The Thomas Supply Company Inc. is a distributor of gas-powered generators. As wi
ID: 1168354 • Letter: T
Question
The Thomas Supply Company Inc. is a distributor of gas-powered generators. As with any business, the length of time customers take to pay their invoices is important. Listed below, arranged from smallest to largest, is the time, in days, for a sample of The Thomas Supply Company Inc. invoices.
13
13
13
20
26
29
30
33
34
34
35
35
36
37
38
41
41
41
45
45
47
47
49
52
54
55
56
62
67
82
The Thomas Supply Company Inc. is a distributor of gas-powered generators. As with any business, the length of time customers take to pay their invoices is important. Listed below, arranged from smallest to largest, is the time, in days, for a sample of The Thomas Supply Company Inc. invoices.
Explanation / Answer
(a)
Here, total number of observations, n = 30
So, n / 4 = 7.5
The 1st quartile, Q1, lies between the 7th & 8th obervation.
Or, Q1 = (30 + 33) / 2 = 31.5
Again, (3n / 4) = 22.5
So the 3rd quartile, Q3, lies between 22nd & 23rd observations.
Q3 = (47 + 49) / 2 = 48
(b)
2nd Decile, D2 corresponds to [2 x n / 10] = (n/5)-th observation, that is, the 6th observation.
So, D2 = 29
D8 corresponds to [8 x n / 10] = the 24th observation.
So, D8 = 52
(c)
67th percentile, or P67, corresponds to the (67 x n / 100)th or the 20th observation.
P67 = 45
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