8th Edition

ISBN: 9780135179802

Author: Levine

Publisher: PEARSON CO

Concept explainers

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 tw…

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 o…

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 compar…

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Textbook Question

Chapter 3, Problem 3.4LB

The following set of data is from a sample of n = 5:

7 â€” 5 â€” 879

Calculate the mean, median, and mode.
Calculate the range, variance, standard deviation, and coefficient of variation.
Calculate the Z scores Are there any outliers?
Describe the shape of the data set.

Definition Definition Measure of central tendency that is the value that occurs most frequently in a data set. A data set may have more than one mode if multiple categories repeat an equal number of times. For example, in a data set with five item—3, 5, 5, 29, 473—the mode is 5 because it occurs twice and no other value occurs more than once. On a histogram or bar chart, the element with the highest bar represents the mode. Therefore, the mode is sometimes considered the most popular option. The mode is useful for nominal or categorical data (e.g., the most common color car that users purchase), but it is problematic for continuous data because it is more likely not to have any value that is more frequent than the other.

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Chapter 3, Problem 3.3LB

Chapter 3, Problem 3.5AC

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Chapter 3 Solutions

EP BUSINESS STATISTICS:FIRST COURSE-ACC

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The following set of data is from a sample of n = 5: 7 â€” 5 â€” 879 Calculate the mean , median , and mode . Calculate the range , variance, standard deviation, and coefficient of variation. Calculate the Z scores Are there any outliers? Describe the shape of the data set.

Solution Summary: The author calculates the mean, median, and mode for the given data set.

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