2-3 Textbook Assignment: Homework Problems Assignment

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Business Finance

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Complete the Chapter 3 textbook homework assigned by your instructor. Please check the announcements area for information on this assignment.

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3-2. The following data reflect the number of defects produced on an assembly line at the Dearfield Electronics Company for the past 8 days. 3 5 4 0 1 3 2 3 1 0 0 8 1 0 4 3 1 2 5 3 4 2 3 0 a. Compute the mean number of defects for this population of days. b. Compute the median number of defects produced for this population of days. c. Determine if there is a mode number of defects and, if so, indicate the mode value. 3-6. Examine the following data: 23 24 a. b. c. d. 65 17 45 12 19 106 35 23 28 19 39 39 100 70 50 20 26 18 25 44 27 31 Compute the quartiles. Calculate the 90th percentile Develop a box and whisker plot Calculate the 20th and the 30th percentiles. 3-33. A random sample of 20 pledges to a public radio fundraiser revealed the following dollar pledges: 90 125 75 100 50 85 75 60 125 100 100 50 35 75 50 150 100 90 85 80 a. Compute the range, variance, standard deviation, and interquartile range for these sample data. b. Briefly explain the difference between the range and the interquartile range as a measure of dispersion. 3-47. A population of unknown shape has a mean of 3,000 and a standard deviation of 200. a. Find the minimum proportion of observations in the population that are in the range 2,600 to 3,400. b. Determine the maximum proportion of the observations that are above 3,600. c. What statement could you make concerning the proportion of observations that are smaller than 2,400? 3-57. Pfizer, Inc., a major U.S. pharmaceutical company, is developing a new drug aimed at reducing the pain associated with migraine headaches. Two drugs are currently under development. One consideration in the evaluation of the medication is how long the painkilling effects of the drugs last. A random sample of 12 tests for each drug revealed the following times (in minutes) until the effects of the drug were neutralized. The random samples are as follows: Drug A Drug B 258 219 214 283 243 291 227 277 235 258 222 273 240 289 245 260 245 286 234 265 243 284 211 266 a. Calculate the mean and standard deviation for each of the two drugs. b. Based on the sample means calculated in part a, which drug appears to be effective longer? c. Based on the sample standard deviations calculated in part a, which drug appears to have the greater variability in effect time? d. Calculate the sample coefficient of variation for the two drugs. Based on the coefficient of variation, which drug has the greater variability in its time until the effect is neutralized? 3-82. The Hillcrest Golf and Country Club manager selected a random sample of the members and recorded the number of rounds of golf they played last season. The reason for his interest in this data is that the club is thinking of applying a discount to members who golf more than a specified number of rounds per year. The sample of eight people produced the following number of rounds played: 13 a. b. c. d. e. 32 12 9 16 17 16 12 Compute the mean for these sample data. Compute the median for these sample data. Compute the mode for these sample data. Calculate the variance and standard deviation for these sample data. Note that one person in the sample played 32 rounds. What effect, if any, does this large value have on each of the three measures of location? Discuss. f. For these sample data, which measure of location provides the best measure of the center of the data? Discuss. g. Given this samples data, suppose the manager wishes to give discounts to golfers in the top quartile. What should the minimum number of rounds played be to receive a discount?
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