In: Economics
The following table provides the project annual budget, total number of projects, and total number of people working on the projects for City of Killingcovid annually:
Year |
Annual Budget (in millions) |
Number of Projects |
Number of People Working on the Projects |
1997 |
9.93 |
2 |
6 |
1998 |
7.34 |
8 |
47 |
1999 |
6.82 |
4 |
134 |
2000 |
7 |
2 |
291 |
2001 |
7.31 |
7 |
279 |
2002 |
7.86 |
6 |
82 |
2003 |
8.44 |
4 |
65 |
2004 |
7.61 |
5 |
34 |
2005 |
7.8 |
1 |
14 |
2006 |
8.6 |
4 |
249 |
2007 |
8.25 |
2 |
174 |
2008 |
8.7 |
3 |
346 |
2009 |
10.89 |
2 |
3 |
2010 |
10.53 |
1 |
8 |
2011 |
11.77 |
2 |
13 |
2012 |
11.44 |
4 |
24 |
2013 |
10.95 |
6 |
534 |
2014 |
11.12 |
2 |
6 |
2015 |
10.73 |
2 |
28 |
2016 |
11.39 |
1 |
18 |
2017 |
11.3 |
3 |
25 |
2018 |
11.27 |
2 |
54 |
For A to F, use the data between Yr 2006 and Yr 2015 to calculate the following:
A. The mean of the
Number of People Working on the Project.
B. The median of the Budget.
C. The range of Budget.
D. The variance (3 significant figures) of Number of
Projects.
E. The standard deviation (nearest integer) of Number of People
Working on the Project.
F. The 20% trimmed mean of Number of Projects.
G. Draw a dot plot
comparing the Number of People Working on the Project from Yr 1997
to Yr 2006 and those from Yr 2009 to Yr 2018.
H. Using the data for Annual Budget from Yr 2001 to Yr 2017, draw a double stem leaf plot, then calculate the relative frequency.
Sr No. | Year | No. of People Working on Projects | ||
t | 2006 | 249 | ||
2 | 2007 | 174 | ||
3 | 2008 | 346 | ||
4 | 2009 | 3 | ||
5 | 2010 | 8 | ||
6 | 2011 | 13 | ||
7 | 2012 | 24 | ||
8 | 2013 | 534 | ||
9 | 2014 | 6 | ||
10 | 2015 | 28 | ||
Total | 1385 |
Mean = Total no. of people Working on Projects / Total Projects |
Total Projects =28 |
Mean = 1385/28 = 49.46 |
Calculation of Median
Sorting Data Ascending Order
Total number of observations is 10 which is even number
Year | Annual Budget | |
2007 | 8.25 | |
2006 | 8.6 | |
2008 | 8.7 | |
2010 | 10.53 | |
2015 | 10.73 | |
2009 | 10.89 | |
2013 | 10.95 | |
2014 | 11.12 | |
2012 | 11.44 | |
2011 | 11.77 | |
Median = Avg(n/2 + (n+2/2) | ||
Aveage of 5 and 6 item | ||
10.81 |
Range of Budget = Highest Value - Lowest Value
= 11.77 - 8.25 = 3.52 Millions
Variance
To calculate variance start by calculating the mean, or average, of your sample. Then, subtract the mean from each data point, and square the differences. Next, add up all of the squared differences. Finally, divide the sum by n minus 1, where n equals the total number of data points in your sample
Sr No. | Year | Number Of Projects | Difference | Square of Differences |
1 | 2006 | 4 | 1.2 | 1.44 |
2 | 2007 | 2 | -0.8 | 0.64 |
3 | 2008 | 3 | 0.2 | 0.04 |
4 | 2009 | 2 | -0.8 | 0.64 |
5 | 2010 | 1 | -1.8 | 3.24 |
6 | 2011 | 2 | -0.8 | 0.64 |
7 | 2012 | 4 | 1.2 | 1.44 |
8 | 2013 | 6 | 3.2 | 10.24 |
9 | 2014 | 2 | -0.8 | 0.64 |
10 | 2015 | 2 | -0.8 | 0.64 |
Total | 28 | 19.6 | ||
Mean | 2.8 | |||
Variance | 2.178 |
Mean = 2.8
Sum of Squared Differences = 19.6
Total Observations = n = 10
n-1 = 10 - 1 = 9
Variance = 19.6 / 9 = 2.178