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Barrow Solutions Chapter 1

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Statistics for Economics, Accounting and Business Studies

Michael Barrow

Solutions to End of Chapter Problems – Selected Chapters

Chapter 1 –

Problem number:

1.1a)
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When comparing, you have to taken into consideration the difference in the sample size, which distorts the comparison. Comparing the two graphs, there seems to be more women than men with Other Qualification and more men with Higher Education.

1.1b)
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Comparing the two graphs, there is an indication that there are more inactive women, especially in the Other Qualification and No Qualification groups.

1.1c)
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Outcome is very similar to Figure 1.4, and the reasons are likely to be the same as well.

1.1d)
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Not too dissimilar to …show more content…

Over time, there appears to have been no significant change.

1.7e) The mean would now be 31.115, but the more and the median are unaffected.

1.8a) All calculations are similar to the calculations in Problem 1.7. Mean = 33.41; Median = 7.54; Mode = in the first class. They differ because of the skewness of the distribution

1.8b) Q1 = 3.77; Q3 = 17.82; IQR = 14.05; Var. = 14,885.32; St. Dev. = 122.01; C.V. = 3.65

1.8c) Coefficient of Skewness = 11.16

1.9) Average = (33*55.7 + 40*59.6 + 25*57)/(33+40+25) = 57.62 pence per litre.

1.10) Total expenditure = 8,000*890 + 7,000*1,450 + 3,000*1,910 = 23,000,000

Total number of students = 8,000 + 7,000 + 3,000 = 18,000

23,000,000 / 18,000 = 1,277.78 per student, as per equation 1.9

1.11a) Student A -> z = (83 – 65) / √144 = 18 / 12 = 1.5

Student A -> z = (47 – 65) / √144 = -18 / 12 = -1.5

1.11b) Using Chebychev’s Theorem with k = 1.5, we have at least (1 – 1/1.52) = 55.56% lying within 1.5 standard deviations of the mean, so at most 44.44% outside that range.

1.11c) As Chebyshev’ theorem applies to both tails, we cannot answer about the number of students just above or just below 1.5 standard deviations, just the total outside. If the distribution is skewed, it would be wrong to

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