68. Household Incomes. The following data represent a sample of 14 household incomes ($1000s). Answer the following questions based on this sample. 49.4 52.2 52.4 64.5 53.4 51.6 51.3 46.5 52.1 52.9 48.7 52.5 52.1 51.2 a. What is the median household income for these sample data? b. According to a previous survey, the median annual household income five years ago was $55,000. Based on the sample data above, estimate the percentage change in the median household income from five years ago to today. c. Compute the first and third quartiles.
68. Household Incomes. The following data represent a sample of 14 household incomes ($1000s). Answer the following questions based on this sample. 49.4 52.2 52.4 64.5 53.4 51.6 51.3 46.5 52.1 52.9 48.7 52.5 52.1 51.2 a. What is the median household income for these sample data? b. According to a previous survey, the median annual household income five years ago was $55,000. Based on the sample data above, estimate the percentage change in the median household income from five years ago to today. c. Compute the first and third quartiles.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:**Household Incomes**
The following data represent a sample of 14 household incomes (in thousands of dollars). Answer the following questions based on this sample.
- 49.4
- 52.4
- 53.4
- 51.3
- 52.1
- 48.7
- 52.1
- 52.2
- 64.5
- 51.6
- 46.5
- 52.9
- 52.5
- 51.2
**Questions:**
a. What is the median household income for these sample data?
b. According to a previous survey, the median annual household income five years ago was $55,000. Based on the sample data above, estimate the percentage change in the median household income from five years ago to today.
c. Compute the first and third quartiles.
d. Provide a five-number summary.
e. Using the z-score approach, do the data contain any outliers? Does the approach that uses the values of the first and third quartiles and the interquartile range to detect outliers provide the same results?
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