This website uses cookies to ensure you have the best experience.

# Principles Of Satistics: Worlds Richest People Case Study

669 words - 3 pages

Module 2 – Organizing and Describing Data
Written Assignment 2 - In your own words, interpret the data and note the shape of the distribution of the data provided from Case Study: World's Richest People (Chapter 2, p. 36).

Sample | Category | Frequency per Category | Rel. frequency per category (%) |
Citizenship | Mexico | 1 | 4.00% |
| United States | 14 | 56.00% |
| Spain | 1 | 4.00% |
| Hong Kong | 2 | 8.00% |
| France | 2 | 8.00% |
| Sweden | 1 | 4.00% |
| Germany | 1 | 4.00% |
| India | 1 | 4.00% |
| Italy | 1 | 4.00% |
| Canada | 1 | 4.00% |

From the frequency distribution table listed above, the country with the largest amount of the world’s richest people is the United States with 56% of the world’s richest people. It also shows that of the countries that have one of the world’s richest people, 7 out of 10 of the ...view middle of the document...

Using a histogram shows the view of the data and what type of distribution is used. A stem-and-leaf plot starts at 1 and moves up to 9 showing a distinct right skew. A histogram begins with the fist age range in which the youngest individuals fall in to. This plot shows a left skewed distribution however it is harder to see. You can also see the range of 60 to 79 year old people have the most number of world’s richest and based on the United State having 56% of the world’s richest most of people in those ranges are from the United States.
Using the data from the stem-and-leaf plot we can extract the actual ages of all the world’s richest people and find the sample mean and median of the data. The sample median is found highlighted below.
39 40 49 55 56 57 58 63 64 65 65 68 69 71 73 73 77 77 79 82 84 85 88 90 93
The sample mean () can be found by adding up all the ages and dividing by the number of people or the world’s richest people.

The median of the sample tells us that the middle age of all the world’s richest people is 69, and the average age or sample mean age is 68.8 years old.
Using the sample standard deviation below from the data from the stem-and-leaf plot and the sample mean we find that sample standard deviation is 14.66 from the sample mean of the data and based on the histogram the data falls in line with a left skewed distribution.
x |
| x- |   |
39 | -29.80 | 888.04 |
40 | -28.80 | 829.44 |
49 | -19.80 | 392.04 |
55 | -13.80 | 190.44 |
56 | -12.80 | 163.84 |
57 | -11.80 | 139.24 |
58 | -10.80 | 116.64 |
63 | -5.80 | 33.64 |
64 | -4.80 | 23.04 |
65 | -3.80 | 14.44 |
65 | -3.80 | 14.44 |
68 | -0.80 | 0.64 |
69 | 0.20 | 0.04 |
71 | 2.20 | 4.84 |
73 | 4.20 | 17.64 |
73 | 4.20 | 17.64 |
77 | 8.20 | 67.24 |
77 | 8.20 | 67.24 |
79 | 10.20 | 104.04 |
82 | 13.20 | 174.24 |
84 | 15.20 | 231.04 |
85 | 16.20 | 262.44 |
88 | 19.20 | 368.64 |
90 | 21.20 | 449.44 |
93 | 24.20 | 585.64 |
|
|   | |
| | = 5156.00 |
|
| = 68.8 | |

## Other Papers Like Principles of Satistics: Worlds Richest People Case Study

### Case Study of Ikea

760 words - 4 pages Case Study of Ikea • How does IKEA generate customer loyalty? As we leaned, Customer loyalty is a deeply held recognition for a company, they re-buy or re-patronize a preferred product or service by the company. IKEA obtains customer loyalty successfully by constantly maximizing customer price and minimizing customer costs. Firstly, Ikea offer a unique value proposition to their consumers: leading-edge Scandinavian design at extremely

### Case Study of Coke

4537 words - 19 pages PEST CASE STUDY: COCA COLA PEST analysis examines changes in a marketplace caused by Political, Economical, Social and Technological factors. Look at the following statements abstracted from various sources, and group them under the following headings: Political; Economic; Social; Technological After the shock of the attacks on September 11, 2001, and despite the debilitating effect of the Iraq War, the USA’s economy had returned to

### Study the Case of Wolfgang

2795 words - 12 pages Study the Case of Wolfgang's Balancing Act International HRM ‘Wolfgang’s Balancing Act’ Case Study   Task 1 Cultural contingencies that shape employee behavior in Healthcare As the world becomes more interdependent, the business and the process of doing business are exposed to many, continuously changing dimensions, structures and opposing forces. In a global environment, culture is a critical factor whereby the process of advancing

### Case Study of Southwest Airlines

4102 words - 17 pages Week- 3 Case study On Components of Multinational Environment- Bangladesh Submitted by: Niraj Kharel MBA 4th trimester Business Strategy Introduction Bangladesh is emerging as a country capable of producing advanced products like pharmaceuticals, ships and electronics. The world’s eighth largest country in terms of population with approximately 160 million inhabitants will most likely remain heavily dependent on labor-intensive and

