to: [1] Find the median, mean, and estimate annual revenue for a shop's weekly sales data; [2] Determine summary statistics for stock price changes and chocolate bar sales; and [3] Interpret the mean, median, and mode values for student test times and determine whether standard deviation or coefficient of variation is more useful for comparing variation.

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Keaobaka Tlagae
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25 views

Tutorial 4

This document provides instructions for calculating various summary statistics, including the median, mean, variance, mode, standard deviation, and quartile deviation, for different data sets relating to sales revenue, stock prices, chocolate bar sales, and student test times. Specifically, it asks the reader to: [1] Find the median, mean, and estimate annual revenue for a shop's weekly sales data; [2] Determine summary statistics for stock price changes and chocolate bar sales; and [3] Interpret the mean, median, and mode values for student test times and determine whether standard deviation or coefficient of variation is more useful for comparing variation.

Uploaded by

Keaobaka Tlagae
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Tutorial 4

Summary Measures

To find measures of location

1. The weekly sales revenue for a shop is given below for each of the last 20 weeks:

Sales, £/week
4325 4130 7400 6150 7925 6075 7125 6935 6395 7740
7035 6600 6435 7120 7130 7400 5615 7405 4170 7160

a) Find the median and calculate the mean for this data set.
b) Calculate the variance for the data set
c) Estimate the annual revenue of the shop.

2. Refer to Question 1 of Tutorial 2.


Determine the mean, median and mode values for the number of shares showing an
increase in price in a day.

1 3 4 2 1 1 3 4 5 3 2 1
0 1 2 3 4 4 2 1 2 2 1 1
0 2 2 2 3 3 1 1 0 2 2 2
1 5 4 3 2 1 0 0 0 1 3 1
3 2 1 1 0 1 1 2 2 3 4 0

3. Refer to Question 2 of Tutorial 2.

258 229 227 255 249 238 296 246 262 303
244 216 276 261 281 254 304 269 258 253
238 294 272 233 260 250 255 242 256 241
266 246 274 268 237 274 287 279 281 219
260 274 235 286 247 259 251 269 283 259
227 247

i) Determine the mean and median for the weekly sales volume of Choco bars.
ii) Determine the standard deviation of the weekly sales volume of Choco bars.
iii) Determine the mean quartile deviation of the weekly sales volume of Choco
bars.

4. The following data are the times in minutes that 13 students took to do one question
on a Self Assessment Test (SAT).
4 3 5 4 3 4 2 7 4 3 5 6 2

a) Calculate the mean, median and mode times.

b) In the context of the question, explain the information given by each of the
median and mean.

c) What do the values of the mean, median and mode tell you about the shape of
the distribution of times to complete the question?

d) Suppose we have the corresponding times for all of the other questions in the
SAT. Would the standard deviation or the coefficient of variation be the more
useful measure to compare the variation in the values of the time taken to do a
question? Explain your choice. (this question requires you to calculate the mean
and the standard deviation

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