Refer to the
[link] . Find the third quartile. What is another name for the third quartile?
The third quartile is the 75
th percentile, which is four. The 65
th percentile is between three and four, and the 90
th percentile is between four and 5.75. The third quartile is between 65 and 90, so it must be four.
Your instructor or a member of the class will ask everyone in class how many sweaters they own. Answer the following questions:
How many students were surveyed?
What kind of sampling did you do?
Construct two different histograms. For each, starting value = _____ ending value = ____.
Find the median, first quartile, and third quartile.
Construct a table of the data to find the following:
the 10
th percentile
the 70
th percentile
the percent of students who own less than four sweaters
A formula for finding the
k Th percentile
If you were to do a little research, you would find several formulas for calculating the
kth percentile. Here is one of them.
k = the
k
th percentile. It may or may not be part of the data.
i = the index (ranking or position of a data value)
n = the total number of data
Order the data from smallest to largest.
Calculate
If
i is an integer, then the
k
th percentile is the data value in the
i
th position in the ordered set of data.
If
i is not an integer, then round
i up and round
i down to the nearest integers. Average the two data values in these two positions in the ordered data set. This is easier to understand in an example.
Listed are 29 ages for Academy Award winning best actors
in order from smallest to largest. 18; 21; 22; 25; 26; 27; 29; 30; 31; 33; 36; 37; 41; 42; 47; 52; 55; 57; 58; 62; 64; 67; 69; 71; 72; 73; 74; 76; 77
Find the 70
th percentile.
Find the 83
rd percentile.
k = 70
i = the index
n = 29
i =
(
n + 1) = (
)(29 + 1) = 21. Twenty-one is an integer, and the data value in the 21
st position in the ordered data set is 64. The 70
th percentile is 64 years.
k = 83
rd percentile
i = the index
n = 29
i =
(
n + 1) = )
)(29 + 1) = 24.9, which is NOT an integer. Round it down to 24 and up to 25. The age in the 24
th position is 71 and the age in the 25
th position is 72. Average 71 and 72. The 83
rd percentile is 71.5 years.
k = 20. Index =
i =
(29 + 1) = 6. The age in the sixth position is 27. The 20
th percentile is 27 years.
k = 55. Index =
i =
(29 + 1) = 16.5. Round down to 16 and up to 17. The age in the 16
th position is 52 and the age in the 17
th position is 55. The average of 52 and 55 is 53.5. The 55
th percentile is 53.5 years.
You can calculate percentiles using calculators and computers. There are a variety of online calculators.
A formula for finding the percentile of a value in a data set
Order the data from smallest to largest.
x = the number of data values counting from the bottom of the data list up to but not including the data value for which you want to find the percentile.
y = the number of data values equal to the data value for which you want to find the percentile.
n = the total number of data.
Calculate
(100). Then round to the nearest integer.
Questions & Answers
differentiate between demand and supply
giving examples
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
