Question

In: Statistics and Probability

The table shows the daily sales (in $1000) of shopping mall for some randomly selected days...

The table shows the daily sales (in $1000) of shopping mall for some randomly selected
days
Sales 1.1-1.5 1.6-2.0 2.1-2.5 2.6-3.0 3.1-3.5 3.6-4.0 4.1-4.5
Days 18 27 31 40 56 55 23
Use it to answer questions 13 and 14.
13. What is the approximate value for the modal daily sales?
A. $3,129.41 B. $2,629.41 C. $3,079.41 D. $3,123.53
14. The approximate median daily sales is …
A. $3,130.36 B. $2,680.36 C. $3,180.36 D. $2,664

Solutions

Expert Solution

Classes

Frequency (f)

1.1-1.5

18

1.6-2.0

27

2.1-2.5

31

2.6-3.0

40

3.1-3.5

56

3.6-4.0

55

4.1-4.5

23

First we will convert our inclusive frequency distribution to exclusive

Class

Frequency

1.05 - 1.55

18

1.55 - 2.05

27

2.05 - 2.55

31

2.55 - 3.05

40

3.05 - 3.55

56

3.55 - 4.05

55

4.05 - 4.55

23



Solution:

Class

Frequency (f)

cf

1.05-1.55

18

18

1.55-2.05

27

45

2.05-2.55

31

76

2.55-3.05

40

116

3.05-3.55

56

172

3.55-4.05

55

227

4.05-4.55

23

250

---

---

---

--

n=250

--



14


To find Median Class
= value of (n / 2)th observation

= value of (250 / 2)th observation

= value of 125th observation

From the column of cumulative frequency cf,

we find that the 125th observation lies in the class 3.05-3.55.

∴ The median class is 3.05-3.55.

Now,


L=lower boundary point of median class =3.05

n=Total frequency =250

cf=Cumulative frequency of the class preceding the median class =116

f=Frequency of the median class =56

c=class length of median class =0.5

Median M=L+n2-cffc

=3.05+125-11656⋅0.5

=3.05+956⋅0.5

=3.05+0.08036

=3.13036

hence median sales = 3130.36

13.

Similarly modal daily sales =

we can estimate the Mode using the following formula:

Estimated Mode =

L + fm − fm-1(fm − fm-1) + (fm − fm+1) × w

where:

  • L is the lower class boundary of the modal group
  • fm-1 is the frequency of the group before the modal group
  • fm is the frequency of the modal group
  • fm+1 is the frequency of the group after the modal group
  • w is the group width

now

We can easily find the modal group (the group with the highest frequency), which is 3.05 -3.55

L = 3.05

fm-1 =40

fm =56

fm+1 = 55

w = 0.5

mode =

mode = 3.05 + 0.4705 = 3.5205

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