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Unit 3: Business Statistics–Instructor GradedProject Business Math You must show your work on all problems. You may type your answer right into this document. Total points for project: 45 points. Projects must be submitted as a Microsoft Word documen

Unit 3: Business Statistics–Instructor GradedProject Business Math You must show your work on all problems. You may type your answer right into this document. Total points for project: 45 points. Projects must be submitted as a Microsoft Word documen

Unit 3: Business Statistics–Instructor GradedProject

Business Math

 

You must show your work on all problems.  You may type your answer right into this document.

Total points for project:  45 points.

Projects must be submitted as a Microsoft Word document and uploaded to the Dropbox for Unit 3.
All Projects are due by Tuesday at 11:59 PM ET of the assigned Unit.

NOTE: Project problems should not be posted to the Discussion threads. Questions on the project problems should be addressed to the instructor by sending an email or by attending office hours.

Part I.   Basic Computations

 

  1. Monthly sales in thousands of dollars for women’s dresses at a local department store for last year were:

Jan:  $125

Feb: $214

Mar: $236

Apr:  $801

May:  $595

June: $550

July:  $645

Aug:  $732

Sep:  $1030

Oct: $880

Nov:  $985

Dec:  $1750

 

a.       Determine the mean monthly sales, rounded to the nearest whole thousand (4 points)

Answer:

 

 

b.      Determine the median monthly sales?  (3 points)

Answer:

c.       Determine the mode? (3 points)

Answer:

 


 

  1. The data below shows the number of games played by a group of college volleyball players.


Name

GamesPlayed

J. Rath

82

L. Patrone

68

S. Kandefer

110

J. Waldron

119

E. Braun

124

A. Street

116

B. Rowan

113

A. Pinak

67

L. Schwach

133

B. Smith

131

M. Lesser

124

K. O’Connor

18

V. Petko

110

R. Moore

127

K. Cooper

135

Name

GamesPlayed

C. Worth

113

A. Baker

113

A. Kamsch

76

M. Springer

154

C. Sullivan

67

J. Pike

52

A. DiPoala

143

K. Parish

18

C. Schiavello

112

J. Brown

41

S. Jokajtys

81

E. Amand

45

L. Kraft

81

K. Sessions

52


 

Create a frequency distribution for the number of games played, using the intervals shown.  Compute the frequency and relative frequency.

Range

Frequency
(5 points)

Relative Frequency
(5 points)

< 44

 

 

45 – 69

 

 

70 – 84

 

 

85 – 99

 

 

100 – 114

 

 

115 – 129

 

 

130 – 144

 

 

> 145

 

 

 


Part II.  Case Study

  1. A small fullfillment company provides promotion services to local businesses that offer mail-in offers to their customers.  For example, a soft-drink manufacturer might decide to offer a free beach towel to their customers who purchase 5 of their 1-liter soft drink bottles.   The fulfillment company will store all the beach towels in a big warehouse.  The customer is instructed on the mail-in offer to send their proof-of-purchase to the fulfillment company.  The fulfillment company handles all the shipping and handling of the beach towels and sends the products directly to the customers. 

    The fulfillment company employs 20 people with the following annual salaries:

$145,000 – President

$ 110,000 – Vice president

$  80,000 – Sales Manager

$  65,000 – Production Manager

$  30,000 – Warehouse Supervisor –

$  18,000 – Four shipping clerks

$  20,000 – Loading Dock Supervisor

$  17,000 – Ten warehouse laborers

 

a.       (5 points) Calculate the mean, median, and mode for the salaries.

Answer: 

 

 

(5 points)   The statistic most often used to describe company salaries is the median or the mean.  For this company, does the mean give an accurate description of the salaries?  Why or why not?
Answer: 

b.      (5 points)   Which statistic would this company’s labor union representative be most likely to cite during contract negotiations and why? 
Answer: 

c.       In addition to promotion services support, the company also fulfills “Direct Sales” of small items such as magazines and consumer items.   Shown below are some graphical and summary data showing total sales for the last 3 years.

 

Direct Sales

Promotions

Average (per quarter)

$343,158

$300,000

Standard Deviation

$213,232

$141,771

                   

 

(10 points) Analyze this data by comparing and contrasting the two graphical representations and the numerical statistics regarding the sales data.  Using the evidence from above, explain in a well-structured essay the benefits and shortcomings of both the column chart  and the line graph.    Do you think that this company is doing well in generating sales revenue?
Requirements

          Write your essay in this document – do not save it in a separate file.

          You must clearly state your position with well-structured paragraphs using proper grammar, spelling, and sentence structure.

          This is not an “opinion” question – you must offer evidence to support your position, using properly-cited sources

          Your answer must be between 150-250 words (about 1 page of text)

          You must cite at least one source (book, website, periodical) using APA format.

          Do not use unreliable sources such as Wikipedia, and Yahoo! Answers.

 

Answer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Students in MM255 may submit their projects to the Math Center for review. Tutors will not grade or correct the project, but they will provide guidance for improvement. 

 

Students should submit assignments early enough to receive feedback and make corrections before the project due date (24 hour turn-around times Monday-Thursday and 48 hour turn-around times on weekends are typical). 

 

Email projects to: kumc@kaplan.edu.  Please put “project review” in the subject line of the message.

 

 


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