Question

In: Accounting

IBL Company manager asked his statistic team to give to the production department the data on...

IBL Company manager asked his statistic team to give to the production department the data on the number of phones manufactured over the 20 months.. The data collected are as follows:


Months
# of phones produced
1 2045
2 1566
3 9075
4 4563
5 5052
6 3465
7 2542
8 4134
9 3567
10 5163
11 4563
12 2453
13 462
14 2772
15 4263
16 5052
17 2846
18 5052
19 4130
20 5062




REQUIRED

PART A
1. Calculate the following using the data provided on the table:
a. the mean
b. median
c. mode
2. Find the Quartile 1 , Quartile 3 and inter-quartile of the phoines produced
3. Why is the inter-quartile calculated?
4. Describe the distribution of the data if Mean=Median = mode
5. How do we call data when Mode <Median <Mean and show with a diagram how such distribution looks?

Solutions

Expert Solution

Question 1

(A) Calculation of Mean,Median and Mode:

Mean = Sum of Observations / Number of observations

= {2045+1566+9075+4563+5052+3465+2542+4134+3567+5163+4563+2453+462+2772+4263+5052+2846+5052+4130+5062} / 20

= 77827/ 20

= 3891.35

Median :

We need to re arrange the data in ascending order which would be as follows:

462,1566,2045,2453,2542,2772,2846,3465,3567,4130,4134,4263,4563,4563,5052,5052,5052,5062,5163,9075

Since the number of observations (n) is an even number,

Median =  (n/2)th term + (n/2 +1)th term / 2

= (20/2/) th term + (20/2 +1)th term /2

= 10th gterm + 11 th term/ 2

= (4130+4134) /2

= 4132

Mode: It is the most repeated value in the data given ; Therefore Mode is  5052

Question 2

Calculation of Quartile 1 , Quartile 3 and Inter Quartile Range

We need to re arrange the data in ascending order which would be as follows:

462,1566,2045,2453,2542,2772,2846,3465,3567,4130,4134,4263,4563,4563,5052,5052,5052,5062,5163,9075

Quartile 1 = (n+1)/4 = 5.25th term

which means Q1 lies between 5th and 6 th term.

Hence we can take an average to find out the position of Q1 which is (2542+2772)/2 = 2657

Similarly Quartile 3 = 3* (n+1)/4 = 3* 5.25 = 15.75 th term

which means Q3 lies between15th and16 th term.

Hence we can take an average to find out the position of Q3 which is (5052+5052)/2= 5052

Inter Quartile Range = Q3 - Q1 = 5052-2657 = 2395

Question 3

Inter Quartile Range is calculated to find out where the most numbernof phonesmanufactured are placed in the given series of data. It basically represents the middle 50% percent of the data that ranges from 25th percentile to 75 th percentile.

If the Inter Quartile range is high , it means the data is more dispersed from the mean whereas when the Inter Quartile range is low, it means that the data points are more gathered towards the mean

Question 4

When the mean = Median = Mode, it is termed as symmetrical distribution of data. Normal distribution can be referred to as an example of Symmetric distribution. It is represented by a bell shaped curve where the distance of one side of the curve is exactly the same as the other side. The curve can be explained in the attached image

Question 5

When the values of mean, median and mode are not equal, it is termed as a skewed distribution. In a skewed distribution where Mode <Median <Mean , it is referred to as positively skewed distribution where we find that the right side of the curve is longer than the left side of the curve where the mean stands to the extreme right of the curve as it is of the greatest value. The curve can be explained in the attached image


Related Solutions

Frederick is the manager of a company that produces toasters. He has instructed his production department...
Frederick is the manager of a company that produces toasters. He has instructed his production department to replace a steel handle shaft with a plastic shaft. This will save the company $1 per toaster. Since making this change, the toasters are being returned in great quantities because of handle breakage. Frederick tries to hide his poor decision. He instructs the accountant to ignore the returned items and put them back into inventory so they can be resold. Manufacturing was told...
A quality manager asked his team to implement p control chart for a process that was...
A quality manager asked his team to implement p control chart for a process that was recently introduced. The team collected samples of size n = 100 parts hourly over a period of 30 hours and determined the proportion of nonconforming parts for each sample. The mean proportion of nonconforming parts for 30 samples turned out to be 0.025. Determine the upper and lower control limits for the p chart. Discuss how you will use the p Chart and what...
A production manager wants to assess the reactions of the blue-collar workers in his department (including...
A production manager wants to assess the reactions of the blue-collar workers in his department (including foremen) to the introduction of computer-integrated manufacturing (CIM) systems. He is particularly interested in finding out how they perceive the effects of CIM on: 1. their future as employees 2. the additional training that they will have to receive 3. future job advancement
A company is about to begin production of a new product. The manager of the department...
A company is about to begin production of a new product. The manager of the department that will produce one of the components for the product wants to know how often the machine used to produce the item will be available for other work. The machine will produce the item at a rate of 200 units a day. Eighty units will be used daily in assembling the final product. Assembly will take place five days a week, 50 weeks a...
The smelting department of Company X has following production and cost data for September: Production: No...
The smelting department of Company X has following production and cost data for September: Production: No beginning work in process; units started into production 1,000 units; units transferred out to next department 900 units; ending work in process 100 units that are 100% complete as to materials and 4z% complete as to conversion costs. Manufacturing costs: In current period, TL50,x00 worth of materials, TL25,y00 worth of labor and TL3t,000 worth of manufacturing overhead costs are incurred. (a) (15 points) Assuming...
The Sanding Department of Kayden Company has the following production and cost data for November. Production                 ...
The Sanding Department of Kayden Company has the following production and cost data for November. Production                                                                  Costs                           1. Started and completed 9,000 units.                        Beginning work in process     $    -0- 2. Started 3,000 units that are 75%                            Materials                                 56,250      completed at November 30.                                   Labor                                       123,750                                                                                     Manufacturing Overhead        45,000 Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Kayden Company uses the FIFO method to compute equivalent units. (a)        Determine...
The Cutting Department of Cassel Company has the following production and cost data for July. Production...
The Cutting Department of Cassel Company has the following production and cost data for July. Production Costs 1. Transferred out 12,000 units. Beginning work in process $0 2. Started 3,000 units that are 60% Materials 45,000 complete as to conversion Labor 16,200 costs and 100% complete as Manufacturing overhead 18,300 to materials at July 31. Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Determine the equivalent units of production for (1)...
You are a member in a project team and the project manager asked you to purchase...
You are a member in a project team and the project manager asked you to purchase 4 laptops with certain specifications (Lenovo ThinkPad T series, Core i7, 2 Tera Storage, 32 GB Ram, 15.6" size, NVIDIA® graphics). How do you set your procurement management to do that?
you are a member in a project team and the project manager asked you to purchase...
you are a member in a project team and the project manager asked you to purchase 4 laptops with certain specifications (lenovo thinkpad T series,core i7,2 tera storage ,32 GB Ram ,15.6 size , NVIDIA graphics ) how do you set your procurement management to do that?
Assume you are a new manager in the Financial Analysis department and are orienting a team...
Assume you are a new manager in the Financial Analysis department and are orienting a team of new college graduates to the world of capital budgeting. In your initial post, explain the uses of the common capital budgeting tools to them. Explain what they are, and how you use them in your daily tasks. Make sure to explain any financial terminology
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT