Question 1 [20 Marks) Assume you are a businessman of industry-related machinery in Sohar, Oman. You have recently obtained a listing of the selling prices of the machinery that have sold in that area in a specific year in thousand. You wish to organize that data so you will be able to provide potential buyers with useful information. 54 49 78 81 36 36 63 43 28 35 56 62 71 50 30 26 47 43 55 47 29 43 47 42 68 78 35 32 56 38 55 57 61 46 68 41 35 41 47 62 43 72 40 34 40 51 71 73 88 62 62 60 40 58 29 65 38 38 26 60 34 50 53 48 45 42 33 31 30 50 56 68 1. Organize the above data into a frequency distribution table. 2. Add the following into the frequency distribution table a. Cumulative frequency of the prices in the distribution. b. Relative frequency of the prices. 3. Create the following charts by using the above data. a. The Histogram b. The Frequency polygon c. The Ogive 4. Are there any extremely large or extremely small data values compared to the other data values? Explain mathematically and identify the value(s). 5. Determine the type of skewness in the distribution? 6. Determine mean price up to one decimal place 7. Identify the Median class Question 1 [20 Marks) Assume you are a businessman of industry-related machinery in Sohar, Oman. You have recently obtained a listing of the selling prices of the machinery that have sold in that area in a specific year in thousand. You wish to organize that data so you will be able to provide potential buyers with useful information. 54 49 78 81 36 36 63 43 28 35 56 62 71 50 30 26 47 43 55 47 29 43 47 42 68 78 35 32 56 38 55 57 61 46 68 41 35 41 47 62 43 72 40 34 40 51 71 73 88 62 62 60 40 58 29 65 38 38 26 60 34 50 53 48 45 42 33 31 30 50 56 68 1. Organize the above data into a frequency distribution table. 2. Add the following into the frequency distribution table a. Cumulative frequency of the prices in the distribution. b. Relative frequency of the prices. 3. Create the following charts by using the above data. a. The Histogram b. The Frequency polygon c. The Ogive 4. Are there any extremely large or extremely small data values compared to the other data values? Explain mathematically and identify the value(s). 5. Determine the type of skewness in the distribution? 6. Determine mean price up to one decimal place 7. Identify the Median class