Customer database. A philanthropic organization has a database of millions of donors that they contact by mail
Question:
Customer database. A philanthropic organization has a database of millions of donors that they contact by mail to raise money for charities. One of the variables in the database, Title, contains the title of the person or persons printed on the address label. The most common are Mr., Ms., Miss, and Mrs., but there are also Ambassador and Mrs., Your Imperial Majesty, and Cardinal, to name a few others. In all there are over 100 different titles, each with a corresponding numeric code. Here are a few of them.
An intern who was asked to analyze the organization’s fundraising efforts presented these summary statistics for the variable Title.
Mean 54.41 StdDev 957.62 Median 1 IQR 2 n 94649
a) What does the mean of 54.41 mean?
b) What are the typical reasons that cause measures of center and spread to be as different as those in this table?
c) Is that why these are so different?
Step by Step Answer:
Business Statistics
ISBN: 9780321716095
2nd Edition
Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe