MA215 W1A

 ***DUE IN 6 HRS***

Week 1 Assignment

Question 1

The following information regarding the ten richest Americans was reported in a recent issue of Forbes.

1. How does the textbook define “element?” Name the elements in the above data set.
2. How does the textbook define “variable?” Name the variables in this data set.
3. How does the textbook define “observation?” Name TWO observations in this data set.
4. Explain why rank, even though it is a number, is NOT a quantitative variable.
5. Which variables are quantitative?

Question 2

A sample of the ages of 10 employees of a company is shown below.

20 30 30 30 50
30 30 30 20 40

1.  What is a dot plot?

2.  If this set of data were going to be used to make a dot plot, what variable would be on the x axis?  Why?  What variable would be on the y axis?  Why?

3.  If you were going to make a dot plot, what would the title be?  Remember that titles show relationships between both variables.

4. Using a method of your choosing, construct a dot plot for the above data which includes a proper title and axis labels.

Question 3

The following data shows the price of PAO, Inc. stock over the last eight months.

Month

Price ($)

1

1.82

2

1.85

3

1.86

4

1.91

5

1.97

6

2.00

7

2.01

8

2.08

1. Develop a scatter diagram and draw a trend line through the points.  Remember everything that was said about titles, axes labels etc. in the previous question.
2. What kind of relationship exists between stock price and time (negative, positive, or no relation)?  How do you know?