In certain states, savings banks are permitted to sell life insurance. The approval process consists of underwriting, which includes a review of the application, a medical information bureau check, possible requests for additional medical information and medical exams, and a policy compilation stage, in which the policy pages are generated and sent to the bank for delivery. The ability to deliver approved policies to customers in a timely manner is critical to the profitability of this service to the bank. Using the DCOVA framework, the variable of interest is defined as the total processing time in days. Data in the accompanying table are collected by selecting a random sample of 27 approved policies during a period of one month. Complete parts a through d. Click the icon to view the table of processing times. a. Compute the mean, median, first quartile, and third quartile. mean = (Round to two decimal places as needed. ) median =( Type an integer or a decimal. Do not round. ) first quartile = (Type an integer or a decimal. Do not round.) third quartile = (Type an integer or a decimal. Do not round.) b. Compute the range, interquartile range, variance, standard deviation, and coefficient of variation. range =( Type an integer or a decimal. Do not round. ) interquartile range = (Type an integer or a decimal. Do not round. ) sample variance = (Round to two decimal places as needed. ) sample standard deviation = (Round to two decimal places as needed. ) coefficient of variation =% (Round to two decimal places as needed.) c. Construct a boxplot. Choose the correct graph below. c. Construct a boxplot. Choose the correct graph below. A. B. C. Are the data skewed? If so, how? A. The data are not-skewed. B. The data are right-skewed. C. The data are left-skewed. d. What would you tell a customer who enters the bank to purchase this type of insurance policy and asks how long the approval process takes? The mean approval process takes days, with 50% of the policies being approved in less than days. The middle 50% of the applications are approved between days. About 68% of the applications are approved between days. In certain states, savings banks are permitted to sell life insurance. The approval process consists of underwriting, which includes a review of the application, a medical information bureau check, possible requests for additional medical information and medical exams, and a policy compilation stage, in which the policy pages are generated and sent to the bank for delivery. The ability to deliver approved policies to customers in a timely manner is critical to the profitability of this service to the bank. Using the DCOVA framework, the variable of interest is defined as the total processing time in days. Data in the accompanying table are collected by selecting a random sample of 27 approved policies during a period of one month. Complete parts a through d. Click the icon to view the table of processing times. a. Compute the mean, median, first quartile, and third quartile. mean = (Round to two decimal places as needed. ) median =( Type an integer or a decimal. Do not round. ) first quartile = (Type an integer or a decimal. Do not round.) third quartile = (Type an integer or a decimal. Do not round.) b. Compute the range, interquartile range, variance, standard deviation, and coefficient of variation. range =( Type an integer or a decimal. Do not round. ) interquartile range = (Type an integer or a decimal. Do not round. ) sample variance = (Round to two decimal places as needed. ) sample standard deviation = (Round to two decimal places as needed. ) coefficient of variation =% (Round to two decimal places as needed.) c. Construct a boxplot. Choose the correct graph below. c. Construct a boxplot. Choose the correct graph below. A. B. C. Are the data skewed? If so, how? A. The data are not-skewed. B. The data are right-skewed. C. The data are left-skewed. d. What would you tell a customer who enters the bank to purchase this type of insurance policy and asks how long the approval process takes? The mean approval process takes days, with 50% of the policies being approved in less than days. The middle 50% of the applications are approved between days. About 68% of the applications are approved between days