Discuss the following:
Q1: The following frequency table reports the number of employees in company using frequent flier miles (in thousands) during the first half of 2008.
Table. Frequent Flyer Data
|
Frequent Flier Miles (000)
|
Number of Employees
|
|
0 up to 5
|
10
|
|
5 up to 10
|
22
|
|
10 up to 15
|
55
|
|
15 up to 20
|
821
|
|
20 up to 25
|
8
|
- How many employees were evaluated?
- What is the midpoint of the 4th class?
- Construct a histogram
- Interpret the outcome
Q2: Suppose you are in search for a minimum-wage job to help through school. After searching for a while, you found several jobs in your area that pay the hourly wages shown in Table.
(a)Perform numerical descriptive statistics and construct histogram, relative frequency diagram, cumulative frequency diagram, dot plot, steam and leaf plot, and a box plot for the hourly wage data.
(b) Interpret the results
Table. Hourly Wage Data ($)
|
Company
|
Hourly Wages ($)
|
Company
|
Hourly Wages ($)
|
|
1
|
9.3
|
16
|
7
|
|
2
|
8.6
|
17
|
9.7
|
|
3
|
7.5
|
18
|
7.4
|
|
4
|
8.8
|
19
|
8.4
|
|
5
|
8.9
|
20
|
10.8
|
|
6
|
7.4
|
21
|
8.1
|
|
7
|
7.8
|
22
|
10.9
|
|
8
|
8.2
|
23
|
9.2
|
|
9
|
10.3
|
24
|
10.8
|
|
10
|
10
|
25
|
11.5
|
|
11
|
11.2
|
26
|
8.2
|
|
12
|
10.1
|
27
|
6.3
|
|
13
|
8.9
|
28
|
9.3
|
|
14
|
7.1
|
29
|
10.7
|
|
15
|
8
|
30
|
5.4
|
|
Q3: An auto rental company wanted to reach its maximum rental capacity of 10,000 cars during the weekends. One option was to reduce the weekend rate to encourage more people to rent. In order to determine what rate the company should use, data of a sample of historical weekend daily rental rates and the corresponding demand was collected. This data is shown in Table.
- Describe the relationship between the weekend daily rate and the rental demand
- What is the weekend daily rental rate that you think the company should use to reach its maximum rental capacity?
Table. Car Rental Rate and Corresponding Demand
|
Weekend Daily Rates ($)
|
Number of Cars Rented
|
|
40
|
5000
|
|
30
|
5800
|
|
25
|
7100
|
|
16
|
9300
|
|
42
|
4800
|
|
18
|
7100
|
|
32
|
5700
|
|
26
|
6100
|
|
44
|
3600
|
|
16
|
7800
|
|
29
|
7000
|
|
16
|
9700
|
|
18
|
9990
|
|
38
|
5060
|
|
24
|
7300
|
|
31
|
5500
|
|
44
|
6900
|
|
17
|
6200
|
|
20
|
6000
|
|
40
|
5800
|
|
21
|
7800
|
|
16
|
8900
|
|
42
|
5320
|
|
20
|
8400
|
|
28
|
5900
|
|
18
|
8500
|
|
35
|
4298
|