exam 1 - Exam 1 1.) Refer to the Real Estate data at the...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Exam 1 1.) Refer to the Real Estate data at the back of the text, which report information on homes sold in the Denver, Colorado area last year. Consider the following variables: selling price, number of bedrooms, township, and distance from the center of the city. i. Which of the variables are qualitative and which are quantitative? b.) Determine the level of measurement for each of the variables. Selling price in $000 – quantitative, ratio-level ( its numerically and the 0 point is meaningful) Number of bedrooms – quantitative, ratio-level ( its numerically and the 0 point is meaningful) Distance from the center of the city in miles – quantitative, ratio-level ( its numerically and there is distance between values) Township – qualitative, nominal-level ( its nonnumeric and it can only be classified.) 2.) Midland National Bank selected a sample of 40 student checking accounts. Below are their end-of-the-month balances. a. Tally the data into a frequency distribution using $100 as a class interval and $0 as the starting point. frequency 0-100 9 100-200 6 200-300 6 300-400 6 400-500 5 500-600 2 600-700 1 700-800 3 800-900 1 900-1000 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
b. Draw a cumulative frequency polygon. Cumulative frequency 0-100 9 100-200 15 200-300 21 300-400 27 400-500 32 500-600 34 600-700 35 700-800 38 800-900 39 900-1000 40 c. The bank considers any student with an ending balance of $400 or more a
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/15/2009 for the course ECON 2302 taught by Professor Parker during the Spring '09 term at University of Texas-Tyler.

Page1 / 5

exam 1 - Exam 1 1.) Refer to the Real Estate data at the...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online