A MARKETING STUDY OF 800 ADULTS IN THE 18-34 AGE GROUP REPORTED THE FOLLOWING IN
ID: 3428309 • Letter: A
Question
A MARKETING STUDY OF 800 ADULTS IN THE 18-34 AGE GROUP REPORTED THE FOLLOWING INFORMATION:
-spent less than $100 on children's clothing per year: 75 responses
-spent $100 - $499.99 on children's clothing per year: 200 responses
-spent $500 - $999.99 on children's clothing per year: 25 responses
-spent nothing: the remainder
Develop a spreadsheet to estimate the sample mean and sample standard deviation of spending on children's clothing for this age group using measuring skewness and computing statistical measures from frequency distributions.
Explanation / Answer
AMOUNT
Mid X
FREQUENCY F
F*X
F*X*X
0
0
500
0
0
0 -100
50
75
3750
187500
100-499.99
300
200
60000
18000000
500-999.99
750
25
18750
14062500
Total
800
82500
32250000
Mean =82500/800=103.125
Variance = =29714.88
SD=sqrt(var) =172.38
The data are skewed. Median is the best central tendency , in this case median
= average of 400,401 th observation =0
mode =0
range =(0, 999.99)
AMOUNT
Mid X
FREQUENCY F
F*X
F*X*X
0
0
500
0
0
0 -100
50
75
3750
187500
100-499.99
300
200
60000
18000000
500-999.99
750
25
18750
14062500
Total
800
82500
32250000
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