Answered: A businesswoman is planning to have a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

A businesswoman is planning to have a restaurant in the university belt. She wants to study the weekly food allowance of the students in order to plan her pricing strategy for the different menus she is going to offer. She asked 213 students and gathered the following data: 1. What is the average of the given data? 2. What is the mode of the given data? 3. Determine the weekly food allowance where 60% of the students have at most. 4. What percentage of the students have a weekly food allowance that is at most 170 pesos? 5. If the businesswoman wanted to have at least 50% of the students could afford to eat in her restaurant, what should be the minimum total cost of the meals that the student could have in a week?

Weekly Food
Allowance
Weekly Food
Allowance
Frequency
Frequency
50
550
3
100
3
600
18
150
700
750
22
170
1
200
800
16
250
5
900
11
300
5
1000
27
350
1200
2
400
6
1500
3
450
11
1700
1
500
46
2000
1

Definition Definition Measure of central tendency that is the value that occurs most frequently in a data set. A data set may have more than one mode if multiple categories repeat an equal number of times. For example, in a data set with five item—3, 5, 5, 29, 473—the mode is 5 because it occurs twice and no other value occurs more than once. On a histogram or bar chart, the element with the highest bar represents the mode. Therefore, the mode is sometimes considered the most popular option. The mode is useful for nominal or categorical data (e.g., the most common color car that users purchase), but it is problematic for continuous data because it is more likely not to have any value that is more frequent than the other.

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