Homework 2

docx

School

University of New Mexico, Main Campus *

*We aren’t endorsed by this school

Course

1350

Subject

Economics

Date

Jan 9, 2024

Type

docx

Pages

Uploaded by ChancellorFlag12951

HOMEWORK 2 ALYSANDRA DOMINGUEZ Dell; 15.00% Emachines; 6.00% Gateway; 15.00% Hewlet Packard; 20.00% IBM; 10.00% Sharpe; 4.00% Sony; 18.00% Toshiba; 12.00% PC Laptop Computer Businesses Dell Emachines Gateway Hewlet Packard IBM Sharpe Sony Toshiba

Del l Emac hines Gat eway Hewl et Packard IBM Sha rpe Sony Toshi ba 0% 5% 10% 15% 20% 25% PC Laptop Computer Businesses 2.  A. Categorical  B. Categorical  C. Categorical  D. Quantitative  E. Quantitative  F. Categorical  G. Quantitative 3. A comparative comparison or study of two sets of automobiles, American cars, and Japanese cars, with respect to some variable or factors appears to be the goal of gathering the data above. The 3

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

information probably seeks to evaluate or compare these automobiles' abilities, traits, or other aspects. b. The dependent variable, miles per gallon, is measured quantitatively (N.O.I.R. This is so that it may reflect numerical measurements of fuel economy that can be statistically compared and studied. c. 4

d. The shape of American Cars is symmetric. On the other hand, the shape of Japanese cars is right skewed. e. Japanese cars mean is higher than American cars averaging (25.71 vs. 21.36). f. Compared to Japanese cars, which have a standard deviation of 6.22, American cars have a slightly higher standard deviation of 6.53. As a result, as compared to Japanese cars, the data for American cars is more spread or has a higher standard deviation. g. American cars have a larger outlier. a. The mode for American cars is 23 MPG (it is mentioned three times). The mode for Japanese cars is 21 MPG (it is mentioned three times). b. The mode reflects the average miles per gallon for each group of cars. The most typical fuel economy rating for American car models is 23 MPG, whereas for Japanese cars it is 21 MPG. Accordingly, the most common fuel economy rating for American car models is 23 MPG, whereas the most common rating for Japanese cars is 21 MPG. c. Unless the outlier's value becomes the value that occurs the most frequently, adding a single outlier to the data is unlikely to alter the mode. Since the mode is decided by the frequency of values, an outlier won't have an impact on the mode unless it happens more frequently than the other modes. d. American cars: 22 MPG Japanese cars: 28 MPG e. When the data are ordered in ascending order, the median indicates the middle value in each dataset. The average miles per gallon for American cars is 22 MPG, which means that half of them have a fuel economy of 22 MPG or less and the other half have a fuel efficiency of 22 MPG or greater. The average fuel economy for Japanese cars is 28 MPG, which means that half of them have a fuel efficiency of 28 MPG or less, while the other half have a fuel efficiency of 28 MPG or greater. 5

f. Particularly if the outlier differs greatly from the rest of the data, adding one outlier might have a negligible impact on the median. In comparison to the mean, the median is more resilient to extreme values and less likely to be drawn toward the outlier. g. American cars: The mean is approximately 21.36 MPG. Japanese cars: The mean is approximately 25.71 MPG. h. The average fuel economy score for each car in each category is represented by the mean. The average MPG for American car is around 21.36, whereas the average MPG for Japanese cars is around 25.71. i. The mean can be dramatically impacted by the addition of a single outlier, particularly if the outlier differs greatly from the rest of the data. The mean can be pushed in the direction of the outlier since it is sensitive to extreme numbers. j. When attempting to pinpoint the dataset's most prevalent value, the mode is helpful. It reveals which fuel economy rating is used the most commonly in this situation. However, if there are several modes or the data is dispersed, it might not give a comprehensive summary of the information. The median gives a measurement of the data's center location and is resistant to outliers. When you wish to explain the intermediate value or when the data may include extreme values, this is an excellent option. In this instance, it makes it obvious what each group's middle fuel efficiency rating is. The mean, which indicates the data's average, is sensitive to outliers. When the data is somewhat regularly distributed and there are no egregious outliers, it is adequate. However, in this instance, outliers have an impact on the mean, making it less appropriate for summing up the data. The median is a preferable option for describing the central tendency of fuel economy for both American and Japanese cars because the data does not seem to be regularly distributed and has some fluctuation. It offers a more reliable depiction of the dataset's middle value and is less influenced by outliers. 6

