A fish shop owner recorded the daily turnover of his 300 trading days as shown in thefrequency table.daily turnover (NAD)number of days500- < 75015750- < 1000231000- < 1250551250- < 1500921500- < 1750651750- < 200050Calculate the following measuresa. The mean daily turnover b. The median daily turnover c. The modal daily turnover d. The variance e. Standard deviation f. The coefficient of variation

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Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015

1st Edition

ISBN:9781680331141

Author:HOUGHTON MIFFLIN HARCOURT

Publisher:HOUGHTON MIFFLIN HARCOURT

Chapter9: Solving Quadratic Functions

Section: Chapter Questions

Problem 4CA

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A fish shop owner recorded the daily turnover of his 300 trading days as shown in the
frequency table.

daily turnover (NAD)	number of days
500- < 750	15
750- < 1000	23
1000- < 1250	55
1250- < 1500	92
1500- < 1750	65
1750- < 2000	50

Calculate the following measures
a. The mean daily turnover
b. The median daily turnover
c. The modal daily turnover
d. The variance
e. Standard deviation
f. The coefficient of variation

Definition Definition Middle value of a data set. The median divides a data set into two halves, and it also called the 50th percentile. The median is much less affected by outliers and skewed data than the mean. If the number of elements in a dataset is odd, then the middlemost element of the data arranged in ascending or descending order is the median. If the number of elements in the dataset is even, the average of the two central elements of the arranged data is the median of the set. For example, if a dataset has five items—12, 13, 21, 27, 31—the median is the third item in ascending order, or 21. If a dataset has six items—12, 13, 21, 27, 31, 33—the median is the average of the third (21) and fourth (27) items. It is calculated as follows: (21 + 27) / 2 = 24.

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