Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

These are unsorted hourly wages in dollar of nine individuals: 74 34 28 42 21 23 19 78 36 Report measurement units where appropriate. Compute

These are unsorted hourly wages in dollar of nine individuals:

  1. 74
  2. 34
  3. 28
  4. 42
  5. 21
  6. 23
  7. 19
  8. 78
  9. 36

Report measurement units where appropriate.

  1. Compute the sample mean
  2. Compute the three quartiles and the IQR
  3. Interpret Q1
  4. Compute the standard deviation (provide all computation details).
  5. Using the empirical rule, make sense of what you find for the mean and standard deviation. (Hint: compute an interval whose bounds are given by the mean plus and minus 2 standard deviations)
  6. Use the IQR to detect outliers (hint: compute an interval whose bounds are Q1-1.5IQR and Q3+1.5IQR). Do you find any outlier?
  7. For all statistics computed above, describe which are location and which are dispersion measures.
  8. For all statistics computed above, describe which are robust to outliers and why.
  9. Report and interpret the z-score of the first individual in the sample (whose wage is 74 dollars/hour).
  10. Which observation will have the largest z-score?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

More Books

Students also viewed these Mathematics questions