Question

In: Statistics and Probability

1. If an asset declines in value from $5,000 to $3,300 over nine years, what is...

1. If an asset declines in value from $5,000 to $3,300 over nine years, what is the mean annual growth rate in the asset’s value over these nine years? Enter your answer as a percentage. If needed, round your answer to two decimal digits.

2. Consider a sample with data values of 27, 25, 20, 15, 30, 34, 28, and 25. Compute the 20th, 25th, 63rd, and 73rd percentiles. If needed, round your answers to two decimal digits.

Percentile	Value
20%
25%
63%
73%

Suppose that the average waiting time for a patient at a physician's office is just over 29 minutes. In order to address the issue of long patient wait times, some physicians' offices are using wait-tracking systems to notify patients of expected wait times. Patients can adjust their arrival times based on this information and spend less time in waiting rooms. The following data show wait times (in minutes) for a sample of patients at offices that do not have a wait-tracking system and wait times for a sample of patients at offices with a wait-tracking system.

Click on the datafile logo to reference the data.

Without Wait- Tracking System	With Wait- Tracking System
24	31
67	11
17	14
20	18
31	12
44	37
12	9
23	13
16	12
37	15

(b)

What are the variance and standard deviation of patient wait times for offices with a wait-tracking system?

If required, round your answer to two decimal places. Do not round intermediate calculations.

Variance	=
Standard deviation	=

What are the variance and standard deviation of patient wait times for visits to offices without a wait-tracking system?

If required, round your answer to two decimal places. Do not round intermediate calculations.

Variance	=
Standard deviation	=

Consider a sample with data values of 10, 22, 13, 19, and 15.

(a)

Compute the mean and median.

Mean	=
Median	=

(b)

Consider a sample with data values 10, 22, 13, 19, 15, and 13. How would you expect the mean and median for these sample data to compare to the mean and median for part a (higher, lower, or the same)?

The input in the box below will not be graded, but may be reviewed and considered by your instructor.

Compute the mean and median for the sample data 10, 22, 13, 19, 15, and 13.

If required, round your answers to one decimal place.

Mean	=
Median	=

Solutions

Expert Solution

orchestra answered 1 year ago

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