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Assignment 2

This document contains 3 problems related to calculating statistics such as mean, median, mode, variance, and standard deviation from data sets. Problem 1 asks to calculate these statistics for a population of 4 observations. Problem 2 provides a sample of car rental rates and asks to calculate the mean, median, mode, sample variance, and sample standard deviation. Problem 3 provides a sample of 70 apartment rental prices and asks to calculate the mean, median, mode, and verify the sample variance and standard deviation. Formulas for population variance, sample variance, population standard deviation, and sample standard deviation are also provided.

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Maaz Satti
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© © All Rights Reserved
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Download as PPTX, PDF, TXT or read online on Scribd
44 views

Assignment 2

This document contains 3 problems related to calculating statistics such as mean, median, mode, variance, and standard deviation from data sets. Problem 1 asks to calculate these statistics for a population of 4 observations. Problem 2 provides a sample of car rental rates and asks to calculate the mean, median, mode, sample variance, and sample standard deviation. Problem 3 provides a sample of 70 apartment rental prices and asks to calculate the mean, median, mode, and verify the sample variance and standard deviation. Formulas for population variance, sample variance, population standard deviation, and sample standard deviation are also provided.

Uploaded by

Maaz Satti
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Assignment - 2

IS 310 – Business Statistics Slide


1
Problem 1 : A population consists of four observations : {1, 3, 5, 7}. Find, Mean
“μ”, Median, Mode, Population variance “σ2” , sample variance “S 2” and
population standard deviation “σ” and Sample Standard deviation “S” ?

Problem 2 : Sample of Car rental rates in $ is: 43,35,34,58,30,30,36


Find Mean, Median, Mode, sample Variance and sample Standard Deviation.

Problem 3 : Seventy efficiency apartments were randomly sampled.


Monthly rent prices for these apartments are listed as follows. Find Mean,
Median, Mode. Also Prove sample Variance=2996.16 & sample Standard
deviation = 54.74
 Apartment Rent Sample Data
425 430 430 435 435 435 435 435 440 440
440 440 440 445 445 445 445 445 450 450
450 450 450 450 450 460 460 460 465 465
465 470 470 472 475 475 475 480 480 480
480 485 490 490 490 500 500 500 500 510
510 515 525 525 525 535 549 550 570 570
575 575 580 590 600 600 600 600 615 615
IS 310 – Business Statistics Slide
2
Formulae

Variance
2
2  ( xi  x )
2
 ( x   )
s  2  i
n 1 N

For sample For population

Standard deviation

s s 2
 2

for a sample for a population


IS 310 – Business Statistics Slide
3

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