Question

In: Statistics and Probability

The data below show the prices of a slice of cheese pizza at various locations around...

  1. The data below show the prices of a slice of cheese pizza at various locations around Snohomish County:

$3.05

$2.57

$2.32

$2.07

$2.49

$2.12

$2.63

$2.42

$2.71

$2.19

$2.96

$2.80

$3.30

$3.48

$2.26

$2.84

  1. make a histogram, then describe the center, spread and shape.

  1. Find the 5-number summary (min, Q1, median, Q3, max). Show all the steps.

  1. Suppose there was one more restaurant that sold a slice of cheese pizza for $5.00. Would this affect the mean or median more? Would it affect the IQR or standard deviation more?

Solutions

Expert Solution

C I f
2.00-2.30 4
2.30-2.60 4
2.60-2.90 4
2.90-3.20 2
3.20-3.50 2

center lies 2.6-2.9
Range = 3.48-2.07=
1.41
s.n. x Min = 2.07
1 2.07 Q1 = (n+1)4 th item=
2 2.12 17/4 th item=
3 2.19 4.25th item=
4 2.26 2.26+ 0.25(2.32-2.26)
5 2.32 2.26+ 0.015
6 2.42 Q1 = 2.275
7 2.49 Median= (8th+9th)/2=
8 2.57 (2.57+2.63)/2 =
9 2.63 2.6
10 2.71 Q3= 3(n+1)4 th item=
11 2.8 Q3= 12.75 th
12 2.84 Q3= 2.84+ 0.75(2.96-2.84)
13 2.96 Q3= 2.96
14 3.05 Max = 3.48
15 3.3 IQR = Q3-Q1
16 3.48 IQR = 0.685
sum= 42.21
Mean= 42.21/16=
2.638125
If 5 is added then mean= 47.21/17 = 2.777058824
medain= 9th item= 2.63
Change in mean= 0.138934 more
Change in median= 0.03

If we add $5 then standard deviation is more affected than IQR

Histogram 5 4 3 2 1 0 1 12.00-2.30 12.30-2.60 12.60-2.90 2.90-3.20 13.20-3.50


Related Solutions

The data below show the prices and ages in years of a particular brand of foreign...
The data below show the prices and ages in years of a particular brand of foreign car.  We want to see the relationship between age and price.   CAR 1 2 3 4 5 6 7 8 9 10 YI : PRICE 17 20.6 14 16.4 17.8 19.6 13.2 33.8 10 9.6 XI: AGE IN YEARS 5 4 6 5 5 5 6 2 7 7             We also have  ,  ,                   The computer printout for the regression line typically looks like the following...
Refer totable below, which lists the prices of various XXX Corp. options. Use the data in...
Refer totable below, which lists the prices of various XXX Corp. options. Use the data in the figure to calculate the payoff and the profit/loss for investments in each of the following May 2021  (one year to maturity) expiration options on a single share, assuming that today share price is $20 and on the expiration date it will be $21. Cost TimeValue Payoff                Profit/Loss a. Call option, X = 18 2.80 b. Put option,  X = 18 0.65 c. Call option, X =...
4. Effects of Inventory Costing Methods and Changing Prices Using the data below, show the ending...
4. Effects of Inventory Costing Methods and Changing Prices Using the data below, show the ending inventory and cost of goods sold for each of the methods shown in the table below, including the effects of the different prices at which the merchandise was purchased. For the specific-identification method, assume that the inventory consists of 26 units from the August 8 purchase and 28 units from the purchase of August 22. For all other methods, assume Vegan uses a periodic...
The table below show data that has been collected from different fields from various farms in...
The table below show data that has been collected from different fields from various farms in a certain valley. The table contains the grams of Raspberries tested and the amount of their Vitamin C content in mg. Find a linear model that express Vitamin C content as a function of the weight of the Raspberries. grams Vitamin C content in mg 75 21.2 80 23.2 85 25 90 27.8 95 30 100 32.3 105 33.6 A) Find the regression equation:...
1. The table below show data that has been collected from different fields from various farms...
1. The table below show data that has been collected from different fields from various farms in a certain valley. The table contains the grams of Raspberries tested and the amount of their Vitamin C content in mg. Find a linear model that express Vitamin C content as a function of the weight of the Raspberries. Round your answers to 3 decimal places Raspberry Type grams Vitamin C content in mg Farm A - North Field 65 16.4 Farm B...
Use the data below to solve. The data gives the square footage and sales prices for...
Use the data below to solve. The data gives the square footage and sales prices for several houses in Bellevue, Washington. Use this information to solve the following: PLEASE SHOW YOUR WORK : ) 1) You plan to build a 500 square foot addition to your home. How much do you think your home value will increase as a result? 2) What percentage of the variation in home value is explained by the variation in the house size? 3) A...
Consider the data set below of the 14” pizzas at Little Italy. There are two pizza...
Consider the data set below of the 14” pizzas at Little Italy. There are two pizza chefs (Anna and Lorenzo, Factor A), two work shifts (day and evening, Factor B), and two dough companies (Sysco and PFG Holdings, Factor C). For each combination, there are four pizzas made (n = 4). The diameter of each pizza is measured.                                                                         Measurements                                                 Pizza                                       Anna                                                   Lorenzo Dough                Shift             1          2        3        4                    1            2        3        4 Sysco                   Day             14.1    ...
Below is a list of prices for zero-coupon bonds of various maturities. Maturity (Years) Price of...
Below is a list of prices for zero-coupon bonds of various maturities. Maturity (Years) Price of $1,000 Par Bond (Zero-Coupon) 1 $ 978.14 2 893.66 3 807.34 a. A 9.7% coupon $1,000 par bond pays an annual coupon and will mature in 3 years. What should the yield to maturity on the bond be? b. If at the end of the first year the yield curve flattens out at 8.0%, what will be the 1-year holding-period return on the coupon...
Below is a list of prices for zero-coupon bonds of various maturities. Maturity (Years) Price of...
Below is a list of prices for zero-coupon bonds of various maturities. Maturity (Years) Price of $1,000 Par Bond (Zero-Coupon) 1 $ 945.80 2 877.23 3 803.34 a. A 4.8% coupon $1,000 par bond pays an annual coupon and will mature in 3 years. What should the yield to maturity on the bond be? (Round your answer to 2 decimal places.) b. If at the end of the first year the yield curve flattens out at 8.4%, what will be...
Refer to Figure 15.1, which lists the prices of various Microsoft options. Use the data in...
Refer to Figure 15.1, which lists the prices of various Microsoft options. Use the data in the figure to calculate the payoff and the profit/loss for investments in each of the following July 2017 expiration options on a single share, assuming that the stock price on the expiration date is $72. (Leave no cells blank - be certain to enter "0" wherever required. Loss amounts should be indicated by a minus sign. Round "Profit/Loss" to 2 decimal places.) Figure 15.1:...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT