Frequency Distribution

Question

There are many ways to collect data. Usually, researchers need to work with samples of data- sets collected from the whole population data and analyze such sample data. One of the goals in descriptive statistics is to organize and describe raw data sets in systematic way so that it is easier to understand study and draw some meaningful conclusions from it. Frequency distribution is one such method of data organization. Shall there be some guideline that we should follow while constructing frequency distributions? If yes, how?

Question

Five marbles are chosen without replacement from a box containing 6 red, 2 blue, and 3 yellow marbles. Let X be the number of red marbles chosen.
a) Find and graph the probability distribution of X.
b) Find the mean of the random variable X.

Question

(a) From a business perspective, which measurement is more important the Mode, the Mean, or the Median? Provide examples (business related) that demonstrate the appropriateness of one of these measures and the inappropriateness of the other two in a particular situation.
(b) Can you think of situations where another one of the measures is more appropriate or relevant?

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