Business Mathematics I
Homework 6
Prepared for
Stephen Reyes
Math 115a, Section
University of Arizona
By
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Submitted on
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assignment and that the work contained herein is original. Furthermore, we understand that
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1. (Exercises 4 & 5 from Histograms) A small business has kept records of the number of sales
per day and the gross daily sales for a period of 4 years. Since they are open 5 days a week,
except for two holiday weeks, they have records of 1,000 business days. These are shown in
the sheet Raw Data of the Excel file Daily Sales.xls. (i) Open that file, and sort the data by
“Day of Week.” (ii) After sorting, use Copy and Paste to copy the records of the 200
Mondays into the sheet Monday of Daily Sales.xls. Repeat this process for the records from
(iii) Tuesdays, (iv) Wednesdays, (v) Thursdays, and (vi) Fridays.
Solution.
2. (Exercises 10 & 11 from Histograms) (i) Compute the minimum, maximum, average, and
range of gross sales for the records that were copied into the sheet Monday of Daily
Sales.xls in Problem 1. Repeat for the (ii) Tuesday, (iii) Wednesday, (iv) Thursday, and (v)
Friday data in Daily Sales.xls. (vi) Which day had the largest average gross sales? (vii)
Which day had the smallest average gross sales?
Solution.
3. (Exercise 15 from Histograms) (i) Compute the set of times between arrivals and times until
the first arrival for your team’s first hour. (ii) Calculate the minimum, mean, maximum,
and range for these times.
Solution.
4. (Exercise 16 from Histograms) Redo Parts (i) and (ii) of Problem 3, using your team’s data
for its second hour.
Solution.
5. (Exercise 18 from Histograms) Referring to the Monday data from Daily Sales.xls, which
was discussed in Problem 2, create a histogram plot of the gross sales.
Solution.
6. (Exercise 21 from Histograms) Consider the set of times between arrivals and times until the
first arrival for your team’s first hour. Plot a histogram of the relative frequencies for these
times using suitable bins.
Solution.
7. (Exercise 22 from Histograms) Redo Problem 6, using your team’s data for its second hour.
Solution.
8. (Exercise 23 from Histograms) (i) Calculate the minimum, mean, maximum, and range for
the ATM service times in your team’s data. (ii) Plot a histogram of the relative frequencies
of these service times in suitable bins. (iii) Use your computations in Problems 6 and 7, and
Part (i) of this exercise to draw preliminary conclusions about the numbers of ATM’s that
would need to be opened at each of your team’s usage periods.
Solution.