The table shows the smallest to largest winning payout (per $1 wagered) for winners of the Kentucky

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The table shows the smallest to largest winning payout (per $1 wagered) for winners of the Kentucky Derby, 1970–2011

a. Draw the box plot for the payout data. Use the “1.5 x inter-quartile range” approach to identify any outliers.

b. Use the “3-standard-deviation” approach to identify any outliers. (The mean payout is $10.45; the standard deviation is $11.52.)

c. Calculate the z-score for the value $16.80.

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Related Book For  book-img-for-question

Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

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