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Name: Suppose a bank branch, located in a commercial district, is concerne
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Description: Suppose a bank branch, located in a commercial district, is concerned with its service during the noon-to-1 pm lunch period. The waiting times, in minutes, collected from a sample of 15 customers during this hour, are listed below. Complete par

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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Suppose a bank branch, located in a commercial district, is concerned with its service during the noon-to-1 pm lunch period. The waiting times, in minutes, collected from a sample of 15 customers during this hour, are listed below. Complete parts (a) through (d) below.

4.12	5.45	3.06	5.22	4.78	2.19	3.44	3.46
4.61	6.05	0.38	5.31	6.56	6.45	3.87

A. Compute the mean and median.

B. Compute the variance, standard deviation, range, coefficient of variation, and Z scores. Are there any outliers? Explain.

C. Are the data skewed? If so, how? Choose the correct response below.

1. Yes, the data are right-skewed because the mean is greater than the median.

2.Yes, the data are left-skewed because the mean is less than the median.

3. No, the data are not skewed because the mean and median are equal.

4. No, the data are not skewed because there are no outliers.

D. As a customer walks into the branch office during the lunch hour, he asks the branch manager how long he can expect to wait. The branch manager replies, "Almost certainly less than 5 minutes." On the basis of the results of (a) through (c), evaluate the accuracy of this statement. Choose the correct response below.

1. Since the range of values is greater than 5 minutes, the customer is likely to experience a waiting time in excess of 5 minutes.

2. Since the mean and median are both less than 5 minutes, the customer is likely to experience a waiting time less than 5 minutes.

3. Since the standard deviation is less than 5 minutes, the customer is likely to experience a waiting time less than 5 minutes.

4. Although both the mean and median are greater than 5 minutes, all values greater than 5 minutes have a Z score greater than +3.0, thus they are outliers. This means the branch manager's statement is accurate.

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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