Chapter 3: Problem 37
The range, as a measure of spread, has the disadvantage of being influenced by outliers. Illustrate this with an example.
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Chapter 3: Problem 37
The range, as a measure of spread, has the disadvantage of being influenced by outliers. Illustrate this with an example.
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Briefly explain the empirical rule. To what kind of distribution is it applied?
The following data set belongs to a population: \(\begin{array}{llllllll}5 & -7 & 2 & 0 & -9 & 16 & 10 & 7\end{array}\)
The following data give the numbers of minor penalties accrued by each of the 30 National Hockey League franchises during the \(2010-11\) regular season. \(\begin{array}{llllllllll}249 & 265 & 269 & 287 & 287 & 292 & 299 & 300 & 300 & 301 \\ 302 & 304 & 311 & 312 & 320 & 325 & 330 & 331 & 335 & 337 \\ 344 & 347 & 347 & 348 & 352 & 353 & 354 & 355 & 363 & 374\end{array}\) a. Calculate the values of the three quartiles and the interquartile range. b. Find the approximate value of the 57 th percentile. c. Calculate the percentile rank of 311 .
One disadvantage of the standard deviation as a measure of dispersion is that it is a measure of absolute variability and not of relative variability. Sometimes we may need to compare the variability of two different data sets that have different units of measurement. The coefficient of variation is one such measure. The coefficient of variation, denoted by CV, expresses standard deviation as a percentage of the mean and is computed as follows: For population data: \(\mathrm{CV}=\frac{\sigma}{\mu} \times 100 \%\) For sample data: $$ \mathrm{CV}=\frac{s}{\bar{x}} \times 100 \% $$ The yearly salaries of all employees who work for a company have a mean of \(\$ 62,350\) and a standard deviation of \(\$ 6820\). The years of experience for the same employees have a mean of 15 years and a standard deviation of 2 years. Is the relative variation in the salaries larger or smaller than that in years of experience for these employees?
Explain the concept of the percentile rank for an observation of a data set.
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