Answered: Determine the standard deviation of the…

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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Question:

Determine the standard deviation of the checking account balances. Because Mr. Y does not deal with statistics daily, include a brief description of the standard deviation and other measures.

The bank has branch offices in four different places in Metro Manila: Makati, Manila, Quezon City and Pasig City. Mr. Y would like to know if there are differences in the mean checking account balance among the branches. If there are any differences, where do these differences occur?

My calculated result:

Branches	Mean balance	Median balance	Standard Deviation
Makati	128,138	139,700	47,432
Manila	187,965	195,800	35,088
Quezon	135,936	150,450	68,348
Pasig	142,346	148,700	70,922

Definition Definition Middle value of a data set. The median divides a data set into two halves, and it also called the 50th percentile. The median is much less affected by outliers and skewed data than the mean. If the number of elements in a dataset is odd, then the middlemost element of the data arranged in ascending or descending order is the median. If the number of elements in the dataset is even, the average of the two central elements of the arranged data is the median of the set. For example, if a dataset has five items—12, 13, 21, 27, 31—the median is the third item in ascending order, or 21. If a dataset has six items—12, 13, 21, 27, 31, 33—the median is the average of the third (21) and fourth (27) items. It is calculated as follows: (21 + 27) / 2 = 24.

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