North South University

BUS-511 (Business Statistics)

Section: 3 (MBA)

Submitted to:
Abdus Sattar, Ph. D.

Submitted by:
Nobonita Zaid Chowdhury
ID: 2115113

Submission date: 12.04.2021

 Answer to the question no. 1
a) i. Considering the given variables the types are given below:

Variables Types
Selling Price Quantitative
Number of Bedrooms Quantitative
Township Qualitative
Garage Qualitative

ii. Considering the given variables the Levels of Measurement are given below:

Variables Level of Measurement

Selling Price Ratio Level
Number of Bedrooms Ratio Level
Township Ordinal
Garage Ordinal

b)

Statistics
Township
N Valid 70
Missing 0

Frequency Distribution Table:

Township
Cumulative
Frequency Percent Valid Percent Percent
Valid Dhanmondi 9 12.9 12.9 12.9
Gulshan 14 20.0 20.0 32.9
Banani 13 18.6 18.6 51.4
Uttara 23 32.9 32.9 84.3
Niketan 11 15.7 15.7 100.0
Total 70 100.0 100.0

Interpretation:

There are five townships where the homes have been sold. The frequency distribution table provides the
depiction that highest (23) home was sold at Uttara Township. And the lowest (9) home was sold at
Dhanmondi Township.
Relative Frequency Distribution:

Frequency Relative Frequency

Valid Dhanmondi 9 0.1285
Gulshan 14 0.20
Banani 13 0.1857
Uttara 23 0.3285
Niketan 11 0.1571
Total 70 1.00

Interpretation:

Relative Frequency Distribution table provides the depiction of the percentage of the homes sold in the 5
townships. The highest, 32.9% home was sold in Uttara and the lowest, 12.9% home was sold in
Dhanmondi.

c) Class Number Determination: 27 = 128 (26 = 64 which is lower than 70), So, class number = 7
Class interval determination: Highest value – Lowest Value/class number = 349-129/7 = 31.5 ~ 40
(divisible by 10). So, class interval = 40
Frequency Distribution Table for Selling price of the homes:

Selling Price Frequency Cumulative x F*x Fx2

Frequency
100 to 140 1 1 120 120 14400
140 to 180 10 11 160 1600 256000
180 to 220 25 36 200 5000 1000000
220 to 260 18 54 240 4320 1036800
260 to 300 11 65 280 3080 862400
300 to 340 4 69 320 1280 409600
340 to 380 1 70 360 360 129600
15760 3708800

Mean = 15760/70
= 225.14
Median Class = (n/2)th value
= 70/2th
= 35th
So the median class is 36.
We know, Median = L+{(n/2-fc)/fm}*i
Here,
L = Lower limit of the Median Class = 180
n/2 = total frequency/2 = 35
fc = Cumulative Frequency (prior to the median class) = 11
fm = Frequency of the median class = 25
i = class interval = 40

So, Median = 180+ {(35-11/25)*40}

= 218.4
We know,
Mode = L+ {(f0-f1)/(f0-f1)+(f0-f2)}*i
Here,
L = Lower limit of the modal class = 180
f0 = Highest frequency = 25
f1 = Previous frequency of the highest one = 10
f2 = Following frequency of the highest one = 18
i = class interval = 40
So, Mode = 180+{(25-10)/(25-10)+(25-18)}*40
= 207.28
Variance, s2 = (∑x2 - ∑(x)2/n)/ n-1
= {3708800-(15760)2/70}/70-1
= 2326.8
Standard Deviation, s = √2326.8
= 48.24

Skewness of the selling price = 3(mean-median)/standard deviation

= 3(225.14-218.4)/48.24
= 0.42
So, selling prices have a weak positively skewed distribution.
d) SPSS has been used to find the below mentioned measures:

Statistics
Selling Price
N Valid 70
Missing 0
Mean 226.83
Median 214.00
Mode 192a
Std. Deviation 47.178
Variance 2225.796
Skewness .532
Std. Error of Skewness .287
Range 220
Minimum 129
Maximum 349
Percentiles 10 177.10
20 183.20
25 191.00
30 192.30
40 210.40
50 214.00
60 228.60
70 251.40
75 257.25
80 272.60
85 279.80
90 297.80
a. Multiple modes exist. The smallest
value is shown

Interpretation:

Mean = $226.83 thousand is the typical selling price of the homes.

Median = $214 thousand, which means 50% of the selling prices are below $214 and 50% are above it.
Mode = $192 thousand has mostly appeared in the data set. So most of the home’s price is $192thousand.
Skewness = 0.532 indicates weak positively skewed selling price.
Standard Dev = 47.178, indicates that the difference between selling prices of the homes and the
mean is greater.
Quartile = 25% of selling price are below $191 thousand rest 75% are above it, 50% of the selling price
are below $214 thousand rest 50% are above it and 75% of the selling price are below $ 257.25 thousand
rest 25% are above it.
Decile = 10% selling price are below $177.10 thousand and rest 90% are above it. 90% of the selling
price is below $297.80 thousand rest 10% are above it.
Percentile = 85% of the selling price are $279.80 thousand and rest 15% are above it.

