Demand for consumer goods is necessarily variable. Forecasting the den goods is

Question

Demand for consumer goods is necessarily variable. Forecasting the den goods is an important business activity, as all businesses have to plan ahead. Manufacturer of consumer goods has been studying the demand for one of their products and the level of demand is given in the following stem and leaf plot, where stem unit is 100 and leaf unit is or consumer 10 Stem Leaf 1 1,2, 3, 4.5, 5, 6,7, 7, 9, 9.5 2 0, 0, 0, 0, 0, 0, 0, 0, 1, 1, 2, 4, 5, 7, 9 3 0, 0, 0, 2, 8 4 10 12 0 The upper quartile is A. 110 B. 295 C. 115 D. 180 E. 200

Explanation / Answer

Upper quartile Q3 = 3/4(n+1)th observation.

Total observations n = 33

Q3 = 3/4 (33+1) = 25.5 th observation .

25th observation is 290 and 26th observation is 300

25.5th observation = 290 + 300 / 2

= 295

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