Question one a below is the frequency distribution of wages...

Name: question one a below is the frequency distribution of wages of employees in a certain company wages usd frequency 50 59 8 60 69 10 70 79 16 80 89 15 90 99 10 100 109 8 i construct a histogra 66807
Uploaded: 2024-01-01T21:51:31-08:00
Duration: 8 min 10 s
Channel: Jason Horton
Description: question one a below is the frequency distribution of wages of employees in a certain company wages usd frequency 50 59 8 60 69 10 70 79 16 80 89 15 90 99 10 100 109 8 i construct a histogra 66807

QUESTION ONE a) Below is the frequency distribution of wages of employees in a certain company: Wages (USD) Frequency 50-59 8 60-69 10 70-79 16 80-89 15 90-99 10 100-109 8 i) Construct a histogram for the wage data above. ii) Construct the ogive (More than and less than) for the data. b) Explain the role of matrices in business solutions. c) Explain the importance of normal distribution. d) Differentiate between qualitative and quantitative data. e) What are the four types of measurement scales?

Transcript

00:01 All right, your picture shows two questions, so let's start with question d, which is an analysis of wages paid to employees for two different organizations, x and y.

00:10 In part one, you're to determine which organization pays a larger amount as monthly wages.

00:17 So we're going to say organization x, total amount paid would be the number of wage earners times the average monthly wages received, which is the 5 ,000.

00:37 And if you multiply those two, you end up with 2 ,750 ,000.

00:45 And that would represent the total monthly wages for organization x.

00:51 Organization y, we would take the number of earners, which is 650, times the average received per earner, which is the 4 ,500, and that works out to be 2 ,925 ,000.

01:12 So to answer the question, which organization pays a larger amount in monthly wages, organization y pays a higher amount.

01:29 And really that question should say total amount of wages.

01:43 All right, moving on to the second part of question d.

01:46 This question says, in which organization is there a greater variability in the individual wages of all the wage earners taken together? for that, we want to compare the two variance numbers that are given.

01:59 Variance represents the amount of variability we see in the data.

02:03 So we would say since organization y has a higher variance, organization y shows greater variability in individual wages.

02:45 So that is just a comparison problem.

02:48 We just needed to compare the given variances, and we can see y had a greater, that might have been 1 ,600.

02:54 It's tough to tell from your picture.

02:56 Either way, i think it is a 1 ,600.

02:59 Either way, it's a larger variance than organization x.

03:06 You want to take that whole highlighted thing as your answer.

03:11 All right, moving on to question e.

03:14 I'm not sure if you're actually asking this question or not, considering d is in the picture as well.

03:20 But i think letter e has a mistake in it, and i'm going to explain that mistake and show you what i believe the answer should be given that mistake.

03:29 All right, so we're told we had a mean for the number of loaves of bread for production level, at 119 ,398...

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