Examine the Given Data Set and Determine Whether the Requirement

question 56

Essay

Examine the given data set and determine whether the requirement of a normal distribution is satisfied. Assume that the requirement for a normal distribution is loose in the sense that the population distribution need not be exactly normal, but it must have a distribution which is basically symmetric with only one mode. Explain why you do or do not think that the requirement is satisfied.
-The ages of 30 students selected randomly from one college are as follows: $$\begin{array} { l l l l l } 21 & 23 & 20 & 24 & 20 \\19 & 20 & 19 & 22 & 32 \\20 & 24 & 26 & 21 & 37 \\23 & 18 & 34 & 25 & 30 \\22 & 24 & 23 & 19 & 28 \\20 & 29 & 21 & 35 & 25 \\20 & 21 & 28 & 22 & 32\end{array}$$

Appreciate the value and limitations of analyzing individual financial numbers.

Understand the principles and applications of financial leverage and its impact on equity returns.

Identify and apply principles of clear and precise writing.

Recognize and use specific versus general language for clarity.

---

Definitions:

Cost-plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to the cost of producing or purchasing the product.

Return on Investment

Return on investment is a measure used to evaluate the efficiency or profitability of an investment, calculated as net income divided by the initial cost of the investment.

Selling Price

The amount at which a product or service is offered to customers, factoring in costs, desired profit margins, and market conditions.

Absorption Costing

An accounting system that factors in all production costs—direct labor, direct materials, and both fixed and variable manufacturing overheads—into the pricing of a product.