a) A wedding photographer made $500 on average in the 5 years it has been operational. A sample of 12 months were analyzed and it was found that he made an average of $620. i. Does the value $500 refer to the parameter or to the statistic?  ii. Is the value $620 a parameter or a statistic?  iii. State two advantages of using a sample statistic rather than a parameter.  b) For each the following variables, state which is quantitative and which is qualitative. If it is quantitative, state whether it is discrete or continuous. i. The amount of flour added to bake a pie  ii. The temperature of a glass of milk  iii. The addresses of all patients at a dental office  c) Choose the level of measurement described below i. Rate how satisfied are you with your customer service (ordinal, interval)  ii. The distance Madison runs every morning (interval, ratio)  iii. The Magazine that sells the most copies in a month (nominal, ordinal)

Question 1 

a) A wedding photographer made $500 on average in the 5 years it has been operational. A sample of 12 months were analyzed and it was found that he made an average of $620.

i. Does the value $500 refer to the parameter or to the statistic? 

ii. Is the value $620 a parameter or a statistic? 

iii. State two advantages of using a sample statistic rather than a parameter. 

b) For each the following variables, state which is quantitative and which is qualitative. If it is quantitative, state whether it is discrete or continuous.

i. The amount of flour added to bake a pie 

ii. The temperature of a glass of milk 

iii. The addresses of all patients at a dental office 

c) Choose the level of measurement described below

i. Rate how satisfied are you with your customer service (ordinal, interval) 

ii. The distance Madison runs every morning (interval, ratio) 

iii. The Magazine that sells the most copies in a month (nominal, ordinal) 

Question 2 

A small Fashion Boutique sells its clothing in four size categories: Baby, Toddler, Big Kids and Adults. All the clothes are on a clothing Rack but are not organised by size. The manager wants to select a sample of 30 items of clothing to determine the average price per clothing item.

i. Identify the sampling techniques suggested by each of the methods A, B, C and D A Number each outfit and select according the number you obtain when you dip in a bag 

B Select a number of outfits from each size category in proportion to the total number of clothing item in that size. 

C Select every 5th off the rack until a sample of 30 is selected.

D Select the first 30 outfits off the rack. 

ii. State one advantage of sampling method B 

iii. State one disadvantage of sampling method D 

Question 3 

a) The following stem-and leaf display of the dividend yields ($) for common stocks

                                               Stem-and-Leaf Display

N = x                                                                   Leaf Unit = 1.0
5         2    33444
11       2    668899
(14)    3     00112223344444
y        3      56778899
12     4       0002344
5       4        66789
i. Determine the value of x and y. 
ii. What is the value of the median? 
iii. Find the modal yield of this data set. 

b) The table below is based on the Stem and leaf diagrams showing dividend yields ($) for
common stocks

Dividend Yielded ($) Frequency
20-24                            5
25-29                            6
30-34                           14
35-39                             x
40-44                             7
45-49                             5

i. Use the stem and leaf diagram in 3a) to determine the value of x. 
ii. Using the table above to calculate
a) the sample mean of the dataset. 
b) the mode of the dataset. 
c) the sample variance of the dataset.