Question

In: Statistics and Probability

Consider the following sample data. Sample A: 4, 6, 8 Sample B: 63, 65, 67 Sample...

Consider the following sample data. Sample A: 4, 6, 8 Sample B: 63, 65, 67 Sample C: 1,010; 1,012; 1,014 (a) Find the mean and standard deviation for each sample. Sample A: Sample B: Sample C: Mean 6 6 Correct 65 65 Correct 1,002 1,002 Incorrect Sample Standard Deviation 3 3 Incorrect 3 3 Incorrect 3 3 Incorrect (b) What does this exercise show about the standard deviation? The idea is to illustrate that the standard deviation is not a function of the value of the mean. The idea is to illustrate that the standard deviation is a function of the value of the mean.

Solutions

Expert Solution

FORMULAS USED:

SAMPLE MEAN:

SAMPLE STANDARD DEVIATION:

(a) MEAN AND STANDARD DEVIATION FOR GIVEN THREE SAMPLES:

SAMPLE A:

Sample mean

Sample standard deviation

  
   4 -2    4
   6    0    0
   8    2    4

  

SAMPLE B:

Sample mean

Sample standard deviation

  
   63 -2    4
   65    0    0
   67    2    4

  

SAMPLE C:

Sample mean

Sample standard deviation

  
   1010 -2    4
   1012    0    0
   1014    2    4

  

(b) STANDARD DEVIATION:

Standard deviation measures the spread of a data distribution and is a function of the value of the mean. Since the standard deviation (2) is close to 0 indicates that the data points tend to be close to the mean. And the variability of data points around the mean is same for all three samples.


Related Solutions

Assume the following three samples of data: Sample A: 4, 5, 6, 7, 8 Sample B:...
Assume the following three samples of data: Sample A: 4, 5, 6, 7, 8 Sample B: 3, 5, 6, 7, 9 Sample C: 2, 5, 6, 7, 10 Which of the above samples (A, B, or C) will have the smallest variance (s2)? Sample A Sample B Sample C The variance of the three samples will be the same
Consider the following data: 43 54 55 63 67 68 69 77 85 Suppose that the...
Consider the following data: 43 54 55 63 67 68 69 77 85 Suppose that the last value is actually 115 instead of 85. What effect would this new maximum have on the median of the data? increase the value of the median decrease the value of the median no effect Approximately, what z-score divides the lower 75% of the data from the upper 25%? z = 0.75   z = 0.675   z = - 0.675   z = -0.25   none of...
Year Salary (A) Salary (B) 1 65 55 2 65 57 3 65 59 4 67...
Year Salary (A) Salary (B) 1 65 55 2 65 57 3 65 59 4 67 62 5 69 64 6 72 67 7 74 69 8 77 72 9 79 75 10 82 78 11 84 81 12 87 84 13 89 88 14 89 91 15 89 95 16 92 95 17 92 95 18 94 95 19 94 95 20 96 99 1. Economics assumes people are interested in their rational self interest. Suppose a person works...
Consider a sample with a mean of 65 and a variance of 4. What is the...
Consider a sample with a mean of 65 and a variance of 4. What is the minimum percentage of data within the range 60 to 70. Show work a. .9043 b. .7672 c. .8400 d. .9401 e. None
Consider the following. n = 8 measurements: 4, 3, 7, 8, 5, 6, 4, 6 Calculate...
Consider the following. n = 8 measurements: 4, 3, 7, 8, 5, 6, 4, 6 Calculate the sample variance, s2, using the definition formula. (Round your answer to four decimal places.) s2 = Calculate the sample variance, s2 using the computing formula. (Round your answer to four decimal places.) s2 = Find the sample standard deviation, s. (Round your answer to three decimal places.) s =
Using the same data… 2 3 4 4 4 6 6 6 7 8 8 9...
Using the same data… 2 3 4 4 4 6 6 6 7 8 8 9 10 10 11 12 16 16 28 46 (d) [5 pts] Determine the 5# summary. (e) Determine the lower and upper fence to determine if there are any outliers. (f) Draw and carefully label a modified boxplot for this data. (g) What is the shape of the distribution (symmetric, skewed left, or skewed right). Explain.
Consider the following two sample data sets. Set​ 1: 5 3 2 8 6 Set​ 2:...
Consider the following two sample data sets. Set​ 1: 5 3 2 8 6 Set​ 2: 3 12 13 2 7 a. Calculate the coefficient of variation for each data set. b. Which data set has more​ variability? a. The coefficient of variation for set 1 is nothing ​%. ​(Round to one decimal place as​ needed.)
Consider the following data table: x 8 5 4 6 2 5 3 y 1 3...
Consider the following data table: x 8 5 4 6 2 5 3 y 1 3 6 3 7 2 5 (15 points) Create a scatterplot of the data either by hand or with a computer.  Does there appear to be a linear relationship between x and y?  If so, what is the strength and direction of the relationship? (20 points) Give the Simple Linear Regression Model, using x as the predictor variable and y as the response variable.  What is the meaning...
Consider the following time series data: Month 1 2 3 4 5 6 7 8 Value...
Consider the following time series data: Month 1 2 3 4 5 6 7 8 Value 24 13 21 12 20 23 15 25 Compute MSE using the most recent value as the forecast for the next period. What is the forecast for month 9? Compute MSE using the average of all the data available as the forecast for the next period. What is the forecast for month 9? Which method appears to provide the better forecast?
Consider the data set. 2, 4, 6, 8, 9 (a) Find the range. (Enter an exact...
Consider the data set. 2, 4, 6, 8, 9 (a) Find the range. (Enter an exact number.) (b) Use the defining formula to compute the sample standard deviation s. (Enter a number. Round your answer to two decimal places.) (c) Use the defining formula to compute the population standard deviation σ. (Enter a number. Round your answer to two decimal places.)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT