Question

3. Create a frequency table for classes of MPG, including frequency and relative frequency for the...

3. Create a frequency table for classes of MPG, including frequency and relative frequency for the cars in the sample.

4.Calculate the mean Days in Inventory for the cars in the sample. Also, do the following: Compare the mean to the median and the mode. Highlight the value that would be a better representation of the "typical" price of a car in inventory.

Sample Car # Color MPG Suggest Retail Price Option Package Days in Inventory
1 Grey 27.6 $    24,390.00 LX 1
2 Grey 32.4 $    21,780.00 Touring 10
3 Blue 33.2 $    21,149.00 Touring 28
4 Black 34.7 $    22,069.00 LX 21
5 Blue 27.2 $    22,532.00 Touring 16
6 Blue 26.6 $    20,345.00 Touring 22
7 Red 37.3 $    22,112.00 EX 12
8 Silver 34.9 $    21,289.00 Touring 23
9 Silver 29.6 $    24,871.00 LX 15
10 Silver 32.3 $    25,389.00 EX 8
11 Grey 31.9 $    25,998.00 EX 28
12 Red 26.4 $    19,713.00 LX 55
13 Black 34.8 $    25,213.00 EX 2
14 Silver 35.9 $    24,467.00 Touring 33
15 Black 34.6 $    21,402.00 LX 17
16 Black 33.3 $    20,351.00 LX 14
17 Grey 33.1 $    23,732.00 Touring 1
18 Red 37.5 $    24,558.00 Touring 2
19 Red 27.8 $    19,167.00 LX 18
20 Red 36.1 $    19,903.00 Touring 22
21 Blue 28.8 $    22,140.00 Touring 19
22 Red 26.2 $    22,180.00 EX 41
23 Silver 27.4 $    23,120.00 Touring 33
24 Black 34.9 $    19,837.00 Touring 21
25 Red 36.5 $    24,666.00 EX 31
26 Red 26.3 $    19,446.00 EX 35
27 Blue 31.4 $    23,954.00 Touring 11
28 Blue 30.9 $    21,201.00 LX 3
29 Red 27.4 $    21,346.00 EX 26
30 Red 36 $    19,406.00 EX 31

Homework Answers

Answer #1

I have created frequency table for MPG including relative frequency. Here I have created class having width 2 MPG. And in that classes I have classified all the observations. In that table observation equal to upper class limit is excluded from the same class.

Sr.No Class Limits for MPG Frequency Relative Freqency
1 0-26 0 0
2 26-28 9 0.3
3 28-30 2 0.066666667
4 30-32 3 0.1
5 32-34 5 0.166666667
6 34-36 6 0.2
7 36-38 5 0.166666667
Total 30 1

To find the relative frequency, divide thefrequency by the total frequency.

b) Mean days for the inventory for the cars in sample is 19.966667.

Median is 20 and Mode is 1.

In this example you have to prefer value of mean which is a better representation of the  "typical" price of a car in inventory.

Thank you...

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