Ch 3 Class Template

Color Key Insert your data Calculate/Identify The Answer Data Analysis Auto Calculated Auto Calculated Decision 4. Enter the cell range.

Output House Prices Mean 600000 Standard Error 357770.88 Median 300000 Mode 100000 Standard Deviation 800000 Sample Variance 6.4E+11 Kurtosis 4.130127 Skewness 2.0068359 Range 1900000 Minimum 100000 Maximum 2000000 Sum 3000000 Count 5 Confidence Level(95.0%) 993331.2 4. Enter the cell range. 5. Check the Summary Statistics box. 6. Click OK

) RTILE.EXC(range,1) ange) RTILE.EXC(range,3) ) Excel Online: Click on Insert => Click on Data => Click on Store => Type in XLMiner Analysis Toolpak Data. Data Analysis. Descriptive Statistics ck OK.

Enter values below 53 55 71 Enter Descriptive Statistics here --> Row1 What is the Mean, Median, & Mode? Mean Standard Error Median Mode Standard Deviation Sample Variance Kurtosis Skewness Range Minimum Maximum Sum Count Confidence Level(95.0%)

59 64 57 53 69 59.82 57 53 3 Mean =AVERAGE(Range) Median =MEDIAN(Range) Mode =MODE(Range) It appears =COUNTIF(Range,Mode)

February 33.0 January March 36.0 February April 34.0 March May 32.0 April June 34.0 May July 33.0 June August 34.0 July September 36.0 August October 37.0 September November 34.0 October December 35.0 a. Create previous year Descriptive Statistic below b. Create current year Descripti Mean 34.364 Mean Standard Error 0.452723622 Standard Error Median 34 Median Mode 34 Mode Standard Deviation 1.501514387 Standard Deviation Sample Variance 2.254545455 Sample Variance Kurtosis -0.52343479 Kurtosis Skewness 0.320464992 Skewness Range 5 Range Minimum 32 Minimum Maximum 37 Maximum Sum 378 Sum Count 11 Count Confidence Level(95.0%) 1.008731091 Confidence Level(95.0%) c. Previous Year Quartiles d. Current Year Quartiles 33 36 Month (previous year) Previous Downloads (thousands) Month (current year) Previous Downloads (thousands) Current Download (thousands) First Quartile =QUARTILE.EXC(range,1) First Quartile =QUARTILE.EXC(range,1) Third Quartile =QUARTILE.EXC(range,3) Third Quartile =QUARTILE.EXC(range,3)

Enter values below 20 11 17 12 5 33.5 5.79 Compute the variance =VAR.S(range) Compute the standard deviation. =STDEV.S(range)

The five-number summary consists of what five statistical measures? a. min, Q 1 , mean, Q 3 , max b. min, Q 1 , median, Q 3 , max c. Q 1 , Q 2 , mean, Q 3 , Q 4 d. Q 1 , Q 2 , median, Q 3 , Q 4

77 79 73 81

10 20 12 17 16 15 4 Observed Value (x) z-score Formulas 10 -1.25 20 1.25 12 -0.75 17 0.50 16 0.25 Compute the Mean =AVERAGE(range) Compute the standard deviation. =STDEV.S(range) Use either formula =(A12-$B$7)/$B$9 or =STANDARDIZE(x,mean,s)

Mean (xbar) 3000 Standard Deviation (s) 1100 a. Z-score x1 2200 -0.73 b. Z-score x2 4900 1.73 2200 is (below/above) 0.73 Standard Deviation below 4900 is (below/above) 1.73 Standard Deviation above Any outlier? Neither are outliar because none are less that -3 or greatier th x3 13000 9.09 13000 is 9.09 Standard Deviation above z-score =STANDARDIZE(x1,mean,s) z-score =STANDARDIZE(x2,mean,s) c. Interpret the z-scores in parts (a) and (b). Comment on whether either should be considered an d. If the cost for a backyard shed-office combination built in Albany, California, is x, should this z-score =STANDARDIZE(x3,mean,s)

the mean. the mean. han 3 the mean. The cost (is/is not) is an outlier. n outlier. Use absolute z-score values. s structure be considered an outlier? Explain.