A market with 168 operating firms has the following distribution of average numberof workers in various income groups:Income groups :150-300300-500500-800800-12001200-1800No. of firms :4032262842Average No. of workers :8127.58.54Find the average salary paid in the whole market.

Average : The add of a bunch of values divided by n, wherever n is that the range of values within…

Answered: A market with 168 operating firms has…

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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I.
The following table shows the annual income, in dollars, and amount spent on vacation, in dollars, for a sample of 8 families. Income 41,100 53,000 27,400 34,400 65,800 98,100 72,000 56,700 Vacation 2,700 2,400 1,700 2,500 2,800 5,100 4,200 3,200 (a) Create a scatterplot of the data in the table. (b) Describe the association shown in the scatterplot created in part (a). (c) Calculate the coefficient of determination for the data, and interpret the value in context.
Mariah Jacobsen is the marketing manager at ABC Electronics, a major consumer electronics supplier in the northwest. Over the last five years, sales of the company's flagship product - the Wizer Anonymizer (the WA) - have been 45000, 45500, 44500, 46000 and 44000 units. This rate of sales is considered average for the product over the last twenty years or so. Ms. Jacobsen believes that the distribution of the WA's sales is normal with a standard deviation of 1500 units. If she were asked to make a forecast of next year's sales to upper management, what is the likelihood that she would be correct if she predicts sales between 43000 and 46000?
The following table is based on information from the U.S. Census Bureau regarding the type of health insurance coverage of people by age in the year 2006: Health Insurance Coverage Age <18 (A) 18-44 (B) 45-64 (C) >64 (D) Private (P) 365 545 390 185 Government (G) 210 109 105 315 None (N) 85 260 100 35 Find P(B)
3. The following data shows prices of three types of fruits over ten years. Year Mango Orange Blackberry 50 100 150 55 115 155 60 100 125 4 55 110 130 63 120 120 65 110 125 7 70 105 140 8 75 120 170 60 130 160 10 65 135 175 Take year 1 as the base year. In that year the production of Mango, Orange, and Blackberry was 50, 25, and 15 thousand kilograms respectively. a) Find the un-weighted index of prices. b) Find the Laspeyres index for fruit prices. c) What is the change in price from year 6 to year 7 if you use un-weighted index. d) What is the change in price from year 6 to year 7 if you use Laspeyres index. e) Is answer to c is different from answer to d. Explain your answer
(5) A certain educational institute has 15 centers located at different places in a city. There are three telephone operators in each center. The manager wanted to estimate the average number of calls received per telephone per week for this institute. He decided to select four centers and the number of calls received on last week for each operator were recorded. The data collected are given in Table 02. Answer the following questions. Table 02: Number of calls received for each operator 25, 15, 30 18, 12, 10 20, 18, 22 15, 20, 18 Center 1 4 (i) (ii) What is the sampling method used in this study? Justify your answer. Estimate the average number of telephone calls received per telephone operator.
The following frequency distribution gives the credit card debt of bank customers. Debt Frequency $0 - $999 100 $1000 - $1999 300 $2000 - $2999 1200 $3000 $3999 1100 $4000 - $4999 600 $5000 $5999 200 Give the class width. (Enter without a dollar sign) O $999 O $1999.50, $2999.50, $3999.50, $4999.50 $1,000 O $4000
The following frequency distribution gives the credit card debt of bank customers. Debt Frequency $0- $999 100 $1000 $1999 300 $2000 - $2999 1200 $3000 - $3999 1100 $4000 $4999 600 $5000 - $5999 200 Give the class boundaries. $999 O $1999.50, $2999.50, $3999.50, $4999.50 $1999.05, $2999.05, $3999.05, $4999.05 O $1000 « Previous

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A market with 168 operating firms has the following distribution of average number of wofkers in various income groups : Income groups : 150-300 300-500 500-800 800-1200 1200-1800 No. of firms : 40 32 26 28 42 Average No. of workers: 8 12 7.5 8.5 4 Find the average salary paid in the whole market.