### Case Study of Ben&Jerry

1069 words - 5 pages FIN 689 Ben & Jerry’s Homemade Case 3 Ang Xiao Case Study: Ben & Jerry’s Homemade (Case 3) This case focuses on the issues of asset control of Ben & Jerry’s Homemade, Inc with the four outstanding takeover offers by Dreyer’s Grand, Unilever, Meadowbrook Lane Capital and Chartwell Investment in 2001. Through the analysis of the four offers, I suggest the Board accept the Unilever’s offer. The advantage and disadvantage of each offer is

### Case Study of Precision Technology

2617 words - 11 pages Manage Performance Management Systems Assessment 1: Case Study of Precision Technology Case Questions 1. What is the primary goal Performance Management System (PMS)? The primary goal PMS is to develop a PMS that drives the performance of the company to achieve its objectives and strategies throughout identification, evaluation and development of the job performance. The aim of a performance management system is to help employees

### Case Study: Bank of America

834 words - 4 pages Case Study: Bank Of America  How it learned that what customers really want is to Keep the Change  THE PROBLEM  Innovation in services is rare. In financial services, the last big breakthrough was online banking, nearly a decade ago. In October, 2005, Bank of America (BAC ) brought out a radically different product that broke the paradigm. It's called Keep the Change.The cocept solves a critical banking problem -- how to get consumers to

### Case Study of Human Capital

1248 words - 5 pages Case Study: The New Career Development Program That Ruins Careers Introduction * It can be said that for any business that employs human beings will always encounter experiences of organizational conflict. This conflict can be caused by a multitude of ever-changing variables and circumstances. It is important to understand why organizational conflict is important and how it can be used as a productive resource that, when managed

### Case Study of Mcdonalds India

4041 words - 17 pages : * Mcdonalds 2013 about us. [online] Available at: http:// www.mcdonalds.com/home [Accessed: 18/3/2014]. * GOYAL, Anita and SINGH, N.P 2007. Consumer perception about fast food in India: an exploratory study. British Food Journal, 109(2), pp.182-195. * The golden Arches in India-a case of strategic adaption. Nitin Pangarker, National university of Singapore and Saroja Subrahmanyan, St. Mary’s College. * http://en.wikipedia.org/wiki

### Case Study of Uganda Population

729 words - 3 pages A case study of a youthful population UGANDA Uganda’s age-sex structure: [pic] [pic] The reproductive behaviour of individual families influences the nations population as a whole and the impact of population size, growth and structure is felt in the level of welfare of individuals and the family. To a great extent what families do is determined by their income earning and knowledge, factors that are not necessarily

### Case Study About Moral of Hacking

713 words - 3 pages Contemporary Practices in Information Technology 7WCM0005/7WCM0006 (SDL) Case Study - Coursework 1 The morality of hacking - Gary McKinnon – Did he break the British Computer Society Code of Conduct? Gary McKinnon was a Scottish Systems Administrator who in 2002 was accused of carrying out the “biggest military computer hack of all time”. McKinnon claimed that he was merely looking for evidence of a cover-up of Unidentified Flying

## Related Essays

### Case Study The Personality Of Hr People

641 words - 3 pages Basa, Adrian Contreras, Jules Duke Demeterio, Jaykee Ramiro Fernando, Arnold Vincent MGT 104 Case Studies The Personality of HR People Case Questions: Q1. If you were an HR specialist, which category would you prefer to be and why? Our group would prefer the consummate professional. (The Consummate Professional according to Wilson (2013) is usually coming from a confused lower middle class family background and may describe

### Case Study Of Abc

875 words - 4 pages Case study of ABC, Inc. hiring process Introduction As a company, the ABC firm needs to work on setting concrete guidelines and procedures for the hiring of new employees and scheduling of its resources. Background While ABC, Inc. seems to have some policies in place (mandatory drug testing, manuals, physicals, etc) the procedure for implementing these policies seems flawed. Was there a procedure in place for scheduling of the training

### Case Study Of Jake

728 words - 3 pages Case Study of Jeff Danielle L. Brown Walden University Case Study of Jeff Jeff is 21 year-old junior in college that presented at the emergency room non-communicative and in an inflexible position, with one hand raised, throughout the length of his interview. It is reported by the roommate, who is with Jeff, that he has not been himself as of the last six months. Additionally, the roommate reported Jeff being introverted

### Case Study Of Business

838 words - 4 pages ? Perceive demand for his job to others Enjoy with his work A pride thing The definition of job satisfaction can be broadly stated as the positive feeling about a job resulting from an evaluation of its characteristics. In this case, we have seen three different people, in different kinds of job, who are truly satisfied with their job. 1. Do you think only certain individuals are attracted to these type of jobs or is it the