Question

In: Economics

The following table provides the project annual budget, total number of projects, and total number of...

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.

Solutions

Expert Solution

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


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