The London School of Economics and the Harvard Business School have conducted studies of how chief executive officers (CEOs) spend their time. These studies have found that CEOs spend many hours per week in meetings that include conference calls, business meals, and public events. Suppose that the data below show the time spent per week in meetings (hours) for a sample of 25 CEOs. 14 15 18 23 15
19 20 13 15 23
23 21 15 20 21
16 15 18 18 19
19 22 23 21 12

Required:
a. What is the least and the highest amount of time spent per week on meetings?
b. Use a class width of two hours to prepare a frequency distribution and a percent frequency distribution for the data.
c. Prepare a histogram and comment on the shape of the distribution.

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?