Answered step by step
Verified Expert Solution
Question
1 Approved Answer
d. Use the histogram table to obtain approximate values of the sample mean, median and mode. (T5) Answer True of False to the following. You
d. Use the histogram table to obtain approximate values of the sample mean, median and mode. (T5) Answer True of False to the following. You should provide a brief justication of your answer. a. For personal income data the mean is a good measure of the centre of the distribu- tion. b. If the mean monthly return of Boral shares for 2011 was 0.7% and the median was 1% then the histogram of monthly returns for Boral 'm 2011 would be right skewed. c. Histograms are a more effective graphical summary than box plots when the data is bimodal. (TS) The following data give Gross National Product (GNP) per capita (in US dollars) for the 40 countries in sub-Saharan Africa in 1993: 430 2790 300 180 820 920 400 210 560 950 630 420 100 4960 350 430 500 240 270 650 220 200 270 500 3030 90 1820 270 300 210 750 6280 150 2980 1190 90 340 180 380 520 Although the data are given as integers, assume GNP is a continuous random variable. The data is available as an Excel spreadsheet, but dalot use the Excel functions for now: show every step of the calculations in different columns. a. Calculate the mean, median, and modal GNP for this group of countries. Which do you think provides the most apprOpriate measure for reecting the GNP of this group as a whole? Explain your answer. b. Calculate the range and variance (Note: the 40 countries represent a population). Explain why the variance may be an inappropriate measure of dispersion for this dis tribution
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started