City Planners Wanted to Know How Many People Lived in a Typical

question 32

Essay

City planners wanted to know how many people lived in a typical housing unit so they compiled data from hundreds of forms that had been submitted in various city offices. Summary statistics are shown in the table. $$\begin{array} { | c | c | } \hline \bar { x } & 2.53 \text { people } \\\hline s & 1.40 \text { people } \\\hline \text { min } & 1 \\\hline \text { Q1 } & 1 \\\hline \text { median } & 2 \\\hline \text { Q3 } & 3 \\\hline \max & 10 \\\hline\end{array}$$
a. Notice that the minimum occupancy and the first quartile are the same. Explain how this can be.
b. The city classifies residences housing 4 or more people as "high occupancy". Would you consider 4 occupants to be unusually high? Explain.
c. The city bases their garbage disposal fee on the occupancy level of the home or apartment. The annual fee is $40 plus $5 per person, so a single occupant pays $45 and the homes with 10 people pay $\$ 40 + \$ 5 ( 10 ) = \$ 90$ a year. What is the median fee paid? And the IQR?
d. What are the mean and standard deviation of the garbage disposal fees?

Analyze the significance of accounting cycles, accrual accounting, and the timing of revenue recognition.

Understand and apply the concept of dividends and their impact on shareholder wealth.

Analyze the effects of stock transactions across different points in time, including the purchase, sale, and dividends received.

Calculate the total dividend income based on shares held and dividend policies.

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Definitions:

Hydrolysis

A chemical reaction in which water breaks down another compound, splitting it into two or more substances.

3-Heptanone

An organic compound that is a ketone with seven carbon atoms, where the carbonyl group is located at the third carbon.

Propanal

An aldehyde with the chemical formula C3H6O, characterized by a three-carbon chain with a terminal carbonyl group.

Chromic Acid

An oxidizing agent made by dissolving chromium trioxide in water or by dissolving dichromate salts in sulfuric acid, used primarily in cleaning laboratory glassware and in certain oxidation reactions.