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Median daily turnover of fish shop

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Reference no: EM13990061

A fish shop owner recorded the daily turnover of his outlet for 300 trading days as shown in the frequency table.

Daily turnover

Number of days

500 - 750

15

750 - 1 000

23

1 000 - 1 250

55

1 250 - 1 500

92

1 500 - 1 750

65

1 750 - 2 000

50

(a) Compute and interpret the (approximate) average daily turnover of the fish shop. (Hint: Use the weighted average formula, with the midpoint of each interval as xi.)

(b) Find the median daily turnover of the fish shop. Interpret its meaning.

(c) What is the modal daily turnover of the fish shop?

(d) Find the maximum daily turnover associated with the slowest 25% of trading days.

(e) What daily turnover separates the busiest 25% of trading days from the rest?

Reference no: EM13990061

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