Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. For each of the variables below, compute by hand (that is, with a calculator) their mean and standard deviation. Confirm your results with Minitab

1.For each of the variables below,compute by hand(that is, with a calculator) their mean and standard deviation.Confirm your results with Minitab.(Type the numbers into separate columns in the Minitab worksheet.)

-For variables a, b, and c, what relationships do you see between the variable means?Between the variable standard deviations?

-Stat 225 Review for Extra credit (3 points):Note that Variable e = Variable b + Variable d. Note that thestandard deviation of e sum of standard deviations of b and d?What is the correct relationship? (Consider this a research question. You are not expected to derive the formula mathematically.)

a.100, 200, 300, 400, 500, 600, 700, 800, 900

b.1, 2, 3, 4, 5, 6, 7, 8, 9

c.90, 190, 290, 390, 490, 590, 690, 790, 890

d.5, 8, 13, 21, 34, 55, 89, 144, 233

e.6, 10, 16, 25, 39, 61, 96, 152, 242

2.a. For 2021-22, the minimum NBA player salary is $925,000.The mean salary is approximately $8.1 million, the median $4.0 million, and, at the time of this writing, the maximum salary is $46 million (Steph Curry).Do you believe the distribution of 2021-22 NBA player salaries is a normal distribution?Briefly explain your answer.

b.Consider the distribution of all household incomes in the state of Indiana.Briefly explain why you believe this isnota normal distribution.

3.a. Open the "How Much is a Win Worth" document.Evaluate this graph (which is from the Spring 2018 Exponent).Give two criticisms of the graph.

b. Open the UK 2016 Q4 GDP Growth graph.What is a major flaw in its construction?(Hint: Is the Second Estimate of the GDP growth three times bigger than the First Estimate?)

4.Suppose the Pacers basketball team is averaging 108 points per game half way through their season.

a.Is this a good prediction of exactly how many points they will score in their next game?Why or why not?

b.To make such a prediction, what other information would you like to have?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Discrete Mathematics

Authors: Gary Chartrand, Ping Zhang

1st Edition

1478616261, 9781478616269

More Books

Students also viewed these Mathematics questions

Question

example for padding of zeros to the last part in fold shifting

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago

Question

1. Too reflect on self-management

Answered: 1 week ago

Question

Food supply

Answered: 1 week ago