2.1

1) The Mean Corporation has developed a new soft drink flavor and is considering taking it into mass production. They decide to offer samples of the drink to 50 people in order to get some idea of how well the drink may sell. The 50 people are asked if they would consider buying the drink in the future. The responses may be: 'Yes', 'No', or 'Don't know'. Some of the results of this survey are presented in the following table.

Complete the table, giving your answers as frequencies or, where appropriate, as percentages. Give your answers to the nearest whole number.

Response ---- Frequency ---- Percentage (%)

Yes ---- _______ ---- __46__

No ---- _______ ---- __40__

Don't Know ---- _______ ---- _______

2) You are an editor at a financial journal and your supervisor has given you the task of giving a small presentation to your team. One of the subjects on which you will be talking is the Mean Corporation's share in the fake plastic plant industry.

Fake plastic plants are manufactured by three different companies across the country. A survey of 68 plastic plant owners found that 23 had purchased from the Mean Corporation, while 17 had purchased from Polythene Plants and 28 had purchased from Trippy Trees. This information is presented in the following table.

Company ------- Number of Owners

Mean Corporation 23

Polythene Plants 17

Trippy Trees 28

Your supervisor suggests that you create a relatively frequency bar chart for your presentation. The information that is typically used to do this but is not directly given in the above table is:

A) the different categories that will be present in the bar chart

B) the proportion of data values that fall into each category

C)the frequency of each category in the data

D)none of the above - a relative frequency bar chart does not typically use any information other than that directly given in the above table

ANSWER:__________

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3.4

3) An investigation has been conducted to determine whether there is a relationship between the salary paid to a Chief Executive Officer (CEO) and the productivity of that CEO as measured by the change in profits from the time the CEO was employed.

The scatterplot plots the salary paid (x) against the change in profits (y) of a sample of CEOs. Without doing any calculations and according only to this scatter diagram, a reasonable coefficient of correlation (r) between x and y would be:

A) r = -2.00

B) r = -0.51

C) r = 0.52

D) r = 1.56

ASNWER:______

4) The following table contains executive salaries and employee turnover for the Mean Corporation over the last 9 years. By 'executive salaries', the Mean Corporation is referring to the total executive salaries each year. That is, the value of executive salaries each year is the combined value of all annual salaries that are paid to the executives of the Mean Corporation that year. 'Employee turnover' is the number of employees who leave the Mean Corporation per year.

Year ------------------------------------ 1 ------ 2 ------ 3 ------ 4 ------5 ------ 6 ------ 7 ------ 8 ------ 9

Executive salaries ($)------------------------57,000 63,000 67,000 69,000 70,000 73,000 79,000 93,000 97,000

Employee turnover ------------------------ 45 50 55 60 80 70 85 75 90

a)Calculate the mean executive salaries (x) and mean employee turnover (y) for the Mean Corporation. Give your answers to 2 decimal places.

x= $______

y=____employees per year

b)Calculate the standard deviation of executive salaries (s_x) and the standard deviation of employee turnover (s_y) for the Mean Corporation. Give your answers to 2 decimal places. If you use your answers to parta)in your calculation, use theroundedversions.

s_x= $_______

s_y=______ employees per year

c)Calculate the correlation (r) between the executive salaries and employee turnover for the Mean Corporation. Give your answer to 2 decimal places. If you use your answers to partsa)orb)in your calculation, use theroundedversions.

r =_______