1) For what data in your professional or personal life would it be useful to con
ID: 3183456 • Letter: 1
Question
1) For what data in your professional or personal life would it be useful to construct a frequency table or histogram? If you give this some thought, you should be able to identify several sets of data. 2) After using the formula for determining the value of P16 (the 16th percentile) in a data set, the result is L = 5 (this whole number was obtained without rounding). How do we use this result to determine the value of P16? 3) It is common for car insurance companies to charge higher premiums for younger drivers. Younger drivers tend to earn less income than older drivers on average. So why are younger drivers expected to pay higher premiums? Do insurance companies have a right to charge different premiums to different customers for the same coverage based on their age?
Explanation / Answer
I work In sales so we generally use frequency distribution by products or by the no. of sales per day
20 |There is no data of formula to provide this result. However to find percentile of the above data.
the following steps can be used.
Order all the values in the data set from smallest to largest.
Multiply k percent by the total number of values, n.
This number is called the index.
If the index obtained in Step 2 is not a whole number, round it up to the nearest whole number and go to Step 4a. If the index obtained in Step 2 is a whole number, go to Step 4b.
4a.Count the values in your data set from left to right (from the smallest to the largest value) until you reach the number indicated by Step 3.
The corresponding value in your data set is the kth percentile.
4b.Count the values in your data set from left to right until you reach the number indicated by Step 2.
The kth percentile is the average of that corresponding value in your data set and the value that directly follows it.
So in my case the 16th percentile is the 2nd term when rearranging in decending which is 12.
3)
Day Sales Product 1 10 Product 2 12 Product 3 13 Product 4 15 Product 5 14 Product 6 14 Product 7 13 Product 8 14 Product 9 15 Product 10 16Related Questions
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