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Sales Frequency and Data Analysis Quiz

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Questions and Answers

Which term refers to the number of times sales occur for a fixed period of time?

Mean

Median

Sales Frequency (correct)

Mode

What is the formula for calculating the mean?

The value that occurs most in a group of numbers

The midpoint of a group of values

The sum of values multiplied by the number of units

Sum of values divided by the number of units (correct)

How is the median calculated?

Finding the average of the values

Finding the value that occurs most in a group of numbers

Finding the sum of values divided by the number of units

Ordering the values and finding the midpoint (correct)

What does the mode represent in a group of numbers?

The value that occurs most Signup and view all the answers

According to the text, where can you find more information about sound merchandising in funeral homes?

In the supplemental material folder Signup and view all the answers

Which of the following statements accurately describes a quartile?

A quartile represents one fourth of the total number of items. Signup and view all the answers

What is the purpose of the balance line formula mentioned in the text?

To ensure that a funeral home has the correct number of caskets in each pricing quartile. Signup and view all the answers

According to the example on the slide, how many caskets should come from the 2nd quartile under the balance line formula?

6 Signup and view all the answers

In the example, what percentage of caskets are in the 3rd quartile?

40% Signup and view all the answers

What is the first step in calculating the number of caskets in each pricing quartile using the balance line formula?

Breaking the caskets into quartiles. Signup and view all the answers