You have been given the following histogram (provided) relating to amounts paid for a sample of families. You need to critically review the drawing of this histogram.

You have been given the following histogram (provided) relating to amounts paid for a sample of families.  You need to critically review the drawing of this histogram.

(ii) Draw an alternative histogram using the data in the following table (provided) and comment on the shape of the data, and what this shape means in terms of its effect on the mean and median.

 

2. You need to briefly explain the following terms, using examples that are relevant to the scenario provided

 

• Nominal Data
• Ordinal Data

You must write your explanations in your own words.

 

Part 2

1. Determine by using a spreadsheet model and drawing an ogive, a variety of averages and measures of dispersion to include the mean, standard deviation, median, Q1, Q3, SIR, min, max and range.  Place all of these calculated values in a suitable table and include this in your report, along with a copy of your ogive, which is the ONLY method that you should use to arrive at the values for the median, Q1 and Q3.

All calculations (no matter how simple) should be done on and by the spreadsheet.Formulae in your spreadsheet will be checked.

2. A colleague who has access to the raw data has calculated the mean as £390.  Compare this value with the one you calculated in (a) above and fully explain why this value is different.  You will be expected to include a simple example to help your explanation.

3. Answer the following questions about your results (use your answers above as examples to explain your following answers if you need to):

-What is generally the difference between the mean and the median (use your own words) and which one should you be using with this data?Use examples to help with your explanations.

– Using your ogive, what percentage of people paid less than £475 and up to how much did 60% of people pay?  Fully explain how you arrived at your answer, and include a new copy of your ogive clearly showing these values, in your report.

Part 3

You have been asked to forecast the number of families that will visit the theme park for the 4 quarters of 2018.

1. The following graph (provided) relates to the number of families that have visited the theme park over the last 4 years, and shows the actual values and the trend line.  Copy this graph into your solution document and add 3 correctly labeled projected trend lines.  Read off the projected trend values for the 4 quarters for 2018, putting them in a suitable table.
2. Briefly explain why these values are not forecasts.
3. Which model is this data presenting – explain your answer.