Answer:
(a) The mean is 107.25, median is 106 and mode is 95.
(b) The data set is right-skewed.
Step-by-step explanation:
The sample space of amount spent for dinner for 28 four-person tables is:
S = {95, 103, 109, 170, 114, 113, 107, 124, 105, 80, 104, 84, 176, 115, 69, 95, 134, 108, 61, 160, 128, 68, 95, 61, 150, 52, 87, 136}
There are <em>n</em> = 28 values in the set.
(a)
The mean of this data set is:
The mean is 107.25.
The data set consists of even number of observations.
The median for an even set of data is the mean of the middle two numbers.
First arrange the data set in ascending order:
52, 61 , 61 , 68 , 69 , 80 , 84 , 87 , 95 , 95 , 95 , 103 , 104 , 105 , 107 , 108 , 109 , 113 , 114 , 115 , 124 , 128 , 134 , 136 , 150 , 160 , 170 , 176
The median is the average value of the 14th and 15th observation.
The median is 106.
The mode of a data set is the value with the most frequency.
Consider the arranged data set.
52, 61 , 61 , 68 , 69 , 80 , 84 , 87 , 95 , 95 , 95 , 103 , 104 , 105 , 107 , 108 , 109 , 113 , 114 , 115 , 124 , 128 , 134 , 136 , 150 , 160 , 170 , 176
The value 95 is repeated most of the times.
Thus, the mode is 95.
(b)
The value of mean, median and mode are related as follows:
Mean > Median > Mode
This implies that the data is skewed.
In case of a right-skewed data the Mean > Median > Mode.
In case of left skewed data the Mean < Median < Mode.
Thus, the data set is right-skewed.
Answer:
True
Step-by-step explanation:
The least total cost method is the method in which the total cost of the ordering cost and the total carrying cost is equal among various lot size available.
The order quantity should be choose when the total ordering cost and the total carrying cost equal to each other
The formula to compute the economic order quantity is shown below:
a. The computation of the economic order quantity is shown below:
It is always be expressed in units
The formula to compute the ordering cost is
And, the formula to compute the carrying cost is
Hence, the given statement is true