Calculate the range and the standard deviation

Assignment Help Financial Accounting

Reference no: EM131190798

Advanced Diploma of Accounting-

Question 1: Listed below are the earnings of a group of accounting graduates in their first year at work. All amounts are in thousands of dollars:

29.5, 30.2, 31.5, 24.3, 40.5, 37.3, 27.4, 35.2, 32.1, 34.6

33.4, 37.4, 26.8, 34.0, 34.7, 39.0, 40.5, 38.0, 29.6, 30.4

41.7, 35.4, 33.7, 38.6, 36.5, 32.2, 37.5, 28.4, 37.1, 35.8

For the same data set:

a) Prepare a frequency table using the class intervals given.

b) Calculate the mean, the median and the mode. Show your workings

c) Calculate the range and the standard deviation. Use MS Excel to calculate the Standard Deviation.

d) For the same data set calculate the inter-quartile range. Show your workings.

Question 2:

1- When is it more appropriate to use the median as a measure of central tendency than the mean?

2- List two advantages of using the mean as a measure of central tendency?

Question 3: In a pet store, there are 6 puppies, 9 kittens, 4 gerbils, and 7 parakeets. If a pet is chosen at random, what is the probability of getting a puppy or a parakeet? Show your workings.

Question 4: Assume 20% of males and 15% of females are left-handed, and that males and females each form 50% of the population. A student observing left-handedness selects a left-handed person at random. What is the probability that the person selected is:

a) Male?

b) Female?

Show your workings.

Question 5: A survey is to be taken by Oz University to discover student opinions on the provision of cafeteria facilities. Remember that Oz University is a multi-campus institution, and that full and part-time students must be catered for.

a) Briefly outline a random sampling method which could be used to select a sample of 100 students for questioning.

b) State one main advantage and one disadvantage of the sample you devised in a) above

Question 6: A movie fan calculated that the mean running time of horror films made in the 1980's was 90 minutes with a standard deviation of eight minutes. Given that 7,250 horror films were made in the 1980's how many would you expect to run for:

a) Between 66 and 114 minutes?

b) Between 74 and 106 minutes?

Question 7: The internal auditors for Accurate Accounting Systems carried out a random check of 30 employees for errors. The investigation provided the following information:

Number of errors	0	1	2	3	4	5	6
Number of employees	2	4	5	7	6	4	2

Draw an appropriate cumulative frequency curve (histogram)

Question 8: Suppose a survey of 70 people produced the following results:

19 ate eggs for breakfast; 18 ate meat; 50 ate toast; 12 ate eggs and meat; 10 ate meat and toast; 13 ate eggs and toast; and nine ate all three.

Illustrate using Venn diagram theory:

a) How many ate none of the three?

b) How many ate toast, but neither eggs nor meat?

c) How may ate eggs and meat but not toast?

d) What is the probability that a person ate meat only?

e) What is the probability that a person ate none of the three?

Reference no: EM131190798

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