Neds Sheds purchases building materials from Timbertown Lumber for $3,700 with terms of 4/15, n/30. The invoice is dated October 17. Neds decides to send in a $2,000 partial payment. a. By what date must the partial payment be sent to take advantage of the cash discount? b. What is the net date? c. If partial payment was sent by the discount date, what is the balance still due on the order?
STAT 30100 Sec 1.1----1.3 Variable: something that takes on multiple values TYPES OF VARIABLES Quantitative: uses numbers Categorical: uses names or labels DISTRIBUTION OF VARIABLES Distribution of a variable: the values a variable takes and how often it takes on each value GRAPHING Categorical: 1) Bar graph -the y axis represents the frequency, x axis shows the values 2) Pie chart -percents must add to be 100% Quantitative 1) Stem and leaf plots -displays actual values of all observations -good for small amounts of data 2) Histogram -displays only total values of observations -used for large amounts of data 3) Boxplots -used to graph summary information only Histogram VS Stem plot o Use a histogram when you have a large amount of data, use a stem plot when you have a small amount of data Histogram VS Bar graph o Histogram variables are quantitative, bar graph variables are categorical o Histogram bars touch, bar graph bars do not touch o Histogram has values in order on x axis, bar graph values can be in any order DESCRIBING GRAPHS OF QUANTITAVE VARIABLES 1) Shape a. Number of peaks i. 1 peak= unimodal ii. 2 peaks= bimodal