MM255 Business Math and Statistical Measures Unit 7: Instructor Graded Assignment - Version 4 Business Statistics Unit 7 focuses on descriptive business statistics, which is covered in your reading of Chapter 7: \"Business Statistics.\" You must show your work at all times. The steps for solving each problem must be explained. Failure to do so could result in your submission being given a 0 grade. If you have any questions about how much work to show, please contact your instructor. Assignments must be submitted as a Microsoft Word document and uploaded to the Dropbox for Unit 7. Type all answers directly in this Assignment below each question. All Assignments are due by Tuesday at 11:59 p.m. ET of the assigned unit. Available Resources One of the benefits of attending here at Kaplan is that we have a tremendous amount of resources available for you. If you find yourself having difficulties completing this exercise consider taking advantage on one or more of the following resources: 1. Textbook: The textbook reading assigned for each unit includes the topics and calculation details for each type of problems you will complete. 2. LiveBinders: In the LiveBinder for the unit, you will find more information on unit topics, example problems, and video content on the unit's topics. To access the LiveBinder for a unit, use the menu on the left side of the classroom, select the unit you are in, and when you click the unit link several additional links will appear below the unit heading, one of those links will be \"Live Binders.\" 3. a. b. c. d. KU Math Center: Take advantage of the KU Math Center's many services: Math Tutoring Question & Answer Services Request a Video Example Services Project Review Services (be sure to submit Assignments early enough to receive feedback and make corrections before the Assignment due date (24 hour turn-around times Monday-Thursday and 48 hour turn-around times on weekends are typical). e. Math Center Reference Library To access the KU Math Center start at the KU Campus Home Page. From the KU Campus Home Page, select My Studies (top menu bar), then select Academic Support Center, and review the Math Center offerings. MM255 Business Math and Statistical Measures 4. Email Your Instructor: Your instructor is only an email away; when you cannot make any more progress on a problem, reach out. Send your instructor the work you started and steps of the problem you have completed so far, and ask for help. Your instructor will respond within 24 hours. Business Statistics Assignment (Total 40 Points) Question 1: (10 Points) Find the mean, median and mode of the following: Shop Parts Company sales for the month of February. (NOTE: The company is closed on Sundays.) February 2: $4,704 February 3: $5,955 February 4: $3,309 February 5: $3,106 February 6: $7,124 February 7: $2,159 February 9: $3,124 February 10: $4,129 February 11: $3,197 February 12: $2,198 February 13: $7,287 February 14: $1,123 February 16: $4,598 February 17: $3,988 February 18: $3,099 February 19: $3,098 February 20: $5,980 February 21: $3,209 February 23: $6,532 February 24: $3,098 February 25: $4,598 February 26: $4,874 February 27: $9,876 February 28: $5,878 Question 2: (20 Points) a) Set up a frequency distribution table and calculate the relative frequency for the following quiz scores that Pat achieved in his Algebra course: Matt's Quiz Scores: 84, 88, 92, 80, 100, 78, 61, 60, 79, 99, 100, 69, 98, 85, 92, 79, 81, 85, 100, and 100. Use the following frequency intervals: 60 - 70 70 - 80 80 - 90 90 - 100 b) Calculate the variance and standard deviation for Pat's quiz scores. Suggestion: set the problem up in steps within a table like the textbook illustrates. MM255 Business Math and Statistical Measures Question 3: (10 Points) Mark's Average Sales: Monday $4,199 Tuesday $6,900 Wednesday $0 Thursday $11,000 Friday $8,007 Saturday $9,766 Sunday $0 Is it better for Mark to earn 7.5% based on his average daily sales or a flat $4,000 for the week