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Author Question: Approximately what proportion of the observations is greater than 476? What will be an ideal ... (Read 46 times)

ts19998

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on: Jun 24, 2018
Approximately what proportion of the observations is greater than 476?
 
  What will be an ideal response?

Question 2

The data in the time-series plot below represents monthly sales for two years of beanbag animals at a local retail store (Month 1 represents January and Month 12 represents December). Do you see any obvious patterns in the data? Explain.
 
  What will be an ideal response?


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sylvia

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Reply #1 on: Jun 24, 2018
Answer to Question 1

The value 476 is one standard deviation below the mean; hence the empirical rule implies that the area between 476 and the mean is approximately 0.68 / 2 = 0.34. Therefore the proportion of the observations greater than 476 is approximately 0.84.

Answer to Question 2

This is a representation of seasonal data. There seems to be a small increase in months 3, 4, and 5 and a large increase at the end of the year. The sales of this item seem to peak in December and have a significant drop off in January.


ts19998

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

pratush dev

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Reply 3 on: Yesterday
:D TYSM

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