Referring to the hourly wage data given in Problem 1, calculate the deviations (from the mean) for each of the seven employees. What do these deviations indicate about the wages earned by the employees?

Problem 1

The hourly wages (in dollars) of seven employees in a small company are as follows:

18

16

20

12

14

12

10

Find (a) the mode, (b) the median, and (c) the mean.

Denver Mines paid $625,000 for the right to extract ore from a 250,000-ton mineral deposit. In addition to the purchase price, Denver Mines also paid a $810 filing fee, a $2,000 license fee to the state of Colorado, and $55,390 for a geologic survey of the property. Because the company purchased the rights to the minerals only, it expects the asset to have zero residual value when fully depleted. During the first year of production, Denver Mines removed 48,000 tons of ore, of which it sold 44,000 tons. Make journal entries to record (a) purchase of the mineral rights, (b) payment of fees and other costs, (c) depletion for first-year production, and (d) sales of ore. Round depletion per unit to the closest cent.

Assume the demand for lumber suddenly rises because of a rapid growth of demand for new housing. Assume no change in supply. Why does the equilibrium price of lumber rise? What would happen if the price did not rise under the demand and supply circumstances described?

Tomatoes Describe a strategy to randomly split the 24 tomato plants into the three groups for the chapter’s completely randomized single factor test of OptiGro fertilizer.

What does the following function do?

def test7 (picture): for p in getPixels(picture): red = getRed(p)/2 green = getGreen(p)/2 blue = getBlue(p)/2 color = makeColor(red,green,blue) setColor(p,color)