Data Analysis, Probability, and Statistics
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The yearly revenue over 10 years of a company is given by the following graph.
Using the graph, determine the approximate revenue in the year 2004.
Explanation
The question asks for you to find the revenue in the year 2004. The horizontal axis is labeled "Year," so look there first to find where the label for 2004 is.
Tracing upwards, you will see that the value 2004 corresponds to a value of about 16 on the vertical axis. Since the label for the vertical axis is "Dollars in Millions," this means that the revenue in 2004 was 16 million dollars.
In numerical form, 16 million dollars is $16,000,000.
Researchers performed a survey of the populations of several small islands. The data is represented by the following histogram.
What percentage of islands surveyed had a population of less than 140?
65%
35%
30%
0%
55%
Explanation
On the horizontal axis of a histogram, you have labels representing ranges of values. For example, the label "140–159" represents the range of islands with populations between 140 and 159.
The question asks for the percent of islands with populations under 140. The ranges that are smaller than 140 are the "120–139" range and the "100–119" range. Match the bars of each with the percents on the vertical (y) axis. The percents corresponding to these ranges are 35% and 30%, respectively.
Adding both of these percents yields the answer, 65%.
Researchers performed a survey of the populations of several small islands. The data is represented by the following histogram.
What percentage of islands surveyed had a population of less than 140?
65%
35%
30%
0%
55%
Explanation
On the horizontal axis of a histogram, you have labels representing ranges of values. For example, the label "140–159" represents the range of islands with populations between 140 and 159.
The question asks for the percent of islands with populations under 140. The ranges that are smaller than 140 are the "120–139" range and the "100–119" range. Match the bars of each with the percents on the vertical (y) axis. The percents corresponding to these ranges are 35% and 30%, respectively.
Adding both of these percents yields the answer, 65%.
Researchers performed a survey of the populations of several small islands. The data is represented by the following histogram.
What percentage of islands surveyed had a population of less than 140?
65%
35%
30%
0%
55%
Explanation
On the horizontal axis of a histogram, you have labels representing ranges of values. For example, the label "140–159" represents the range of islands with populations between 140 and 159.
The question asks for the percent of islands with populations under 140. The ranges that are smaller than 140 are the "120–139" range and the "100–119" range. Match the bars of each with the percents on the vertical (y) axis. The percents corresponding to these ranges are 35% and 30%, respectively.
Adding both of these percents yields the answer, 65%.
Determine the linear regression line for the following paired data:
Explanation
The formula for a regression line for a set of paired data is the line of the equation
,
where
and
.
, the number of pairs.
is the sum of the
values:
is the sum of the
values:
is the sum of the squares of the
values:
is the sum of the
products:
Substituting:
and
are the arithmetic means of the
and
values, respectively - the sums divided by the number of values:
The linear regression line is the line of the equation .
Consider the following data set:
where is an integer from 1 to 10 inclusive.
How many possible values of make 5 the median of the set?
Six
Four
Ten
One
Zero
Explanation
The median of a set of eleven data values - an odd number - is the value that appears in the middle when the values are ranked. For 5 to be the median, 5 must be in the middle - that is, five values must appear before 5, and five values must appear after 8.
We can answer this question by looking at three cases.
Case 1:
Without loss of generality, assume ; this reasoning holds for any lesser value of
. The data set becomes
,
and the median is 4.
Case 2:
The data set becomes
The middle value - the median - is 5.
Case 3:
Without loss of generality, assume ; this reasoning holds for any greater value of
. The data set becomes
Again, the median is 5.
Therefore, we can set equal to 5, 6, 7, 8, 9, or 10 - any of six different values - and make the median of the set 5.
The revenue of a small company over 10 years is portrayed by the following line graph.
Which of the following statements can best be made about the data?
The company's revenue generally decreased from 1994 to 1996.
The revenue in the 10 years was generally decreasing each year.
The revenue in the 10 years was generally increasing each year.
The company had the highest revenue in the year 1994.
The company's revenue increased from 1991 to 1993.
Explanation
The question asks you to identify a trend that best fits the data.
Over 10 years, the revenue of the company decreases and increases with no clear overall pattern or trend, so the answers claiming that there is a general increase or decrease are incorrect.
While the revenue was at a high point ($65,000) in the year 1994, it was not the highest point in the 10 years. The highest point was in 1998, with a revenue of $77,000.
While the revenue did increase from 1991 to 1992, it decreased by even more from 1991 to 1993. Therefore, from 1991 to 1993, there was actually a net decrease in revenue, not a net increase.
The correct answer is: "The company's revenue generally decreased from 1994 to 1996." Notice the data points matching the years 1994, 1995, and 1996 are linked by a line that has a downward slope. This indicates a general decrease in revenue.
What is the probability that a person will roll an even number on a six-sided fair die?
Explanation
In order to solve this problem, we need to discuss probabilities. A probability is generally defined as the chances or likelihood of an event occurring. It is calculated by identifying two components: the event and the sample space. The event is defined as the favorable outcome or success that we wish to observe. On the other hand, the sample space is defined as the set of all possible outcomes for the event. Mathematically we calculate probabilities by dividing the event by the sample space:
The die has six sides with the following values: one tow, three, four, five, and six. Of these values the die has three that are even: two, four, and six. We can write the following probability.
Simplify.
Now, let's convert this into a percentage:
If I have quarters, what is the probability that I will get no more than
heads?
Explanation
Step 1: If we have 3 quarters and each quarter has two outcomes, then there are total outcomes that can come out of all of the rolls of the quarters.
Those rolls are:
HHH, HHT, HTH, THH, THT, TTH, TTT, HTT.
Step 2: Determine how many outcomes have no more than heads....
We cannot count HHH because it has heads.
We also cannot count TTT because it has no heads at all.
Step 3: We had options and we can't take
options..so we have a total of
options left.
The yearly revenue over 10 years of a company is given by the following graph.
Using the graph, determine the approximate revenue in the year 2004.
Explanation
The question asks for you to find the revenue in the year 2004. The horizontal axis is labeled "Year," so look there first to find where the label for 2004 is.
Tracing upwards, you will see that the value 2004 corresponds to a value of about 16 on the vertical axis. Since the label for the vertical axis is "Dollars in Millions," this means that the revenue in 2004 was 16 million dollars.
In numerical form, 16 million dollars is $16,000,000.