Answer these parts to Objective number A 2. What is the single most important advantage of...

Answer these parts to Objective number A

2. What is the single most important advantage of the median as a measure of location?

A. not affected by extreme outliers

B. statistically efficient

C. don’t have to know all individual values in order to calculate it

D. always an observable value

E. more than one of the above

3. The Graco Distribution Center in Rogers MN has automated storage/retrieval lanes for much of their inventory. An audit of inventory is conducted weekly for inventory counts. The results for a random sample of 8 inventory counts found the following number of inventory discrepancies; 9, 67, 19, 8, 18, 8, 15, 8. Based on the data, which measure of variability would you place most weight on?
A. median
B. InterQuartile Range
C. standard deviation
D. range

E. coefficient of variation

4. The Graco Distribution Center in Rogers MN has automated storage/retrieval lanes for much of their inventory. An audit of inventory is conducted weekly for inventory counts. The results for a random sample of 8 inventory counts found the following number of inventory discrepancies; 9, 67, 19, 8, 18, 8, 15, 8. Find the median.
A. 8
B. 12
C. 18
D. 37.5

E. none of the above

5. The Graco Distribution Center in Rogers MN has automated storage/retrieval lanes for much of their inventory. An audit of inventory is conducted weekly for inventory counts. The results for a random sample of 8 inventory counts found the following number of inventory discrepancies; 9, 67, 19, 8, 18, 8, 15, 8. Find the standard deviation.
A. 18.00
B. 397.71
C. 24.50
D. 19.94

E. none of the above

Edina Reality is interested in drawing comparison on price variations between two neighborhoods Woodbury and Cottage Grove. Woodbury has x-bar of 120,000$ and a sample standard deviation of 2000$. Cottage grove has x-bar of 900,000$ and sample standard deviation of 10,000$. Which neighborhood has higher relative variability?

Woodbury has higher relative variability as compared to Cottage Grove.
Cottage Grove has higher relative variability as compared to Woodbury.
Both neighborhoods have same variability.
Cannot decide based on given information.

Expert Solution

orchestra answered 1 year ago

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