SHOW WORK IN EXCEL AND WITH FORMULAS

Your employer, an insurance company, asked you to analyze the existing company records to determine the length of the approval process of the company's life insurance policies.You collect the data by selecting a sample of 27 policies that were approved in the last month. Following are the number of days required to process the 27 approved policies:

18225631566090312828641619

7317166951506392911717174845

Use the data set to compute the following descriptive statistics:

a. Find the mean and median;

b. State the first quartile and explain its meaning;

c. State the third quartile and explain its meaning;

b. The number of days required to process the middle 50% of the policies are from ______ to_________;

c. Find the range, and standard deviation;

d. Are the data skewed?If so, how?

e. List the five-number summary;

f. An insurance policy that required 90 days to process. Would such a policy be considered an outlier? Explain.