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

a. For American cars: Range = Maximum – Minimum Range = 32 MPG - 13 MPG = 19 MPG For Japanese cars: Range = Maximum – Minimum Range = 38 MPG - 17 MPG = 21 MPG b. The impact on the range of adding an 8 MPG car to each group would be as follows: For American cars, the range would increase to Range = 32 MPG - 8 MPG = 24 MPG, while the new minimum number would be 8 MPG. For Japanese cars, the range would increase to Range = 38 MPG - 8 MPG = 30 MPG, and the new minimum number would be 8 MPG. A very low-value outlier like 8 MPG widens the range greatly since it lowers the minimum value below the initial minimum value. The range expands as a measure of the distribution of data. c. American cars: The standard deviation is approximately 6.53 MPG. Japanese cars: The standard deviation is approximately 6.22 MPG. d. The average departure of the data points from the mean is quantified by the sample standard deviation. The average miles per gallon deviation for American cars is 6.53 MPG, which indicates a considerable level of fuel economy variation throughout the American car category. The average fuel economy deviation for Japanese cars is 6.22 MPG, which indicates a little lower level of fuel efficiency variation within the Japanese car category. e. The sample standard deviation would change noticeably if a car that achieved 58 mpg was added to either group: For American cars: Due to the new data point at 58 MPG being much higher than the other values and resulting in more variability, the sample standard deviation would probably rise. For Japanese cars: Because the new data point at 58 MPG is much higher than the other values, contributing to increased unpredictability, the sample standard deviation would also probably rise. The dispersion and variability of the data are increased by the addition of a single extreme outlier with a high value, such as 58 7

MPG, which is represented in a greater sample standard deviation. a. For American cars: Minimum = 13 MPG First Quartile (Q1) = 16.5 MPG Median (Q2) = 22 MPG Third Quartile (Q3) = 23.5 MPG Maximum = 32 MPG For Japanese cars: Minimum = 17 MPG First Quartile (Q1) = 21 MPG Median (Q2) = 28 MPG Third Quartile (Q3) = 30 MPG Maximum = 38 MPG 8

Related Documents

Home assignment 10.pdf

Negotiations Assignment FINAL.pdf

2.2.5 Practice_ Illustrating Supply and Demand.pdf

chapter 1 test.odt

math 240 module 3-3 real estate revised (1).docx

1.3.5 Practice_ Analyzing a Production Possibilities Curve.pdf

DC2-4.pdf

Week 3 Discussion.docx

Week 2 Discussion.docx

Business Brief 4 .pdf

3 - Data Analysis HW (2).docx

apec1201_exercise_7.xlsx

Recommended textbooks for you

Principles of Economics 2e

Economics

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:OpenStax

Principles of Microeconomics (MindTap Course List)

Economics

ISBN:9781305971493

Author:N. Gregory Mankiw

Publisher:Cengage Learning

Exploring Economics

Economics

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:SAGE Publications, Inc

Managerial Economics: Applications, Strategies an...

Economics

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:Cengage Learning

Essentials of Economics (MindTap Course List)

Economics

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:Cengage Learning

Brief Principles of Macroeconomics (MindTap Cours...

Economics

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Principles of Economics 2e
Economics
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:OpenStax
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Managerial Economics: Applications, Strategies an...
Economics
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours...
Economics
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:Cengage Learning