Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card)

6th Edition

ISBN: 9780357191484

Author: David R. Anderson; Dennis J. Sweeney; Thomas A. Williams

Publisher: Cengage Learning US

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Textbook Question

Chapter 2, Problem 45SE

Median Household Incomes. The file MedianHousehold contains the median household income for a family with two earners for each of the fifty states (American Community Survey).

a. Construct a frequency and a percent frequency distribution of median household income. Begin the first class at 65.0 and use a class width of 5.
b. Construct a histogram.
c. Comment on the shape of the distribution.
d. Which state has the highest median income for two-earner households?
e. Which state has the lowest median income for two-earner households?

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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Chapter 2, Problem 44SE

Chapter 2, Problem 46SE

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Chapter 2 Solutions

Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card)

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Solution Summary: The author explains the frequency and percent frequency distribution of median household income using the first class as 65.0 and class width as 5.

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