Homework 2 Solutions - Homework 2 Chapter 4 Problem 9...

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

View Full Document Right Arrow Icon
Homework 2 Chapter 4 Problem 9 Active consumers make up 13.6% of the market and spend an average of $16.23 per month on your product. Passive consumers make up 23.8% of the market and spend $9.85. The remaining consumers have average spending of $14.77. Find the average spending for all consumers. (0.136 * 16.23) + (0.238 * 9.85) + (0.626 * 14.77) = $13.80 Problem 18 Consider the percent change in housing values over a five-year period for regions of the United States, as shown in Table 4.3.5. Percent Change in Housing Values over Five Years for U.S. Regions Region Percent Change Region Percent Change New England 54.5% West North Central 38.3% Pacific 48.9 West South Central 29.5 Middle Atlantic 35.3 East North Central 32.0 South Atlantic 33.6 East South Central 26.0 Mountain 34.2 a. Find the mean and median percent change in housing values. Mean = 9 26 32 5 . 29 3 . 38 2 . 34 6 . 33 3 . 35 9 . 48 5 . 54 + + + + + + + + = 36.9% Median Rank = 5 2 1 9 = + Ranked Values: 26, 29.5, 32, 33.6, 34.2, 35.3, 38.3, 48.9, 54.5 5 th Value is 34.2%
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. Find the five-number summary for this data set. Smallest Value = Rank of 1 = 26%
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.

Page1 / 5

Homework 2 Solutions - Homework 2 Chapter 4 Problem 9...

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