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Excel was used to generate the following output for Super Balance for the full sample of 100 accounts. Use this output to answer parts d.-f.
Excel was used to generate the following output for Super Balance for the full sample of 100 accounts. Use this output to answer parts d.-f. inclusive Superannuateon Balance 60 Super Balance Mean 222500.688 50 Standard Error 27188.315 Median 107942.974 Mode #N/A 40 Standard Deviation 271883.155 Sample Variance 73920449752.851 Frequency Kurtosis 4.506 30 Skewness 2.124 Range 1292885.174 20 Minimum 1194.713 Maximum 1294079.888 Sum 22250068.782 10 Count 100.000 7831 354 83.23 More 194,713355 59771.748 389060.2657 647637.3005 776925.8 214.3 1035502.853 1164791.3 130 51834 Boxplot of Super Balance Balance $1,400,000 $1,200,000 $1,000,000 d. The descriptive statistics show a Skewness value of 2.124 for Super Balance. Interpret . . this value and say how the shape of the histogram reflects this value. (3 marks) $800,000 $600,000 e. Say why the mean Super Balance would not be the best measure of the "typical" value of a superannuateon account. Provide the name and the value of a better measure. (2 marks) $400,000 f. A boxplot is a useful graph for describing the distribution of the data. State one advantage $200,000 of a boxplot over a histogram in describing the distribution of a variable. (1 mark)
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