College of Business and Economics

Department of Economics

Introduction to Statistics Course Code: Econ 2041

Level of Students: 2nd year ® Academic Year 2022-2023
Max. Marks: 20% Submission Date: 7 February, 2023

Instructions
 Attempt to answer all questions clearly!
 You should submit your assignment on the deadline!
 READ instructions carefully!
 Your hand writing should be readable (good handwriting is expected)
 Duplication of assignment will result zero grade.
 Maximum number of group member is 4 students

 Discuss briefly the following questions accordingly and show each steps for the workout
questions!
1. True or False (2 points)
a) The scale of measurement of a variable is a nominal scale when data are labels to identify
an attribute of the element.
b) The summary numbers for either a population or a sample are called descriptive statistics.
c) Learning statistics does not help to improve processes.
d) The statistical method used to summarize data depends upon whether the data are
qualitative or quantitative.
e) We cannot construct frequency distribution tables for nominally or ordinally scaled data.
f) The classes in any frequency distribution are all-inclusive and mutually exclusive.
g) Data from Central Statistical Agency, National Bank and Planning Commision are
classified as secondary type of data.
h) Inferential statistics help in generalizing the results of a sample to the entire population.
2. State whether each of the following variables is qualitative or quantitative and indicate the
measurement scale (nominal, ordinal, interval, and ratio) that is appropriate for each. (2 points)
a) Age
b) Gender
c) Class rank

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 d) Annual sales
e) Marital status (Single, Married, Divorced, Separated, Widow/widower, Remarried)
f) Soft-drink size (small, medium, large)
g) Earnings per share
h) Method of payment (cash, check, credit card)
3. The following data represent the expenditure incurred on following heads by a company during
the year 2002

Expenditure Head Amount (Rs in lakh)

Raw materials 1,689
Taxes 582
Manufacturing
expenses 543
Employees salary 470
Depreciation 94
Dividend 75
Misc. expenses 286
Retained income 51

a) Construct a bar chart and pie chart. ( 2 points)

4. From the data set lists the prices (in dollars) of 30 portable global positioning system (GPS)
navigators, construct a frequency distribution that has seven classes. (1 point )

90 130 400 200 350 70 325 250 150 250

275 270 150 130 59 200 160 450 300 130
220 100 200 400 200 250 95 180 170 150

5. Determine whether each of the following random variables is categorical or numerical. If it is

numerical, determine whether the phenomenon of interest is discrete or continuous. (2 points)
a) Number of persons in the household who use the personal computer
b) Amount of money spent on clothing in the last month
c) Favourite shopping centre.
d) Amount of time spent shopping for clothing in the last month
6. Calculate the mean for the following age distribution. ( 2 points)
class Frequency
6-10 35
11-15 23
16-20 15

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 21-25 12
26-30 9
31-35 6

7. In a factory employing 3000 persons, 5 percent earn less than Br. 150 per day, 580 earn from Br.
151 to Br. 200 per day, 30 percent earn from Br. 201 to Br. 250 per day, 500 earn from br. 251 to
br. 300 per day, 20 percent earn from Br. 301 to Br. 350 per day, and the rest earn Br. 351 or more
per day. What is the median wage? (3 points)
8. The wholesale prices of a commodity for seven consecutive days in a month is as follows:

 Calculate the variance and standard deviation. (3 points)

9. For the data given below, compute the quartiles, D3, D7, P15, and P88 and interpret the
results(3 points).
Marks 1-10 11-20 21-40 41-60 61-80 Above 80
frequency 10 15 25 30 14 6

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