A Random Sample of 60 Students in the Business Statistics

question 88

Essay

A random sample of 60 students in the business statistics course answered a survey on the average number of hours they spent on statistics each week.Unfortunately,the original data were lost and all that remains is the frequency table below.From these data,calculate the estimated sample standard deviation. $\begin{array}{cccccc}\text { Class } & \text { Hrs } & \text { N } & \text { Midpt } & \text { fM } \\1 & 0-3 & 18 & 1.5 & 27 \\2 & 4-7 & 16 & 5.5 & 88 \\3 & 8-11 & 14 & 9.5 & 133 \\4 & 12-15 & 10 & 13.5 & 135 \\5 & 16-19 &\underline { 2} & 17.5 & \underline {35}\\&&60&&418\\\end{array}$

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Definitions:

Par

The face value of a bond or stock, representing the amount the issuer agrees to pay at maturity (for bonds) or the value attributed to a share for accounting purposes.

Market Rate

The prevailing interest rate that is available in the marketplace for loans or investments of a similar risk level and maturity.

Present Value Tables

Tables that provide the factors required to calculate the present value of future cash flows or income.

Semiannually

Occurring or payable twice each year.