The following data shows the annual expenditure of households in (Thousands of GHS) in Ghana from...
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The following data shows the annual expenditure of households in (Thousands of GHS) in Ghana from 1987 to 1998. Use the data to answer the following questions. Year 1988 1989 1990 1992 1993 1994 1995 1996 1997 1998 1987 Expenditure 212.6 247.0 255.2 219.9 202.4 236.8 260.3 249.0 223.2 198.6 100.4 445.5 1991 a. What is the average expenditure over the period? (2 marks) b. What is the 50th percentile or the median of the distribution? (2 marks) c. Are the mean and median different? Briefly explain why or why not. (4 marks) n's fal d. Calculate the coefficient of variation (CV). (3 marks) e. If Nigeria's CV for annual expenditure for the same period is 0.78, which of the two countries is experiencing high inequality? Briefly explain your answer? (4 marks) 5² = 78.04 fie 2/10 The following data shows the annual expenditure of households in (Thousands of GHS) in Ghana from 1987 to 1998. Use the data to answer the following questions. Year 1988 1989 1990 1992 1993 1994 1995 1996 1997 1998 1987 Expenditure 212.6 247.0 255.2 219.9 202.4 236.8 260.3 249.0 223.2 198.6 100.4 445.5 1991 a. What is the average expenditure over the period? (2 marks) b. What is the 50th percentile or the median of the distribution? (2 marks) c. Are the mean and median different? Briefly explain why or why not. (4 marks) n's fal d. Calculate the coefficient of variation (CV). (3 marks) e. If Nigeria's CV for annual expenditure for the same period is 0.78, which of the two countries is experiencing high inequality? Briefly explain your answer? (4 marks) 5² = 78.04 fie 2/10
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a To find the average expenditure over the period add up all the expenditure values and divide by th... View the full answer
Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 9781119577621
3rd Canadian Edition
Authors: Ken Black, Ignacio Castillo
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