Question 4- Measures of central location and dispersion (55 Marks)

It is important when market research is done on any project to present your findings in a user friendly explanatory way to the relevant stakeholders. When research is for example done on the weekly Rand amount spend on fuel purchases and you collect information from a sample of 30 households, it is of no use to the user of this information if you furnish only the individual amounts spend by each household. Therefore market researchers use summary tables and graphs to convey the statistical results of their samples.

The following table provides the data collected on the individual Rand spending on fuel by 30 households in the previous week: 125 145 115 135 125 115 110 125 110 140 140 120 85 120 145 95 85 115 105 120 75 100 130 95 115 110 115 95 100 90Class intervals Tally X f(