Annual sales, in millions of dollars, for pharmaceutical companies follow. 8,324 1,360 1,854 8,790 2,434 11,299 603 14,138 6,387 1,832 2,790 1,342 10,393 7,403 3,980 4,298 732 2,106 3,616 5,736 8,223 a. Provide a five-number summary. Smallest value First quartile Median Third quartile Largest value b. Compute the lower and upper limits (to 2 decimals). If required, enter negative values as negative numbers. Lower limit Upper limit c. Do the data contain any outliers? - Select your answer -Yes, the data contain outliersNo, the data do not contain outliersItem 8 d. Johnson & Johnson's sales are the largest on the list at million. Suppose a data entry error (a transposition) had been made and the sales had been entered as million. Would the method of detecting outliers in part (c) identify this problem and allow for correction of the data entry error? - Select your answer -Yes, a transposition would have produced an outlier, and a review would have found itNo, a transposition would have produced an outlier but a review would not have found itNo, a transposition would not have produced an outlierItem 9 e. Which of the following box plots accurately displays the data set? 1. 2. 3. - Select your answer -Box plot #1Box plot #2Box plot #3Item 10
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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Annual sales, in millions of dollars, for pharmaceutical companies follow.
a. Provide a five-number summary.
b. Compute the lower and upper limits (to 2 decimals). If required, enter negative values as negative numbers.
c. Do the data contain any outliers? - Select your answer -Yes, the data contain outliersNo, the data do not contain outliersItem 8 d. Johnson & Johnson's sales are the largest on the list at million. Suppose a data entry error (a transposition) had been made and the sales had been entered as million. Would the method of detecting outliers in part (c) identify this problem and allow for correction of the data entry error? - Select your answer -Yes, a transposition would have produced an outlier, and a review would have found itNo, a transposition would have produced an outlier but a review would not have found itNo, a transposition would not have produced an outlierItem 9 e. Which of the following box plots accurately displays the data set?
- Select your answer -Box plot #1Box plot #2Box plot #3Item 10 |
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