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Business Statistics Assignment Final

The document presents a business statistics assignment with two main questions. The first question involves calculating values and the mean of grouped data, while the second question focuses on the probability of audio speakers functioning beyond 9 years and the probability of exactly 7 out of 12 speakers working for over 9 years. Key results include a mean of 17 days for the grouped data and a probability of 27.43% for speakers lasting over 9 years, with a 1.86% chance for exactly 7 speakers to meet this criterion.

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17 views4 pages

Business Statistics Assignment Final

The document presents a business statistics assignment with two main questions. The first question involves calculating values and the mean of grouped data, while the second question focuses on the probability of audio speakers functioning beyond 9 years and the probability of exactly 7 out of 12 speakers working for over 9 years. Key results include a mean of 17 days for the grouped data and a probability of 27.43% for speakers lasting over 9 years, with a 1.86% chance for exactly 7 speakers to meet this criterion.

Uploaded by

princenton.sambo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Business Statistics Assignment 29 February 2024

Question 1

I. The values of A, B, C and E:

Interval Frequency (f) Cumulative frequency Midpoint (x) Product (fx)


0<5 2 2 2.5 5
5>10 4 6 7.5 30
10<15 8 14 12.5 100
15<20 6 20 17.5 105
20<25 4 24 22.5 90
25<30 3 27 27.5 82.5
30<35 3 30 32.5 97.5
S 510

𝑨 = 𝟐 × 𝟐. 𝟓 = 𝟓

𝑩 = 𝟏𝟒 × 𝟏𝟐. 𝟓 = 𝟏𝟎𝟎

𝑪 = 𝟐𝟒 × 𝟐𝟐. 𝟓 = 𝟗𝟎

𝑬 = 𝟓 + 𝟑𝟎 + 𝟏𝟎𝟎 + 𝟏𝟎𝟓 + 𝟗𝟎 + 𝟖𝟐. 𝟓 + 𝟗𝟕. 𝟓 = 𝟓𝟏𝟎

II. The mean of the grouped data

Interval Frequency (f) Cumulative frequency Midpoint (x) Product (fx)


0<5 2 2 2.5 5
5>10 4 6 7.5 30
10<15 8 14 12.5 100
15<20 6 20 17.5 105
20<25 4 24 22.5 90
25<30 3 27 27.5 82.5
30<35 3 30 32.5 97.5
S 510

∑ 𝑓𝑥
𝑀𝑒𝑎𝑛 =
𝑛
𝑛(𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑐𝑜𝑚𝑝𝑙𝑎𝑖𝑛𝑡𝑠) = 30

Σ𝑓𝑥(𝑠𝑢𝑚 𝑜𝑓 𝑝𝑟𝑜𝑑𝑢𝑐𝑡) = 510

510
𝑀𝑒𝑎𝑛 =
30
𝑀𝑒𝑎𝑛 = 17 𝑑𝑎𝑦𝑠

1|Page
III. Graph of an Ogive curve for the grouped data:

2|P age
Question 2

I. Probability that a randomly selected audio speaker will work for more than 9 years
without trouble

𝐴𝑣𝑒𝑟𝑎𝑔𝑒 𝑙𝑖𝑓𝑒𝑠𝑝𝑎𝑛 = 7.5 𝑦𝑒𝑎𝑟𝑠


30
𝑆𝑡𝑎𝑛𝑑𝑎𝑟𝑑 𝑑𝑒𝑣𝑖𝑎𝑡𝑖𝑜𝑛 = 30 𝑚𝑜𝑛𝑡ℎ𝑠 = 𝑦𝑒𝑎𝑟𝑠 = 2.5 𝑦𝑒𝑎𝑟𝑠
12
𝑇ℎ𝑒 𝑍 − 𝑠𝑐𝑜𝑟𝑒:

𝑋−𝜇
𝑍=
𝜎
𝑋 𝑖𝑠 𝑡ℎ𝑒 𝑣𝑎𝑙𝑢𝑒 𝑏𝑒𝑖𝑛𝑔 𝑒𝑥𝑎𝑚𝑖𝑛𝑒𝑑 = 9 𝑦𝑒𝑎𝑟𝑠

𝜇 𝑖𝑠 𝑡ℎ𝑒 𝑚𝑒𝑎𝑛 𝑑𝑖𝑠𝑡𝑟𝑖𝑏𝑢𝑡𝑖𝑜𝑛 = 7.5 𝑦𝑒𝑎𝑟𝑠

𝜎 𝑖𝑠 𝑡ℎ𝑒 𝑠𝑡𝑎𝑛𝑑𝑎𝑟𝑑 𝑑𝑒𝑣𝑖𝑎𝑡𝑖𝑜𝑛 = 2.5 𝑦𝑒𝑎𝑟𝑠

𝑋−𝜇
𝑍=
𝜎
9 − 7.5
𝑍=
2.5
1.5
𝑍=
2.5
𝑍 = 0.6

P-value from Z-Table:


P(x<9) = 0.72575
P(x>9) = 1 - P(x<9) = 0.27425
P(7.5<x<9) = P(x<9) - 0.5 = 0.22575
∴ The probability that a randomly selected audio speaker will work for more than 9 years
without any trouble is 27.43%

3|Page
II. The probability that exactly 7 out of the 12 audio speakers purchased by the company
will work for over 9 years without any problem

𝑃(𝑋) = 𝑛𝐶𝑥 × 𝑝 × (1 − 𝑝)

𝑛!
𝑛𝐶𝑥 =
𝑥! (𝑛 − 𝑥)!

12!
𝑛𝐶𝑥 =
7! (12 − 7)!

12 × 11 × 10 × 9 × 8 × 7!
𝑛𝐶𝑥 =
7! (5)!

12 × 11 × 10 × 9 × 8
𝑛𝐶𝑥 =
5×4×3×2×1
95040
𝑛𝐶𝑥 =
120
𝑛𝐶𝑥 = 792

𝑛 𝑖𝑠 𝑡ℎ𝑒 𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑡𝑟𝑖𝑎𝑙𝑠 = 12

𝑥 𝑖𝑠 𝑡ℎ𝑒 𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑠𝑢𝑐𝑐𝑒𝑠𝑠𝑒𝑠 = 7

𝑝 𝑖𝑠 𝑡ℎ𝑒 𝑝𝑟𝑜𝑏𝑎𝑏𝑖𝑙𝑖𝑡𝑦 𝑜𝑓 𝑠𝑢𝑐𝑐𝑒𝑠𝑠 = 0.27425

1 − 𝑝 𝑖𝑠 𝑡ℎ𝑒 𝑐ℎ𝑎𝑛𝑐𝑒 𝑜𝑓 𝑓𝑎𝑖𝑙𝑢𝑟𝑒 = 1 − 0.27425 = 0.72575

𝑃(𝑋) = 𝑛𝐶𝑥 × 𝑝 × (1 − 𝑝)

𝑃(𝑋) = 792 × 0.27425 × (1 − 0.27425)

𝑃(𝑋) = 792 × 0.27425 × (1 − 0.27425)

𝑃(𝑋) = 0.0186 or 1.86%

∴ The probability that exactly 7 out of the 12 audio speakers purchased by the company will
work for over 9 years without any problem is approximately 1.86%.

4|Page

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