Case Study 3:

The City Mayor is reviewing the proposal to build a new Shopping Center near a residential area. The City Mayor wants this to be a successful project and needs to determine if the new Shopping Center will have sufficient clients that will provide enough sales. To do this he is going to conduct a study of the families living in the nearby residential area to determine their income and distribution of salaries. The experts in this area have determined that in order for the project to be successful the residents' income should be around $33,000 with a deviation of no more than $13,000. The income per family currently living in the nearby residential areas is as follows:

Using the values for the family income, divide the data in eight (8) classes, find the width of the intervals (round to next thousand) and create the frequency distribution table, include the relative frequency in percentages. Draw a histogram using the frequency and the family income, to show the data distribution. Determine the mean, median, variance and standard deviation. What can the City Mayor determine from the statistical analysis?

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