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Statistics Assignment

The document provides statistical analysis of prize money distribution, including calculations for the value of q, estimated mean, median, mode, and standard deviation. The estimated mean is $1.93 million, the median is $1.85 million, and the mode is $1.7 million, indicating a right skew in the data. The standard deviation of the prize money is 0.575.

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1 views4 pages

Statistics Assignment

The document provides statistical analysis of prize money distribution, including calculations for the value of q, estimated mean, median, mode, and standard deviation. The estimated mean is $1.93 million, the median is $1.85 million, and the mode is $1.7 million, indicating a right skew in the data. The standard deviation of the prize money is 0.575.

Uploaded by

princenton.sambo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Prize money (Millions of $) f (frequency)

0,5<1,0 1
1,0<1,5 4
1,5 < 2,0 10
2,0 < 2,5 6
2,5 < 3,0 3
3,0 < 3,5 1
Ʃ 25

i) Show that q =4

𝑓 = 1 + 𝑞 + 10 + 6 + 3 + 1 = 25

𝑞 + 21 = 25

𝑞 = 25 − 21

𝑞=4

The value of q is 4.

ii) Estimated mean of the prize money.

Prize money (Millions of $) f (frequency) x (midpoint of class) fx (Product)


0,5<1,0 1 0,75 0,75
1,0<1,5 4 1,25 5
1,5 < 2,0 10 1,75 17,5
2,0 < 2,5 6 2,25 13,5
2,5 < 3,0 3 2,75 8,25
3,0 < 3,5 1 3,25 3,25
Ʃ 25 48,25

∑ 𝑓𝑥
𝑀𝑒𝑎𝑛 =
𝑛
48.25
𝑀𝑒𝑎𝑛 =
25
𝑀𝑒𝑎𝑛 = $1.93 𝑚𝑖𝑙𝑙𝑖𝑜𝑛

The estimated mean of the prize money is $1.93 million.


iii) The median of the prize money

Prize money (Millions of $) f (frequency) Cumulative frequency


0,5<1,0 1 1
1,0<1,5 4 5
1,5 < 2,0 10 15
2,0 < 2,5 6 21
2,5 < 3,0 3 24
3,0 < 3,5 1 25

𝑛 25
𝐶𝑙𝑎𝑠𝑠 𝑚𝑒𝑑𝑖𝑎𝑛 = = = 12.5
2 2
𝑇ℎ𝑒 𝑐𝑙𝑎𝑠𝑠 𝑚𝑒𝑑𝑖𝑎𝑛 𝑖𝑠 𝑡ℎ𝑒 3𝑟𝑑 𝑐𝑙𝑎𝑠𝑠

𝐹 = 5, 𝑓 = 10, 𝐿 = 1.5, 𝑖 = 0.5


𝑛
−𝐹
𝑀𝑒𝑑𝑖𝑎𝑛 = 𝐿 + 2 𝑖
𝑓

25
−5
𝑀𝑒𝑑𝑖𝑎𝑛 = 1.5 + 2 0.5
10

12.5 − 5
𝑀𝑒𝑑𝑖𝑎𝑛 = 1.5 + 0.5
10
7.5
𝑀𝑒𝑑𝑖𝑎𝑛 = 1.5 + 0.5
10

𝑀𝑒𝑑𝑖𝑎𝑛 = 1.5 + (0.7)0.5

𝑀𝑒𝑑𝑖𝑎𝑛 = 1.5 + 0.35

𝑀𝑒𝑑𝑖𝑎𝑛 = 1.85

The median prize money is $1.85 million.


iv) The mode of the prize money

Prize money (Millions of $) f (frequency)


0,5<1,0 1
1,0<1,5 4
1,5 < 2,0 10
2,0 < 2,5 6
2,5 < 3,0 3
3,0 < 3,5 1

∆
𝑀𝑜𝑑𝑒 = 𝐿 + 𝑖
∆ +∆

𝑖 (𝑐𝑙𝑎𝑠𝑠 𝑤𝑖𝑑𝑡ℎ) = 0.5, ∆ = 10 − 6 = 4 , ∆ = 10 − 4 = 6 , 𝐿 = 1.5

4
𝑀𝑜𝑑𝑒 = 1.5 + × 0.5
4+6
4
𝑀𝑜𝑑𝑒 = 1.5 + × 0.5
10

𝑀𝑜𝑑𝑒 = 1.5 + (0.4) × 0.5

𝑀𝑜𝑑𝑒 = 1.5 + 0.2

𝑀𝑜𝑑𝑒 = $1.7 𝑚𝑖𝑙𝑙𝑖𝑜𝑛

The mode of the prize money is $1.7 million.

v) Comment about the skewness of the data

The distribution of data is skewed to the right because the mode ($1.7 million) is less than
the median ($1.85 million), which is less than the mean ($1.93 million).

vi) Standard deviation of the prize money

2
Prize money (Millions of $) f (frequency) x (midpoint of class) fx (Product) fx (Product)
0,5<1,0 1 0,75 0,75 0,5625
1,0<1,5 4 1,25 5 6,25
1,5 < 2,0 10 1,75 17,5 30,625
2,0 < 2,5 6 2,25 13,5 30,375
2,5 < 3,0 3 2,75 8,25 22,6875
3,0 < 3,5 1 3,25 3,25 10,5625
Ʃ 25 48,25 101,0625

(∑ 𝑓𝑥)
∑ 𝑓𝑥 −
𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒, 𝑆 = 𝑛
𝑛−1
(48.25)
101.0625 −
𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒, 𝑆 = 25
25 − 1

2328.065
101.0625 −
𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒, 𝑆 = 25
24
101.0625 − 93.1225
𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒, 𝑆 =
24
7.94
𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒, 𝑆 =
24
𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒, 𝑆 = 0.33083333

𝑆𝑡𝑎𝑛𝑑𝑎𝑟𝑑 𝑑𝑒𝑣𝑖𝑎𝑡𝑖𝑜𝑛 = √𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒

𝑆𝑡𝑎𝑛𝑑𝑎𝑟𝑑 𝑑𝑒𝑣𝑖𝑎𝑡𝑖𝑜𝑛 = √0.33083333

𝑆𝑡𝑎𝑛𝑑𝑎𝑟𝑑 𝑑𝑒𝑣𝑖𝑎𝑡𝑖𝑜𝑛 = 0.575

The standard deviation of the prize money is 0.575.

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