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?