Question 1:

(a)Consider the following quantitative / numerical data, what measurement scale are they? (1 mark each)

(i)Temperature in Fahrenheit

(ii)Number of months between two economic recessions

Question 1: (al (bl Consider the following quantitative / numerical data, what measurement scale are they? (1 mark each} (1) Temperature in Fahrenheit (ii) Number of months between two economic recessionls The following table shows a study involving interviewees who were asked to provide information about how much they spend on their phone bill each month. (1 mark each) 500: $515 26 25 0.130 13.0 >515 to 5530 40 55 0.330 33.0 >530 to 5545 34 100 0.500 50.0 >545 to 5350 23 123 0.540 54.0 >550 to 5575 13 141 0.705 70.5 >575 to $90 23 150 0.345 84.5 >590 to $105 1? 186 0.930 93.0 >5105to $3120 14 200 1.000 100.0 _ (U How many people did we interview? (ii) How many people are there who spend between $60 and $105 per month? (iii) What is the fraction of people who spend between $15 and $30 per month among all interviewees? (c) m is ; MSWbased business specialised in providing tailor-made travel insurance. The CEO is assessing Maggi; investment in three platforms where its advertisement runs: social media, TV and radio. The following table shows the descriptive statistics of profit per month (dollars in thousands) generated from TV and radio advertisement, based on 12 monthly profit figures in a randomly chosen year. m __ ___ m- The analyst hired by Wig lost her result of social media by accident. Fortunately, she managed to recover the raw data of monthly prot figures for social media, as shown in the table below. (1 mark each) Monthiy prot generated through sociai media advertisement; sorted ascending order Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 20.1 1.9 3.7 20.9 1.3 15.6 21.3 9.6 13.1 16.3 14.5 9 (1) Does the data correspond to the population or a sample? (ii) Find the median of monthly profit generated by social media advertisement (iii) Compute the mean profit generated by social media advertisement (iv) Compute the variance and standard deviation for social media advertisement (v) Relative to each platform's mean return achieved, which option generates the greatest volatility in profit? (Hint: Use CV)