Question

2. A manufacturer of industrial wheels suspects the profitable orders are being lost because of the long time the firm takes to develop price quotes for potential customers. To investigate this possibility, 50 requests for price randomly selected from the set of all quotes made last year and ie processing time was determined for each quote. The processing times are displayed in Table 2 and each quote was classified according to whether the order was "lost or whether or not the customer piaceu an order after receiving a price quote) s were l.e a) Create a frequency histogram for these data. Then sha ne area under the histogram that corresponds to lost orders. Interpret the results TABLE 2: PRICE QUOTE PROCESSING TIME (DAYS) REQUEST PROCESSING REQUEST PROCESSING LOsT? NUMBER | TIME TIME 3.34 6.00 5.92 NUMBER 26 2.36 No No No No 5.73 6.60 No 27 No 28 Yes 297.28 Yes 4 1.88 2.52 No No No 30 31 32 1.25 4.01 7.59 No No No

Answer 1