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Assignment Week 1 (Jio Q1)

This document provides instructions for the first homework assignment in a business statistics course. It includes two problems analyzing real data on salaries and movie box office revenues using Excel. Descriptive statistics like mean, median, standard deviation, and interquartile range are calculated for the data sets.

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32 views

Assignment Week 1 (Jio Q1)

This document provides instructions for the first homework assignment in a business statistics course. It includes two problems analyzing real data on salaries and movie box office revenues using Excel. Descriptive statistics like mean, median, standard deviation, and interquartile range are calculated for the data sets.

Uploaded by

ambujdixit8021
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Business Statistics

Prof. Sharad Borle

Assignment Week 1

Grading Scheme

Maximum Points attainable across various problems is as follows,

HW1 a b c d e f Total
Problem 1 4 4 4 3 - - 15
Problem 2 3 3 3 3 4 4 20
Free points
Total 35

Please Note: This assignment is due by Thursday, May 9. You need to upload your
assignment on the course website.

You may do the assignment either individually or a group of not more than two persons. If
you do the assignment in a pair please make sure that you only submit one assignment for
both the persons, however make sure both names are written on the submitted assignment.

Please submit a single MS word file. If you wish to include excel graphs, please copy and
paste the graph in this single word file. Please write your name(s) on the submitted
assignment.

This first homework assignment (two problems) gives you practice using Excel to
summarize real data.

Assignment 1 1
Business Statistics

Prof. Sharad Borle

Problem 1

The file sfsalaries.xlsx contains the annual salaries of 560 employees from
various careers in San Francisco ($/year). It has four variables, BasePay,
OvertimePay, OtherPay and TotalPay where TotalPay = BasePay +
OvertimePay + OtherPay. Please note that the BasePay, OvertimePay and
OtherPay for employees are independent of each other.

(a) Report the descriptive summary statistics (mean, median, max, min, range,
standard deviation) of the TotalPay from the file.

(b) If the BasePay of all employees gets raised in the sample by 300 $/month
(without any increase in OvertimePay or the OtherPay), what would happen
to the mean, median and standard deviation of TotalPay in this data set?

(c) If everyone’s BasePay as well as OvertimePay and OtherPay is increased


by 3%, what would be the new mean, median, mode and standard deviation
of the TotalPay of these employees after the increase?

(d) What does your answer to parts (b) and (c) tell you about the mean, median
and standard deviation measure?

Problem 2

In this problem, you will analyze a data set consisting of a sample of 205
observations. These observations correspond to box office revenues of movies;
act as if the sales are given in dollars. (The data is de-seasonalized and re-
scaled, but you really don’t even need to know this: just act as if box office sales
are in dollars.) The data is in the spreadsheet called movie.xlsx.

(a) Calculate the range of the data.

(b) Graph the data in the form of an appropriate histogram.

Assignment 1 2
Business Statistics

Prof. Sharad Borle

(c) Calculate the mean and the median for the data. Explain why the mean is
greater than the median. (Hint: remember the incomes example, why the
mean is less useful there.)

(d) Calculate the standard deviation of the data, and the interquartile range.

(e) What fraction (percentage) of the data points falls within one standard
deviation of the mean? Within two standard deviations of the mean? How well
do your answers conform to the "rule of thumb"?

(f) Change the unit of measurement of sales (without changing the actual sales)
so that it is in thousands of dollars rather than dollars (i.e., create another
column with the sales information in ‘000 dollars and use this new column).
For example, the first movie would have the number 77.199 in this column.
How do your answers to parts (a) and (c) through (e) change? Does the
shape of histogram in part (b) change?

Assignment 1 3

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