Listed are the 2019 U.S. Census Bureau estimates of median annual family income for the 50 states,
Question:
Listed are the 2019 U.S. Census Bureau estimates of median annual family income for the 50 states, the District of Columbia, and Puerto Rico (https://www.census.gov/programs-surveys/acs/data.html).
Use a statistical software package such as Excel or Minitab to help answer the following questions.a. Determine the minimum or lower outlier boundary, first quartile, median, third quartile, and maximum or upper outlier boundary values of median family income.b. Determine and interpret the interquartile range.c. Develop a box plot. Are there any outliers? Do the amounts follow a symmetric distribution or are they skewed? Justify your answer.d. Organize the distribution of funds into a frequency distribution.e. Write a brief summary of the results in parts (a) to (d).
Step by Step Answer:
Statistical Techniques In Business And Economics
ISBN: 9781265779696
19th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen