Find the Mean and Standard deviation.

Question

Want to see more full solutions like this?

Answer 1

Question

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Chapter 4, Problem 85CE

a.

To determine

Find the Mean and Standard deviation.

a.

Expert Solution

Answer to Problem 85CE

The Mean and Standard deviation is:

Measures	Week 1	Week 2	Week 3	Week 4
Mean	50	50	50	50
Standard deviation	10.61	10.61	10.61	10.61

Explanation of Solution

Calculation:

The data represents the weekend occupancy rates in the nine resort hotels at the time of off season.

For Week 1:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=AVERAGE(I1:I9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 1

Thus, the mean for Week 1 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=STDEV(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 2

Thus, the Standard deviation for Week 1 is 10.61.

For Week 2:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=AVERAGE(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 3

Thus, the mean for the week 2 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=STDEV(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 4

Thus, the Standard deviation for Week 2 is 10.61.

For Week 3:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=AVERAGE(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 5

Thus, the mean for Week 3 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=STDEV(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 6

Thus, the Standard deviation for Week 3 is 10.61.

For Week 4:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=AVERAGE(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 7

Thus, the mean for Week 4 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=STDEV(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 8

Thus, the Standard deviation for Week 4 is 10.61.

b.

To determine

Write the conclusion based on the measures of center and variability.

b.

Expert Solution

Explanation of Solution

By observing the values of mean and standard deviation, it states that the occupancy rate in the hotels is same for all the week ends during offseason. Therefore, it can be concluded that the distribution of the occupancy rate is normal.

c.

To determine

Calculate the median for the each week.

c.

Expert Solution

Answer to Problem 85CE

The Median for the occupancy rates is:

Measures	Week 1	Week 2	Week 3	Week 4
Median	50	52	56	47

Explanation of Solution

For Week 1:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=MEDIAN(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 9

Thus, the median for Week 1 is 50.

For Week 2:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=MEDIAN(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 10

Thus, the median for Week 2 is 52.

For Week 3:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=MEDIAN(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 11

Thus, the median for Week 3 is 56.

For Week 4:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=MEDIAN(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 12

Thus, the median for Week 4 is 47.

d.

To determine

Construct dot plot for each sample.

d.

Expert Solution

Answer to Problem 85CE

The dot plot for Week 1 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 13

The dot plot for Week 2 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 14

The dot plot for Week 3 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 15

The dot plot for Week 4 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 16

Explanation of Solution

Dot plot:

Procedure to draw a dot plot for Week 1:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 1, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 2:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 2, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 3:

Draw a horizontal line and mark the points from 36 to 64 with 4-point scale
For week 3, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 4:

Draw a horizontal line and mark the points from 35 to 70 with 5-point scale
For week 4, mark a point corresponding to each observation along the horizontal line.

Thus, the dot plot has been obtained for Week 1, Week 2, Week 3 and Week 4.

e.

To determine

Describe the things that have been learnt from the median and dot plot, that was not apparent from the means and standard deviation.

e.

Expert Solution

Explanation of Solution

The distribution of the occupancy rate is normal based on the value of mean and standard deviation. However, the median value and dot plot states that the distribution of the occupancy rate is little bit different.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Using the accompanying Home Market Value data and associated regression line, Market ValueMarket Valueequals=$28,416+$37.066×Square Feet, compute the errors associated with each observation using the formula e Subscript ieiequals=Upper Y Subscript iYiminus−ModifyingAbove Upper Y with caret Subscript iYi and construct a frequency distribution and histogram. LOADING... Click the icon to view the Home Market Value data. Question content area bottom Part 1 Construct a frequency distribution of the errors, e Subscript iei. (Type whole numbers.) Error Frequency minus−15 comma 00015,000less than< e Subscript iei less than or equals≤minus−10 comma 00010,000 0 minus−10 comma 00010,000less than< e Subscript iei less than or equals≤minus−50005000 5 minus−50005000less than< e Subscript iei less than or equals≤0 21 0less than< e Subscript iei less than or equals≤50005000 9…

The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c Overhead Costs Billable Hours345000 3000385000 4000410000 5000462000 6000530000 7000545000 8000

Using the accompanying Home Market Value data and associated regression line, Market ValueMarket Valueequals=$28,416plus+$37.066×Square Feet, compute the errors associated with each observation using the formula e Subscript ieiequals=Upper Y Subscript iYiminus−ModifyingAbove Upper Y with caret Subscript iYi and construct a frequency distribution and histogram. Square Feet Market Value1813 911001916 1043001842 934001814 909001836 1020002030 1085001731 877001852 960001793 893001665 884001852 1009001619 967001690 876002370 1139002373 1131001666 875002122 1161001619 946001729 863001667 871001522 833001484 798001589 814001600 871001484 825001483 787001522 877001703 942001485 820001468 881001519 882001518 885001483 765001522 844001668 909001587 810001782 912001483 812001519 1007001522 872001684 966001581 86200

Answer 2

Question

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Chapter 4, Problem 85CE

a.

To determine

Find the Mean and Standard deviation.

a.

Expert Solution

Answer to Problem 85CE

The Mean and Standard deviation is:

Measures	Week 1	Week 2	Week 3	Week 4
Mean	50	50	50	50
Standard deviation	10.61	10.61	10.61	10.61

Explanation of Solution

Calculation:

The data represents the weekend occupancy rates in the nine resort hotels at the time of off season.

For Week 1:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=AVERAGE(I1:I9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 1

Thus, the mean for Week 1 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=STDEV(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 2

Thus, the Standard deviation for Week 1 is 10.61.

For Week 2:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=AVERAGE(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 3

Thus, the mean for the week 2 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=STDEV(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 4

Thus, the Standard deviation for Week 2 is 10.61.

For Week 3:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=AVERAGE(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 5

Thus, the mean for Week 3 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=STDEV(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 6

Thus, the Standard deviation for Week 3 is 10.61.

For Week 4:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=AVERAGE(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 7

Thus, the mean for Week 4 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=STDEV(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 8

Thus, the Standard deviation for Week 4 is 10.61.

b.

To determine

Write the conclusion based on the measures of center and variability.

b.

Expert Solution

Explanation of Solution

By observing the values of mean and standard deviation, it states that the occupancy rate in the hotels is same for all the week ends during offseason. Therefore, it can be concluded that the distribution of the occupancy rate is normal.

c.

To determine

Calculate the median for the each week.

c.

Expert Solution

Answer to Problem 85CE

The Median for the occupancy rates is:

Measures	Week 1	Week 2	Week 3	Week 4
Median	50	52	56	47

Explanation of Solution

For Week 1:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=MEDIAN(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 9

Thus, the median for Week 1 is 50.

For Week 2:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=MEDIAN(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 10

Thus, the median for Week 2 is 52.

For Week 3:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=MEDIAN(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 11

Thus, the median for Week 3 is 56.

For Week 4:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=MEDIAN(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 12

Thus, the median for Week 4 is 47.

d.

To determine

Construct dot plot for each sample.

d.

Expert Solution

Answer to Problem 85CE

The dot plot for Week 1 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 13

The dot plot for Week 2 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 14

The dot plot for Week 3 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 15

The dot plot for Week 4 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 16

Explanation of Solution

Dot plot:

Procedure to draw a dot plot for Week 1:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 1, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 2:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 2, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 3:

Draw a horizontal line and mark the points from 36 to 64 with 4-point scale
For week 3, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 4:

Draw a horizontal line and mark the points from 35 to 70 with 5-point scale
For week 4, mark a point corresponding to each observation along the horizontal line.

Thus, the dot plot has been obtained for Week 1, Week 2, Week 3 and Week 4.

e.

To determine

Describe the things that have been learnt from the median and dot plot, that was not apparent from the means and standard deviation.

e.

Expert Solution

Explanation of Solution

The distribution of the occupancy rate is normal based on the value of mean and standard deviation. However, the median value and dot plot states that the distribution of the occupancy rate is little bit different.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Chapter 4, Problem 85CE

a.

To determine

Find the Mean and Standard deviation.

a.

Expert Solution

Answer to Problem 85CE

The Mean and Standard deviation is:

Measures	Week 1	Week 2	Week 3	Week 4
Mean	50	50	50	50
Standard deviation	10.61	10.61	10.61	10.61

Explanation of Solution

Calculation:

The data represents the weekend occupancy rates in the nine resort hotels at the time of off season.

For Week 1:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=AVERAGE(I1:I9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 1

Thus, the mean for Week 1 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=STDEV(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 2

Thus, the Standard deviation for Week 1 is 10.61.

For Week 2:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=AVERAGE(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 3

Thus, the mean for the week 2 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=STDEV(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 4

Thus, the Standard deviation for Week 2 is 10.61.

For Week 3:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=AVERAGE(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 5

Thus, the mean for Week 3 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=STDEV(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 6

Thus, the Standard deviation for Week 3 is 10.61.

For Week 4:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=AVERAGE(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 7

Thus, the mean for Week 4 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=STDEV(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 8

Thus, the Standard deviation for Week 4 is 10.61.

b.

To determine

Write the conclusion based on the measures of center and variability.

b.

Expert Solution

Explanation of Solution

By observing the values of mean and standard deviation, it states that the occupancy rate in the hotels is same for all the week ends during offseason. Therefore, it can be concluded that the distribution of the occupancy rate is normal.

c.

To determine

Calculate the median for the each week.

c.

Expert Solution

Answer to Problem 85CE

The Median for the occupancy rates is:

Measures	Week 1	Week 2	Week 3	Week 4
Median	50	52	56	47

Explanation of Solution

For Week 1:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=MEDIAN(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 9

Thus, the median for Week 1 is 50.

For Week 2:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=MEDIAN(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 10

Thus, the median for Week 2 is 52.

For Week 3:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=MEDIAN(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 11

Thus, the median for Week 3 is 56.

For Week 4:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=MEDIAN(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 12

Thus, the median for Week 4 is 47.

d.

To determine

Construct dot plot for each sample.

d.

Expert Solution

Answer to Problem 85CE

The dot plot for Week 1 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 13

The dot plot for Week 2 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 14

The dot plot for Week 3 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 15

The dot plot for Week 4 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 16

Explanation of Solution

Dot plot:

Procedure to draw a dot plot for Week 1:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 1, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 2:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 2, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 3:

Draw a horizontal line and mark the points from 36 to 64 with 4-point scale
For week 3, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 4:

Draw a horizontal line and mark the points from 35 to 70 with 5-point scale
For week 4, mark a point corresponding to each observation along the horizontal line.

Thus, the dot plot has been obtained for Week 1, Week 2, Week 3 and Week 4.

e.

To determine

Describe the things that have been learnt from the median and dot plot, that was not apparent from the means and standard deviation.

e.

Expert Solution

Explanation of Solution

The distribution of the occupancy rate is normal based on the value of mean and standard deviation. However, the median value and dot plot states that the distribution of the occupancy rate is little bit different.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Chapter 4, Problem 85CE

a.

To determine

Find the Mean and Standard deviation.

a.

Expert Solution

Answer to Problem 85CE

The Mean and Standard deviation is:

Measures	Week 1	Week 2	Week 3	Week 4
Mean	50	50	50	50
Standard deviation	10.61	10.61	10.61	10.61

Explanation of Solution

Calculation:

The data represents the weekend occupancy rates in the nine resort hotels at the time of off season.

For Week 1:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=AVERAGE(I1:I9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 1

Thus, the mean for Week 1 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=STDEV(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 2

Thus, the Standard deviation for Week 1 is 10.61.

For Week 2:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=AVERAGE(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 3

Thus, the mean for the week 2 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=STDEV(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 4

Thus, the Standard deviation for Week 2 is 10.61.

For Week 3:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=AVERAGE(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 5

Thus, the mean for Week 3 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=STDEV(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 6

Thus, the Standard deviation for Week 3 is 10.61.

For Week 4:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=AVERAGE(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 7

Thus, the mean for Week 4 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=STDEV(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 8

Thus, the Standard deviation for Week 4 is 10.61.

b.

To determine

Write the conclusion based on the measures of center and variability.

b.

Expert Solution

Explanation of Solution

By observing the values of mean and standard deviation, it states that the occupancy rate in the hotels is same for all the week ends during offseason. Therefore, it can be concluded that the distribution of the occupancy rate is normal.

c.

To determine

Calculate the median for the each week.

c.

Expert Solution

Answer to Problem 85CE

The Median for the occupancy rates is:

Measures	Week 1	Week 2	Week 3	Week 4
Median	50	52	56	47

Explanation of Solution

For Week 1:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=MEDIAN(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 9

Thus, the median for Week 1 is 50.

For Week 2:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=MEDIAN(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 10

Thus, the median for Week 2 is 52.

For Week 3:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=MEDIAN(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 11

Thus, the median for Week 3 is 56.

For Week 4:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=MEDIAN(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 12

Thus, the median for Week 4 is 47.

d.

To determine

Construct dot plot for each sample.

d.

Expert Solution

Answer to Problem 85CE

The dot plot for Week 1 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 13

The dot plot for Week 2 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 14

The dot plot for Week 3 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 15

The dot plot for Week 4 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 16

Explanation of Solution

Dot plot:

Procedure to draw a dot plot for Week 1:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 1, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 2:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 2, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 3:

Draw a horizontal line and mark the points from 36 to 64 with 4-point scale
For week 3, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 4:

Draw a horizontal line and mark the points from 35 to 70 with 5-point scale
For week 4, mark a point corresponding to each observation along the horizontal line.

Thus, the dot plot has been obtained for Week 1, Week 2, Week 3 and Week 4.

e.

To determine

Describe the things that have been learnt from the median and dot plot, that was not apparent from the means and standard deviation.

e.

Expert Solution

Explanation of Solution

The distribution of the occupancy rate is normal based on the value of mean and standard deviation. However, the median value and dot plot states that the distribution of the occupancy rate is little bit different.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 4, Problem 85CE

a.

To determine

Find the Mean and Standard deviation.

a.

Expert Solution

Answer to Problem 85CE

The Mean and Standard deviation is:

Measures	Week 1	Week 2	Week 3	Week 4
Mean	50	50	50	50
Standard deviation	10.61	10.61	10.61	10.61

Explanation of Solution

Calculation:

The data represents the weekend occupancy rates in the nine resort hotels at the time of off season.

For Week 1:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=AVERAGE(I1:I9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 1

Thus, the mean for Week 1 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=STDEV(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 2

Thus, the Standard deviation for Week 1 is 10.61.

For Week 2:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=AVERAGE(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 3

Thus, the mean for the week 2 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=STDEV(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 4

Thus, the Standard deviation for Week 2 is 10.61.

For Week 3:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=AVERAGE(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 5

Thus, the mean for Week 3 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=STDEV(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 6

Thus, the Standard deviation for Week 3 is 10.61.

For Week 4:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=AVERAGE(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 7

Thus, the mean for Week 4 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=STDEV(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 8

Thus, the Standard deviation for Week 4 is 10.61.

b.

To determine

Write the conclusion based on the measures of center and variability.

b.

Expert Solution

Explanation of Solution

By observing the values of mean and standard deviation, it states that the occupancy rate in the hotels is same for all the week ends during offseason. Therefore, it can be concluded that the distribution of the occupancy rate is normal.

c.

To determine

Calculate the median for the each week.

c.

Expert Solution

Answer to Problem 85CE

The Median for the occupancy rates is:

Measures	Week 1	Week 2	Week 3	Week 4
Median	50	52	56	47

Explanation of Solution

For Week 1:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=MEDIAN(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 9

Thus, the median for Week 1 is 50.

For Week 2:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=MEDIAN(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 10

Thus, the median for Week 2 is 52.

For Week 3:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=MEDIAN(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 11

Thus, the median for Week 3 is 56.

For Week 4:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=MEDIAN(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 12

Thus, the median for Week 4 is 47.

d.

To determine

Construct dot plot for each sample.

d.

Expert Solution

Answer to Problem 85CE

The dot plot for Week 1 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 13

The dot plot for Week 2 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 14

The dot plot for Week 3 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 15

The dot plot for Week 4 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 16

Explanation of Solution

Dot plot:

Procedure to draw a dot plot for Week 1:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 1, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 2:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 2, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 3:

Draw a horizontal line and mark the points from 36 to 64 with 4-point scale
For week 3, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 4:

Draw a horizontal line and mark the points from 35 to 70 with 5-point scale
For week 4, mark a point corresponding to each observation along the horizontal line.

Thus, the dot plot has been obtained for Week 1, Week 2, Week 3 and Week 4.

e.

To determine

Describe the things that have been learnt from the median and dot plot, that was not apparent from the means and standard deviation.

e.

Expert Solution

Explanation of Solution

The distribution of the occupancy rate is normal based on the value of mean and standard deviation. However, the median value and dot plot states that the distribution of the occupancy rate is little bit different.

Answer 6

Chapter 4, Problem 85CE

a.

To determine

Find the Mean and Standard deviation.

a.

Expert Solution

Answer to Problem 85CE

The Mean and Standard deviation is:

Measures	Week 1	Week 2	Week 3	Week 4
Mean	50	50	50	50
Standard deviation	10.61	10.61	10.61	10.61

Explanation of Solution

Calculation:

The data represents the weekend occupancy rates in the nine resort hotels at the time of off season.

