1. Business
  2. Operations Management
  3. please assist with the following question problem 4 the food...

Question: please assist with the following question problem 4 the food...

Question details

PLease assist with the following question:

Problem 4

The Food and Drug Administration (FDA) reported the number of new drugs approved over an eight- year period (The Wall Street Journal, January 12, 2014). Figure 4 provides a bar chart Summarizing the number of new drugs approved each year.

  1. Are the data categorical or quantitative?

  2. Are the data time series or cross-sectional?

  3. How many new drugs were approved in 2003?

  4. In what year were the fewest new drugs approved? How many?

  5. Comment on the trend in the number of new drugs approved by the FDA over the eight-year period.

    Figure 4: Number of New Drugs Approved by the Food and Drug Adminidtration

15 0 1996 1997 1998 1999 2000 200 2002 2003 Year

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution