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snow_tiger [21]
2 years ago
6

A sample of 28 time shares in the Orlando, Florida, area revealed the following daily charges for a one-bedroom suite. For conve

nience the data are ordered from smallest to largest. Construct a box plot to represent the data. Comment on the distribution. Be sure to identify the first and third quartiles and the median. $116 $121 $157 $192 $207 $209 $209 229 232 236 236 239 243 246 260 264 276 281 283 289 296 307 309 312 317 324 341 353

Business
2 answers:
-Dominant- [34]2 years ago
8 0

Answer:

Explanation:

Minimun      116

Q1            224

Median    253

Q3            298.75

Maximum   353

median 253

range 237

marishachu [46]2 years ago
6 0

Answer: Median = 253, lower Quartile = 219, Upper quartile = 301.5

                                 

Explanation:

Minimum = 116

Mean = 253 = mean is the average daily charge. It is calculated by taking the total sum  Of charges and divide it by the number of days.

                     

Q1 = 219 = lower Quartile. Lower quartile represents the lower 25% of data

Q2 = 253= Median. Median represents the middle score/number. Median is used as a measure of central tendency of data.

Q3 = 301.5=Upper quartile. Upper Quartile represents 75% of data.

Maximum= 353  

The box and whisker graph is a graph that groups data into Quartiles.

The median is $253, that daily charge of $253 for the Bedroom suite Divides the data (Charges per day) into two halves namely the lower half and the upper half, $253 charge is in the middle.

The median is $253, The Lower quartile is $219 and the upper quartile 301.5, these values are painting a clear picture which shows us that that 75% of the Daily Charges for the Bedroom suite were about $219. The Box and Whisker Graph depicts that in most days the Charges were above $219 and higher, Hence the lower whisker is much longer than the upper whisker.  

The mean charge for one bedroom suite is equal to the median. The mean is also $253 meaning on average the cost of occupying the one bedroom suite was $253, with the Mean of $253 we can conclude that most daily charges for the bedroom suite are distributed around the mean of $253 hence the box and whisker graph is skewed towards the right side (the upper side) because with median of $253 already 50% of the daily charges are above $253

 

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Answer:

- $45000

Explanation:

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In the given case, Economic Profit = Revenues - Explicit costs - Implicit costs

Here, the implicit cost is $60,000 income foregone.

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7 0
2 years ago
The sales for​ January, February, and March are​ $150,000, $180,000 and​ $220,000, respectively. For any particular month of​ sa
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Answer:

Total cash= $193,000

Explanation:

Giving the following information:

Estimated sales ($):

January= $150,000

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40% in cash from that same month of​ sales

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10% in cash from the sales from two months ago

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Answer:

$10,400 Favorable

Explanation:

The computation of labor efficiency variance for June is shown below:-

For computing the labor efficiency variance for June first we need to find out the standard hours

Standard hours = 0.5 hours per unit × 3,100 units

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Now, we will put it into formula

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Therefore for computing the labor efficiency variance for June we simply applied the above formula.

7 0
2 years ago
During the year,Liptom Company made an entry to write off a $4,000 uncollectible account. Before this entry was made, the balanc
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Answer:

$55,500

Explanation:

The computation of the net realizable value after the write off entry is show below:

The credit balance in allowance with terms to bad debts is

= $4,500 - $4,000

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Now the net realizable value is

= ($60,000 - $4,000) - ($4,500 - $4,000)

= $56,000 - $500

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7 0
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True

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