Exercise 03.19 (Measures of Location) Question 4 of 18 Hint(s) Check My Work Annual revenue for Corning Supplies grew by 5.5% in 2014; 1.1% in 2015; -3.5% in 2016; -1.1% in 2017; and 1.8% in 2018. What is the mean growth annual rate over this period? Round your answer to four decimal places. Do not round intermediate calculations. 0.76 X Hide Feedback Incorrect Hint(s) Check My Work O- Icon Key Exercise 03.19 (Measures of Location) A of10 .ns Exercise 03.41 (Measures of Distribution Shape, Relative Location, and Detecting Outliers) Question 11 of 18 Check My Work The Graduate Management Admission Test (GMAT) is a standardized exam used by many universities as part of the assessment for admission to graduate study in business. The average GMAT score is 547 (Magoosh website). Assume that GMAT scores are bell-shaped with a standard deviation of 100. Use the empirical rule to answer the following. a. What percentage of GMAT scores are 647 or higher (to 1 decimal)? % b. What percentage of GMAT scores are 747 or higher (to 1 decimal)? % c. What percentage of GMAT scores are between 447 and 547 (to 1 decimal)? % d. What percentage of GMAT scores are between 347 and 647 (to 1 decimal)? % Check My Work O- Icon Key Exercise 03.41 (Measures of Distribution Shane. Relative Location. and Detecting Outliers)The New York Times reported that Apple has unveiled a new iPad marketed specifically to school districts for use by students (The New York Times website). The 9.7-inch iPads will have faster processors and a cheaper price point in an effort to take market share away from Google Chromebooks in public school districts. Suppose that the following data represent the percentages of students currently using Apple iPads for a sample of 18 U.S. public school districts. Click on the datafile logo to reference the data. DATA file 15 22 12 21 26 18 42 29 64 20 15 22 18 24 27 24 26 19 a. Compute the mean and median percentage of students currently using Apple iPads. Mean * (to 2 decimals) Median * (to the nearest whole number) b. Compute the first and third quartiles for these data. First quartile x (to 2 decimals) Third quartile x (to 2 decimals) c. Compute the range and interquartile range for these data. Range X (to the nearest whole number) Interquartile range X (to 2 decimals) d. Compute the variance and standard deviation for these data. Variance X (to 2 decimals) Standard deviation X (to 2 decimals) e. Are there any outliers in these data? Enter the number of outliers. If an amount is zero, enter "0". value(s) would be considered outlier(s). f. Based on your calculated values, what can we say about the percentage of students using iPads in public school districts? CAEach year Money magazine publishes a list of "Best Places to Live in the United States." These listings are based on affordability, educational performance, convenience, safety, and livability. The below table shows the median household income of Money magazine's top city in each U.S. state for 2017 (Money magazine website). Click on the datafile logo to reference the data. DATA file Median Household Median Household City Income ($) City Income ($) Pelham, AL 66,772 Bozeman, MT 49,303 Juneau, AK 84,101 Papillion, NE 79,131 Paradise Valley, AZ 138,192 Sparks, NV 54,230 Fayetteville, AR 40,835 Nashua, NH 66,872 Monterey Park, CA 57,419 North Arlington, NJ 73,885 Lone Tree, CO 116,761 Rio Rancho, NM 58,982 Manchester, CT 64,828 Valley Stream, NY 88,693 Hockessin, DE 115,124 Concord, NC 54,579 St. Augustine, FL 47,748 Dickinson, ND 71,866 Vinings, GA 73,103 Wooster, OH 43,054 Kapaa, HI 62,546 Mustang, OK 66,714 Meridian, ID 62,899 Beaverton, OR 58,785 Schaumburg, IL 73,824 Lower Merion, PA 117,438 Fishers, IN 87,043 Warwick, RI 63,414 Council Bluffs, IA 46,844 Mauldin, SC 57,480 Lenexa, KS 76,505 Rapid City, SD 47,788 Georgetown, KY 58,709 Franklin, TN 82,334 Bossier City, LA 47,051 Allen, TX 104,524 South Portland, ME 56,472 Orem, UT 54,515 Rockville, MD 100,158 Colchester, VT 69,181Woodbury, MN 99,657 Morgantown, WV 38,060 Olive Branch, MS 62,958 New Berlin' WI ?4,983 St. Peters, MO 57,728 Cheyenne, WY 56,593 a. Compute the mean and median for these household income data. Mean 5 0 (to 2 decimals) Median S 0 [to 2 decimals) b. Compare the mean and median values for these data. What does this indicate about the distribution of household income data? The mean household income is 6 than the median household income. This indicates. that the distribution of household income is *9 c. Compute the range and standard deVIation for these household income data. Range $ 0 (to the nearest whole number) Standard deviation $ 0 (to 2 decimals) :1. Compute the rst and third quartiles for these household income data. First Quartile S 0 (to 2 decimals) Third Quartile S 0 (to 2 decimals) e. How manyr values would be conSldered outliers are in these data? If an amount is zero, enter "0". 0 value(s) would be conSldered outlier(s). What does this suggest about the data? l Since there are outliers above the upper limit of the data, this is most likely why the mean is larger than the median. VI w " 0 Partially Correct Hint[s) Check My \"fork The following table shows the total return and the number of funds for four categories of mutual funds. Excel File: data03717.xlsx Type of Fund Number of Funds Total Return (0113) Domestic Equity 9,191 4.65 International Equity 2,621 18.15 Specialty Stock 1,419 1 1.36 Hybrid 2,900 6.75 a. Using the number of funds as weights, compute the weighted average total return for these mutual funds (to 2 decimals] 30% b.15 there anyr difficulty associated with using the "number of fundsH as the weights in computing the weighted average total return in pait [a]? Discuss. What else might be used for weights? (i) Using r'number of funds" as weights will only be a good approXimation if the amount invested in various funds is approximatelyr equal. The amount invested in each fund could be used for weights. (ii) Using "number of funds" as weights results in a good approximation regardless of the amount invested in various funds. There is no need to use a different weight. (iii) Using "number of funds" as weights will only be a good apprommation if the amount invested in various funds is apprOXimately equal. There is no other option that could be used for weights. (iv) Using Hnumber of funds" as weights results in a good approximation regardless of the amount invested in various funds. The total amount invested in all funds could be used for weights. Choose the correct option. l Choice (i) v] \\'9 c. Suppose you invested $10,000 in this group of mutual funds and diversified the investment by plaCing $2,000 in Domestic Equity funds, $4,000 in International Equity funds, $3,000 in SpeCIalty Stock funds, and $1,000 in Hybrid funds. What is the expected return on the portfolio? (to 2 decimals) 30%