Frequency Distribution Table for Selling Price

Cumulative
Frequency Percent Valid Percent Percent
Valid 100 to 140 1 1.4 1.4 1.4
140 to 180 10 14.3 14.3 15.7
180 to 220 25 35.7 35.7 51.4
220 to 260 18 25.7 25.7 77.1
260 to 300 11 15.7 15.7 92.9
300 to 340 4 5.7 5.7 98.6
340 to 380 1 1.4 1.4 100.0
Total 70 100.0 100.0

All the selling prices are in between $100 thousand to $380 thousand. 35.7% selling prices are in between
$180 thousand to $220 thousand.

e) The mean found in (c) is 225.14, which is calculated from grouped data (from the frequency distribution
table). And the mean found in (d) is 226.83, which is calculated from raw data set (from the 70 random
samples by using the SPSS). We know that the mean calculated from the raw data is more accurate. So, we
can say that the mean calculated in (d) is more appropriate.
f) As we know 95% of selling price is in between x bar + 2, so we can say that 90% selling price is in
between x bar + 2.

i. Selling price of homes in between Mean + 2S = 226.83 + 2(47.178) = $321.186 to $132.474 thousand.
ii. According to the Empirical rules the selling price between x bar and (x bar – 2S) is $226.83 to $132.474
thousand (34% + 13.5% = 47.5%)
Below x bar – 2S selling price of homes are below $132.474thousand (2.35% + 0.15% = 2.5%)

g) Outlier is an observation that is situated in an abnormal distance from the other values in a random
sample. It is basically the data that is different from the rest of the data.
Upper Outlier > Q3 + 1.5 (Q3-Q1)
> 257.25 + 1.5 (257.25-191)
> 356.625
Lower Outlier < Q1 - 1.5 (Q3-Q1)
< 191 – 1.5 (257.25-191)
< 91.625
Interpretation: There is no outlier in the data set of selling price.
 Answer to the question no. 2

Interpretation:
This bar diagram shows the numbers of homes sold in each township. Out of 70 homes the highest homes
sold are in Uttara (23). And the lowest homes sold are in Dhanmondi (9).
Interpretation:

The pie diagram shows the percentage of homes sold in each township. Highest homes have been sold in
Uttara (32.86%) and the lowest homes have been sold in Dhanmondi (12.86%).
 Answer to the question no. 3
a) Sample Size: 70

Senior Citizens: 18, 32, 33, 40, 45, 47, 53, 58, 70, 74, 77, 80, 80, 87, 88

Young Adults: 28, 31, 37, 40, 41, 42, 49, 50, 51, 55, 57, 59, 70, 84, 86

CV= Standard Deviation/Mean*100

CV Calculation:
Senior Citizens Young Adults
Standard Deviation: 21.60 Standard Deviation: 16.75
Mean: 58.8 Mean: 52.00
So, CV= 21.6/58.8*100 So, CV= 16.75/52.00*100
= 36.73% = 32.21%

Interpretation:
Comparison of variation between group of senior citizen and young adult is, 36.73%–32.21%= 4.52%
So, the variation of CD Music owned by the Senior Citizens are 4.52% more than the CD Music owned
by Young Adults.

b) i. Lower quartile, Q1= (n+1)/4th

= 4th position
= 40

Interpretation:
25% of the young adults have less than 40 CD and 75% have above 40.

Upper quartile, Q3= 3(n+1/4)th

= 12th position
= 59
Interpretation:
75% of the young adults have less than 59 CD and 25% have above 59.
ii. 3rd Decile, D3= 3(n+1)/10th
= 4.8th position
4.8th Position= 4th Position + 0.8th Position
= 40+0.8(41-40)
= 40.8
Interpretation:
30% of the young adults have less than 40.8 CD Music and 70% of them have more than that.

iii. Inter Quartile Range, IQR= Q3-Q1

= 59-40
= 19
Interpretation:
19 is the middle 50% of the number of CD Music owned by the Young Adults.

iv. Computation of appropriate measure of central tendency

Median = (n+1)/2th number
= 8th number
= 50
Interpretation:
The extremely middle value of the number of CD Music owned by the Young Adults is 50.
 Answer to the question no. 4

Student: Nobonita Zaid Chowdhury Letter grade Grade Points

I.D: 2115113
Semester: Summer, 2020 A 4.0
University: North South University
A- 3.7

B+ 3.3

B 3.0

B- 2.7

Semester 1
Subject Credits Letter Grade Grade Points Calculation
Business Math 3 B+ 3.3 9.9
Business 3 B 3 9
Statistics
Microeconomics 3 B+ 3.3 9.9
Total 9 28.8
GPA 3.2

Semester 2
Subject Credits Letter Grade Calculation
Grade Points
Macroeconomics 3 B 3 9
Business 3 A- 3.7 11.1
Communication
Research 3 B+ 3.3 9.9
Methodology
Total 9 30
GPA 3.33333333

CGPA
Calculation
Semester GPA CGPA
1 3.2
2 3.3
6.5 3.25

Answer: GPA: Sem 1_ 3.2 and Sem 2_ 3.3. and CGPA is 3.25.