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Exercises 1 Week1

The document contains various exercises on measures of central location and dispersion, including calculations for annual profits, advertising expenditures, growth in endowment policies, overdrafts, and investment portfolios. Each exercise provides specific data and requires the determination of statistical measures such as mean, median, mode, standard deviation, and variance. Additionally, it includes a problem on calculating the average yearly percentage increase in international debt using both geometric and arithmetic means.

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Lehlabile Valentia
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9 views3 pages

Exercises 1 Week1

The document contains various exercises on measures of central location and dispersion, including calculations for annual profits, advertising expenditures, growth in endowment policies, overdrafts, and investment portfolios. Each exercise provides specific data and requires the determination of statistical measures such as mean, median, mode, standard deviation, and variance. Additionally, it includes a problem on calculating the average yearly percentage increase in international debt using both geometric and arithmetic means.

Uploaded by

Lehlabile Valentia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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EXERCISE 1 (on measures of central location and dispersion)

(1) The annual profits of 10 insurance companies in 2012 (in R1000 000s) are as follows:

36 16 25 59 76 28 35 47 55 22

Determine: (i) the modal annual profit

(ii) the median annual profit

(iii) the mean annual profit

(iv) the standard deviation

35+36
=35 . 5
Answers: (i) no mode (ii) 2 (iii) 3.90 (iv) 18.98

(2) The following figures represent the advertising expenditure (in R1000 000) of a real estate agent
over the past 11 years:

105 107 110 112 111 112 108 106 95 85 71

Calculate: (i) the mean deviation

(ii) the modal amount spent yearly

(iii) the median amount spent yearly

(iv) the standard deviation

Answers: (i) R10 million (ii) R112 million (iii) R107 million (iv) R13.15 million

(3) The annual growth (in R1000s) in an endowment policy based on Alan Gray shares from the year
2008 to the year 2012 are listed below:

18 67 24 55 21

(i) Determine the mean, median, and mode for the data.

(ii) Determine the range.

(iii) Determine the variance.

(iv) Determine the coefficient of variation.


Answers:

(i) mean = R37 000, median = R24 000, no mode; (ii) range = R49 000;

(iii) variance = 502.5; (iv) coefficient of variation= 60.59%

(4) The following data represents the overdrafts of twelve ABSA bank accounts (in R1000s):

108 91 120 77 53 101 91 65 83 44 92 88

Calculate: (i) the arithmetic mean

(ii) the median

(iii) the standard deviation

(iv) the mode.

Answers: (i) x̄ = 84.42; (ii) median = 89.5; (iii) s = 21.97; (iv) mode = 91

(5) The table below gives the total number of investment portfolios brokered by seven different
financial advisers working for First National Bank in the past four years.

Broker Number of portfolios


brokered

Smith 128

Schumpeter 143

Faku 87

Willemse 160

Keynes 110

Freidman 98

Zuma 135

Determine: (i) The mean number of portfolios brokered

(ii) The modal amount of portfolios brokered

Answers: (i) x̄ = 123; (ii) there is no mode.


(6) In 2011, the international debt of a certain ailing country increased by 10% in relation to what it
was in 2010. In 2012, this debt increased by 20% from its 2011 level.

(i) Use the geometric mean to calculate the average yearly percentage increase in the said country’s
international debt.

(ii) Repeat your answer to the question in (i) above using the arithmetic mean.

Answers: (i) G.M. = 14.89; (ii) arithmetic mean = 15%.

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