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Question 1: The following table gives the frequency distribution of the number of orders received each day...

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Basic Math

Question 1:

  1. The following table gives the frequency distribution of thenumber of orders received each day during the past 50 days at theoffice of the mail order company. Calculate the mean, mode, median,quartiles, variance and standard deviation.

Number of Order

Frequency

10-12

13-15

16-18

19-21

4

12

20

14

n=50

                                                                                                                                   

b. "Fits", a designer dress retailer specialising in ladies'formal wear, is currently in the process of re-ordering a batch offormal black dinner dresses. From its records of the last 100sales, the following statistics on the dress sizes sold werecalculated:

Mean(x) = 8.75 Md= 7.5 Mo = 8

Which measure of central tendency best describes the averagesize of dresses sold?

c. Suppose the probability that a house of a certain type willburn down in any 12-month period is 0.004. An insurance companyoffers to sell the owner of such a house a $120, 000 one-year termfire-insurance policy for a premium of $690. What is the company'sexpected gain from such a contract?

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