Question

In: Statistics and Probability

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow. 8,576 1,401 1,910 9,057 2,508...

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow.

8,576	1,401	1,910	9,057	2,508	11,641
621	14,138	6,581	1,887	2,874	1,383
10,708	7,628	4,100	4,428	754	2,170
3,726	5,910	8,472

compute the lower and upper limits (to 2 decimals). If required enter negative value as negative number.

Lower limit____

Upper limit____

Does the data contain any outliers?

Expert Solution

first arrange the data in ascending order

621
754
1383
1401
1887
1910
2170
2508
2874
3726
4100
4428
5910
6581
7628
8472
8576
9057
10708
11641
14138

Now, divide the data sets into two equal parts, i.e. bottom 10 data values on one side and top 10 data values on other side

Lower half is

621
754
1383
1401
1887
1910
2170
2508
2874
3726

First quartile = median of lower half = halfway between two middle values

two middles values are 1887 and 1910

So, First quartile = (1887+1910)/2 = 1898.5 = Q1

Upper half is

4428
5910
6581
7628
8472
8576
9057
10708
11641
14138

Third quartile = median of upper half = halfway between two middle values

two middles values are 8472 and 8576

So, third quartile = (8472+8576)/2 = 8524 = Q3

Interquartile range or IQR = Q3 - Q1 = 8524 - 1898.5 = 6625.5

Lower limit of data set = Q1- 1.5*IQR

= 1898.5- (1.5*6625.5)

= 1898.5 - 9938.25

= -8039.75

Upper limit of data set = Q3+ 1.5*IQR

= 8524+(1.5*6625.5)

= 8524 + 9938.25

= 18462.25

No, there is no outlier because none of the data set is outside the range (-8039.75, 18462.25)

orchestra answered 2 years ago

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow. 8408 1374 1872 8879 2459...

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow. 8408 1374 1872 8879 2459 11413 608 14138 6452 1850 2818 1356 10498 7478 4019 4341 739 2127 3653 5794 8305 A) Compute the mean of the annual sales. B) Compute the standard deviation of the annual sales. C) Compute the corresponding z-score of annual sales of $14138 million dollars. According to z-score method is it considered an outlier? D) Provide a five-number summary. E) What is the location...

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow. 8,324 1,360 1,853 8,790 2,434...

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow. 8,324 1,360 1,853 8,790 2,434 11,299 602 14,138 6,387 1,832 2,790 1,342 10,393 7,403 3,979 4,298 732 2,106 3,616 5,736 8,222 a. Provide a five-number summary. If needed, round your answer to a whole number b. Compute the lower and upper limits. Enter negative amounts with a minus sign

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow. 8,072 1,319 1,798 8,524 2,361...

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow. 8,072 1,319 1,798 8,524 2,361 10,956 585 14,138 6,194 1,776 2,705 1,302 10,078 7,179 3,859 4,167 709 2,042 3,507 5,562 7,974 Provide a five-number summary. Smallest value First quartile Median Third quartile Largest value Compute the lower and upper limits. Lower limit Upper limit Do the data contain any outliers? Johnson & Johnson's sales are the largest on the list at $14,138 million. Suppose a data entry error (a...

Companies spend millions, if not billions of dollars on marketing every year. Pick a company that...

Companies spend millions, if not billions of dollars on marketing every year. Pick a company that does significant marketing and is a public company. You will need to look up the company’s annual report to find the total amount spent on marketing for the last calendar year (20XX). Once you find the information from the company’s website and annual report, explain the number and what the company reported spending the money on. Do some mathematical comparisons, total revenue as compared...

The values of Alabama building contracts (in millions of dollars) for a 12-month period follow: 240...

The values of Alabama building contracts (in millions of dollars) for a 12-month period follow: 240 350 230 260 280 320 220 310 240 310 240 230 a. Construct a time series plot. What type of pattern exists in the data? b. Compare a three-month moving average forecast with an exponential smoothing forecast. Use alpha =0.2 Which provides the better forecasts based on MSE? c. What is the forecast for the next month?

The budget (in millions of dollars) and worldwide gross (in millions of dollars) for eight movies...

The budget (in millions of dollars) and worldwide gross (in millions of dollars) for eight movies are shown below. Complete parts (a) through (c). Budget, x Gross, y 206 253 205 302 200 423 199 688 182 688 175 1035 173 1878 168 1225 (a) Display the data in a scatter plot (b) Calculate the correlation coefficient r. (c) Make a conclusion about the type of correlation.

Pharmaceutical companies spend billions of dollars per year on research and development of new drugs. The...

Pharmaceutical companies spend billions of dollars per year on research and development of new drugs. The pharmaceutical company must subject each new drug to lengthy and involved testing before receiving the necessary permission from the Food and Drug Administration (FDA) to market the drug. The FDA's policy is that the pharmaceutical company must provide substantial evidence that a new drug is safe prior to receiving FDA approval, so that the FDA can confidently certify the safety of the drug to...

How come despite spending billions of dollars pharmaceutical companies are not able to find 'the magic...

How come despite spending billions of dollars pharmaceutical companies are not able to find 'the magic bullet' to cure mental disorders? (Note: your response must focus only on the biological/anatomical/physiological aspects. Any response that is based on social/economic factors will not be accepted. In the past some students focused on expressing views on how evil the pharmaceutical companies are and they deliberately refuse to find the magic bullet because it is not in their economic interest. Those students received score...

Pharmaceutical companies spend billions of dollars every year on the research and development of new drugs....

Pharmaceutical companies spend billions of dollars every year on the research and development of new drugs. Suppose a pharmaceutical company estimates that if they invest $1 billion on the development of a new drug, they can expect to earn $500 million in accounting profit as a result (their stream of future revenue would be $500 million higher than all of their explicit costs, including the R&D costs). Just based on this information (that this company can expect to earn $500...

Listed below are the top 10 annual salaries (in millions of dollars) of TV personalities.

Listed below are the top 10 annual salaries (in millions of dollars) of TV personalities. Find the range, variance, and standard deviation for the sample data. Given that these are the top 10 salaries, do we know anything about the variation of salaries of TV personalities in general? 39 37 35 28 20 19 17 16 15.5 14.9The range of the sample data is $ million. (Type an integer or a decimal.)The variance of the sample data is (Round to...