Assignment 2 Complete - QUA0003

Assignment #2 (6%) This assignment relates to the Course Learning Requirements: CLR2 Calculate Summary Measures Objective of this Assignment : Evaluate the calculation and interpretation of measures of central tendency (averages) and measures of dispersion. Instructions: Use Word or Excel to solve the following eight exercises, evaluated out of 37 points. Please show all your work. Exercises 1) Consider the following sample values: 1.3, 7.0, 3.6, 4.1, 5.0. (a)Compute the mean; (b) Calculate ∑ ( X − X ) . Round off to nearest 10 th . (4 points) a) mean: 1.3 + 7.0 + 3.6 + 4.1 + 5.0 = 21 21/5 = 4.2 b) X X ∑ ( X − X ) 1.3 4.2 -2.9 7.0 4.2 2.8 3.6 4.2 -0.6 4.1 4.2 -0.1 5.0 4.2 0.8 2) The Bookstall Inc. is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1 each, and hardcover books are $3.50. Of the 50 books sold last Tuesday morning, 40 were paperback, and the rest were hardcover.   What was the weighted mean price of a book? Round to nearest 100-th. Round to nearest 100 th (2 points) 3.50 × 10 = 35 X = 40 + 35 50 = $1.50