The summary statistics are essential for the price data for the previous ten vehicles. Mean 183038.8 Median 99130 Standard Deviation 201021.6022. Based on my statistics summary, the typical vehicle in the price data has a mean of $183,038.8. The median value or the median of the price data is $99,130. Since the mean is greater than the median, we can say that the price data distribution is positively skewed, meaning that most of the price is on the lower side. In addition, there is a standard deviation of $201,021.60. This is a relatively large standard deviation, so we can conclude that the data is spread out, and most of the price data is far from the mean when adding the 11th vehicle and say it a McLaren Speedtail, which costs $2,250,000. Mean 370944.3636 Median 99245 and Standard Deviation 651737.8502. The summary statistics that were most affected by the outlier are the mean and the standard deviation. Adding an outlier that is way larger than the rest has changed the mean and the standard deviation to increase drastically compared to their values without the outlier. This is not surprising since the standard deviation measures how to spread out the values are from the mean, and the compromise of the data will also increase since it involves summing all the prices and dividing it by the sample size.

Recall the car data set you identified in Week 2.

You will want to calculate the average for your data set.(Be sure you use the numbers without the supercar outlier.)

Once you have the average, count how many of your data points fall below the average.

You will take that number and divide it by 10.

This will be your p or "success" in your problem.

Once you have p, calculate q.

If you were to find another random sample of 10 cars based on the same data, what is the probability that exactly 4of them will fall below the average?

Make sure you interpret your results.

If you were to find another random sample of 10 cars based on the same data, what is the probability that fewer than 5of them will fall below the average?

Make sure you interpret your results.

If you were to find another random sample of 10 cars based on the same data, what is the probability that more than 6of them will fall below the average?

Make sure you interpret your results.

If you were to find another random sample of 10 cars based on the same data, what is the probability that at least 4of them will fall below the average?

Make sure you interpret your results.

I encourage you to review theWeek 3Binomial probabilities PDFat the bottom of the discussion.

This will give you a step-by-step example to follow and show you how to find probabilities using Excel.

You can also use this PDF in the Quizzes section.

There are additional PDFs that were created to help you with the Homework, Lessons, and Tests in the Quizzes section.

While they won't be used to answer the questions in the discussion, they are just as useful and beneficial.

I encourage you to review these ASAP!

These PDFs are also located at the bottom of the discussion.

Once you have posted your initial discussion, you must reply to at least two other learner's post.

Each post must be a different topic.

So, you will have your initial post from one topic, your first follow-up post from a different topic, and your second follow-up post from one of the other topics.

Of course, you are more than welcome to respond to more than two learners."

Instructions:Youmust respond to at least 2 other students.

In your peer posts, compare the probabilities that you found with those of your classmates.

Were they higher/lower and why?

In your responses, refer to the specific data from your classmates' posts.

Make sure you include your data set in your initial post as well.

Week 3 Poisson probabilities.pdf

Week3 Binomial probabilities.pdf