Question

The monthly issues of the Journal of Finance are available on the Internet. The table below shows the number of times an issue was downloaded over the last 33 months. Suppose you wish to summarize the number of downloads with a frequency distribution.

312 2,753 2,595 6,057 7,624 6,624 6,362 6,575 7,760 7,085 7,272
5,967 5,256 6,160 6,238 6,709 7,193 5,631 6,490 6,682 7,829 7,091
6,871 6,230 7,253 5,507 5,676 6,974 6,915 4,999 5,689 6,143 7,086
A. Find the mean, median, mode, minimum and maximum values as well as variance, standard deviation, range.
B. Use the data above to create a frequency distribution table with 11 classes and find the: mean and relative frequency.

Answer 1

Kindly check explanation

Explanation:

Given the data below :

312 2753 2595 6057 7624 6624 6362 6575 7760 7085 7272 5967 5256 6160 6238 6709 7193 5631 6490 6682 7829 7091 6871 6230 7253 5507 5676 6974 6915 4999 5689 6143 7086

The maximum value = 7829

Minimum value = 312

Range (maximum - minimum) = (7829 - 312) = 7517

Mode(most frequently occurring) = all observations occur once

Median = 1/2 (n+1)th term

= 1/2 (33+1) = 1/2 (34) = 17th term = 6490 (after rearranging in ascending order)

Mean(m) = Σ(X) /number of observations (n) = (201608)/33 = 6109.33

Variance = Σ(x - m)² / n = 78234131 / 33 = 2370731.2

Standard deviation = sqrt(variance) = sqrt(2370731.2) = 1539.7179