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Question 1

The following information regarding the ten richest Americans was reported in a recent issue of Forbes.

  1. How many elements are in the above data set?
  2. How many variables are in this data set?
  3. How many observations are in this data set?
  4. Which variables are categorical and which are quantitative?

Question 2

A sample of the ages of 10 employees of a company is shown below.

20 30 40 30 50
30 20 30 20 40

  • Using a method of your choosing, construct a dot plot for the above data.

Question 3

The following data shows the price of PAO, Inc. stock over the last eight months.

  1. Develop a scatter diagram and draw a trend line through the points.
  2. What kind of relationship exists between stock price and time (negative, positive, or no relation)?
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