Question 2 The Excel output below summarises the purchase amounts, in dollars, for a random sample of 83 Rocky (an online music store) customer downloads. Rocky Purchase Amownt (RM) Mean A 30 Standard Error в 25 Median 75.25 20 Q1 Q3 64.87 82.51 15 Mode #N/A 10 Standard Deviation 16.15 Sample Variance 5. Kurtosis 2.13 20 30 40 50 s0 70 s0 90 100 Skewness D 110 Range E Purchase Amount (dollars) Minimum 16.39 Maximum 108.1 Sum 6093.51 Count 83 a. Find the values of A, B, C, D and E in the output above. b. Which are the best measures of central tendency and dispersion that should be used to describe this distribution? Give brief reasons. What are their values and interpret them? c. Rocky is offering a RM 25 download voucher to each customer who purchases more than RM 100 worth of music in one transaction, in an attempt to attract more customers to their website. From the histogram, will Rocky offer many of its customers the RM 25 gift voucher? Explain briefly. d. It is known that previous Rocky customer purchase amounts are normally distributed with mean RM 75 and standard deviation of RM 24. If Rocky collects a sample of 119 transactions, what is the probability the average purchase amount recorded is between RM 70 and RM 71.50? Aauanbag

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question

please answer:

Question 2
The Excel output below summarises the purchase amounts, in dollars, for a random
sample of 83 Rocky (an online music store) customer downloads.
Rocky Purchase Amount (RM)
Мean
A
30
Standard Error
B
25
Median
75.25
20
Q1
64.87
Q3
82.51
15
Mode
#N/A
10
Standard Deviation
16.15
Sample Variance
Kurtosis
2.13
so 60 70 80
Skewness
D
20 30 40
90
100
110
Range
E
Purchase Amount (dollars)
Minimum
16.39
Maximum
108.1
Sum
6093.51
Count
83
a. Find the values of A, B, C, D and E in the output above.
b. Which are the best measures of central tendency and dispersion that should be used
to describe this distribution? Give brief reasons. What are their values and interpret
them?
c. Rocky is offering a RM 25 download voucher to each customer who purchases
more than RM 100 worth of music in one transaction, in an attempt to attract more
customers to their website. From the histogram, will Rocky offer many of its
customers the RM 25 gift voucher? Explain briefly.
d. It is known that previous Rocky customer purchase amounts are normally
distributed with mean RM 75 and standard deviation of RM 24. If Rocky collects
a sample of 119 transactions, what is the probability the average purchase amount
recorded is between RM 70 and RM 71.50?
in
Aouanbasg
Transcribed Image Text:Question 2 The Excel output below summarises the purchase amounts, in dollars, for a random sample of 83 Rocky (an online music store) customer downloads. Rocky Purchase Amount (RM) Мean A 30 Standard Error B 25 Median 75.25 20 Q1 64.87 Q3 82.51 15 Mode #N/A 10 Standard Deviation 16.15 Sample Variance Kurtosis 2.13 so 60 70 80 Skewness D 20 30 40 90 100 110 Range E Purchase Amount (dollars) Minimum 16.39 Maximum 108.1 Sum 6093.51 Count 83 a. Find the values of A, B, C, D and E in the output above. b. Which are the best measures of central tendency and dispersion that should be used to describe this distribution? Give brief reasons. What are their values and interpret them? c. Rocky is offering a RM 25 download voucher to each customer who purchases more than RM 100 worth of music in one transaction, in an attempt to attract more customers to their website. From the histogram, will Rocky offer many of its customers the RM 25 gift voucher? Explain briefly. d. It is known that previous Rocky customer purchase amounts are normally distributed with mean RM 75 and standard deviation of RM 24. If Rocky collects a sample of 119 transactions, what is the probability the average purchase amount recorded is between RM 70 and RM 71.50? in Aouanbasg
Expert Solution
steps

Step by step

Solved in 2 steps with 3 images

Blurred answer
Knowledge Booster
Algebraic Operations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman