Lab Number 7 Key
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Coastal Carolina Community College *
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Course
043
Subject
Mathematics
Date
Apr 3, 2024
Type
docx
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3
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MAT 043
Lab #7 Key
1.
The data below represents the 2019 market value of some of the world’s largest companies according to Forbes Magazine.
Company
Market Value (billions of dollars)
Bank of America
287
Wells Fargo
215
BP
150
Apple
961
AT&T
233
Verizon
240
Amazon
916
BMW
58
Pepsi
178
Sony
60
Ford
38
American Express
95
Microsoft
947
Nestle
281
Samsung
272
Exxon Mobile
343
IBM
125
General Motors
57
Walmart
296
Data in order:
38, 57, 58, 60, 95, 125, 150, 178, 215, 233, 240, 272, 281, 287, 296, 343, 916, 947, 961
n
=
19
Use the company market value data set to find the following:
a.
Find the mean
(round to the nearest whole number)
x
=
5752
19
=
302.74
≈$
303 billion
b.
Find the mode
No mode
c.
Find the median
M
=
n
+
1
2
=
19
+
1
2
=
20
2
=
10 th position, so M
=
$
233 billion
d.
Find the range
range
=
961
−
38
=
$
923billion
e.
Are there any distinct outliers present in this data set? If so, list them.
Yes, $916 billion, $947 billion, and $961 billion
2.
Let’s calculate the five-number summary for the company data and then create a box and whisker plot to model the data.
38, 57, 58, 60, 95 Q
1
, 125, 150, 178, 215, 233 median
, 240, 272, 281, 287, 296 Q
3
, 343, 916, 947, 961
Company
Market Value (Billions of Dollars)
Bank of America
287
Wells Fargo
215
BP
150
Apple
961
AT&T
233
Verizon
240
Amazon
916
BMW
58
Pepsi
178
Sony
60
Ford
38
American Express
95
Microsoft
947
Nestle
281
Samsung
272
Exxon Mobile
343
IBM
125
General Motors
57
Walmart
296
Indicate the five-number summary:
Low: 38, Q
1
: 95, M: 233, Q
3
: 296, High: 961
Construct a box and whisker plot to model the data above:
Characterize the data above as: Right Skewed
3.
Using the data calculated from #2, find the following:
a)
What percent of the companies made more than $296 billion? 25%
b)
What percent of the companies made less than $233 billion? 50%
c)
What earning range did the middle 50% of the companies earn? Between Q
1
and Q
3
, $95 billion to $296 billion
d)
What percent of the companies earned more than $95 billion? 75%
4.
Using a portion of the company market value data, compute the standard deviation
Company
Market Value (Billions of Dollars)
Bank of America
287
Wells Fargo
215
BP
150
Apple
961
AT&T
233
Verizon
240
Sony
60
Ford
38
General Motors
57
n
=
9
Calculate the Mean:
x
=
2241
9
=
$
249billion
Use the table below to calculate the standard deviation: (Round to the nearest whole number)
Data
x
−
x
(
x
−
x
)
2
287
287
−
249
=
38
(
38
)
2
=
1444
215
215
−
249
=−
34
(
−
34
)
2
=
1156
150
150
−
249
=−
99
(
−
99
)
2
=
9801
961
961
−
249
=
712
(
712
)
2
=
506944
233
233
−
249
=−
16
(
−
16
)
2
=
256
240
240
−
249
=−
9
(
−
9
)
2
=
81
60
60
−
249
=−
189
(
−
189
)
2
=
35721
38
38
−
249
=−
211
(
−
211
)
2
=
44521
57
57
−
249
=−
192
(
−
192
)
2
=
36864
Total
0
636,788
s
=
√
636788
9
−
1
=
√
636788
8
=
282.13
≈ $
282billion
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