Median daily turnover of fish shop

Reference no: EM13990061

A fish shop owner recorded the daily turnover of his outlet for 300 trading days as shown in the frequency table.

Daily turnover	Number of days
500 - 750	15
750 - 1 000	23
1 000 - 1 250	55
1 250 - 1 500	92
1 500 - 1 750	65
1 750 - 2 000	50

(a) Compute and interpret the (approximate) average daily turnover of the fish shop. (Hint: Use the weighted average formula, with the midpoint of each interval as xi.)

(b) Find the median daily turnover of the fish shop. Interpret its meaning.

(d) Find the maximum daily turnover associated with the slowest 25% of trading days.

(e) What daily turnover separates the busiest 25% of trading days from the rest?

Reference no: EM13990061

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