# Market survey on the price of a product

Question 1 (25 marks)
Conduct a market survey on the price of a product (e.g., mobile phone, running
shoe, jean, potato chips, etc.) that you are interested in. You are required to collect
at least 6 records as follows:
No. Brand Model / Description Price (S\$) Source / URL
1
2
3
4
5
6
(4 marks)
Calculate
a) the mean, the median and the mode.
(5 marks)
b) the standard deviation.
(6 marks)
c) the coefficient of variation.
(3 marks)
d) the quartiles and interquartile range
(7 marks)
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Question 2 (25 marks)
a) The marketing manager wants to analyse the preference on action movie for his
customers. The following table shows a summary:
Preference
Yes No Total
Gender
Male 80 20 100
Female 30 70 100
Total 110 90 200
Find the probability that a randomly selected customer who:
i. likes action movie
ii. is male and like action movie
iii. is female or like action movie
(12 marks)
b) The salary of a sales manager is normally distributed with a mean of \$3500 and
standard deviation of \$420.
i. Find the probability that a randomly selected manager has a salary that is
between \$3,000 and \$4,200?
ii. If 20 managers are randomly selected, what is the probability that their
average salary exceeds \$3,750?
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