What quantity would you use for the lower limit of the initial class?

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Dec 8, 6:19 AM
ECON 2203 Statistics for Business and Economics
How many classes would you propose?
What class interval would you suggest?
What quantity would you use for the lower limit of the initial class?
Using your responses to parts (a), (b), and (c), create a frequency distribution.
Describe the shape of the frequency distribution.

Compute the geometric mean of the following weekly percent increases: 2, 8, 6, 4, 10, 6, 8, and 4.

Berdine’s Chicken Factory has several stores in the Hilton Head, South Carolina, area. When interviewing applicants for server positions, the owner would like to include information on the amount of tip a server can expect to earn per check (or bill).
What is the probability of a tip of $200 or more?
Are the categories “$0 up to $20,” “$20 up to $50,” and so on considered mutually exclusive?
If the probabilities associated with each outcome were totaled, what would that total be?
What is the probability of a tip of up to $50?
What is the probability of a tip of less than $200?

The Bank of Hawaii reports that 7% of its credit card holders will default at some time in their life. The Hilo branch just mailed out 12 new cards today.
How many of these new cardholders would you expect to default? What is the standard deviation?
What is the likelihood that none of the cardholders will default?
What is the likelihood at least one will default?

A study of phone calls made from General Electric Corporate Headquarters in Fairfield, Connecticut, revealed the length of the calls, in minutes, follows the normal probability distribution. The mean length of time per call was 4.2 minutes and the standard deviation was 0.60 minute.
What is the probability that calls last between 4.2 and 5 minutes?
What is the probability that calls last more than 5 minutes?
What is the probability that calls last between 5 and 6 minutes?
What is the probability that calls last between 4 and 6 minutes?
As part of her report to the president, the director of communications would like to report the length of the longest (in duration) 4% of the calls. What is this time?

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