Econ261 Assignment #2

Econ261 Assignment #2 - Joe Wallace Econ 261 Professor...

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Unformatted text preview: Joe Wallace Econ 261 Professor Stiver 9/14/08 Assignment #2 #1 Market Shares of Personal Soap (1983) 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05 Market Shares (%) 0 Dial All Others Lever Bros. Procter & Gamble Colgate­Palmolive Company Market Shares of Personal Soap (1991) 0.35 0.3 0.25 0.2 Series1 0.15 Series2 0.1 0.05 Market Share (%) 0 Dial Others Lever Bros. Procter & Gamble Colgate­Palmolive Company In 1983 Procter Gamble was the leading company in personal soap shares, however in 1991 Lever Bros. surpassed them to take control of a very close competition. #2 Genre R&B Alternative Rap Country Soundtrack Metal Classical Latin Frequency 146.4 102.6 73.7 64.5 56.4 26.6 14.8 14.5 Relative Frequency 0.293 0.205 0.148 0.129 0.113 0.053 0.03 0.029 Top Music Genres 160 140 120 100 80 60 Frequency 40 20 0 R&B Alternative Rap Country Soundtrack Genre Metal Classical Latin Top Music Genres Latin 3% Classical 3% Metal 5% Soundtrack 11% R&B 29% Country 13% Rap 15% Alternative 21% I think the pie chart is more effective for this type of information because it is easier to see the differences in each category. #3 The Response Variable is are the number of rentals The explanatory variable is the family income. Number of Video Rentals Per Day 70 60 50 40 30 ($1,000) 20 Average Family Income 10 0 0 200 400 600 800 Rentals The higher the family income, the more video rentals that family will have. #4 Number of Union Members In The US 17,400 17,200 17,000 16,800 16,600 16,400 Number of Members (1,000s) 16,200 1982 1984 1986 1988 1990 1992 1994 1996 Year The trend of the number of Union Members in the U.S is going down. #5 The Mean for the data is 2,425 The Median for the data is 1,965 I would rather use the answer to the mean, as a measure of location for this data because I think the median answer is too low to portray the proper figures. #6 a. The Mean for the Data is 75.8 b. The median for the Data is 58.6 c. The mode for the data is 61.3 I don’t really think any of these number are good to portray the top U.S ports ranked by total tonnage because the high number 198.8 and the low 33.2 are not close enough to show the real distribution across the U.S ...
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