For Week 1:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=AVERAGE(I1:I9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 1

Thus, the mean for Week 1 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=STDEV(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 2

Thus, the Standard deviation for Week 1 is 10.61.

For Week 2:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=AVERAGE(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 3

Thus, the mean for the week 2 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=STDEV(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 4

Thus, the Standard deviation for Week 2 is 10.61.

For Week 3:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=AVERAGE(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 5

Thus, the mean for Week 3 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=STDEV(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 6

Thus, the Standard deviation for Week 3 is 10.61.

For Week 4:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=AVERAGE(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 7

Thus, the mean for Week 4 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=STDEV(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 8

Thus, the Standard deviation for Week 4 is 10.61.

Answer 7

Chapter 4, Problem 85CE

a.

To determine

Find the Mean and Standard deviation.

Answer 8

a.

Expert Solution

Answer to Problem 85CE

The Mean and Standard deviation is:

Measures	Week 1	Week 2	Week 3	Week 4
Mean	50	50	50	50
Standard deviation	10.61	10.61	10.61	10.61

Answer 9

a.

Expert Solution

Answer 10

a.

Expert Solution

Answer 11

Expert Solution

Answer 12

Explanation of Solution

Calculation:

The data represents the weekend occupancy rates in the nine resort hotels at the time of off season.

For Week 1:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=AVERAGE(I1:I9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 1

Thus, the mean for Week 1 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=STDEV(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 2

Thus, the Standard deviation for Week 1 is 10.61.

For Week 2:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=AVERAGE(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 3

Thus, the mean for the week 2 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=STDEV(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 4

Thus, the Standard deviation for Week 2 is 10.61.

For Week 3:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=AVERAGE(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 5

Thus, the mean for Week 3 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain Standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=STDEV(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 6

Thus, the Standard deviation for Week 3 is 10.61.

For Week 4:

Mean:

Software procedure:

Step-by-step software procedure to obtain Mean using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=AVERAGE(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 7

Thus, the mean for Week 4 is 50.

Standard deviation:

Software procedure:

Step-by-step software procedure to obtain standard deviation using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=STDEV(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 8

Thus, the Standard deviation for Week 4 is 10.61.

Answer 13

b.

To determine

Write the conclusion based on the measures of center and variability.

b.

Expert Solution

Explanation of Solution

By observing the values of mean and standard deviation, it states that the occupancy rate in the hotels is same for all the week ends during offseason. Therefore, it can be concluded that the distribution of the occupancy rate is normal.

Answer 14

b.

To determine

Write the conclusion based on the measures of center and variability.

Answer 15

b.

Expert Solution

Explanation of Solution

By observing the values of mean and standard deviation, it states that the occupancy rate in the hotels is same for all the week ends during offseason. Therefore, it can be concluded that the distribution of the occupancy rate is normal.

Answer 16

b.

Expert Solution

Answer 17

b.

Expert Solution

Answer 18

Expert Solution

Answer 19

c.

To determine

Calculate the median for the each week.

c.

Expert Solution

Answer to Problem 85CE

The Median for the occupancy rates is:

Measures	Week 1	Week 2	Week 3	Week 4
Median	50	52	56	47

Explanation of Solution

For Week 1:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=MEDIAN(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 9

Thus, the median for Week 1 is 50.

For Week 2:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=MEDIAN(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 10

Thus, the median for Week 2 is 52.

For Week 3:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=MEDIAN(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 11

Thus, the median for Week 3 is 56.

For Week 4:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=MEDIAN(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 12

Thus, the median for Week 4 is 47.

Answer 20

c.

To determine

Calculate the median for the each week.

Answer 21

c.

Expert Solution

Answer to Problem 85CE

The Median for the occupancy rates is:

Measures	Week 1	Week 2	Week 3	Week 4
Median	50	52	56	47

Answer 22

c.

Expert Solution

Answer 23

c.

Expert Solution

Answer 24

Expert Solution

Answer 25

Explanation of Solution

For Week 1:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column I in cells I1 to I9.
In cell A1, enter the formula “=MEDIAN(I1:19)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 9

Thus, the median for Week 1 is 50.

For Week 2:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column J in cells J1 to J9.
In cell A1, enter the formula “=MEDIAN(J1:J9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 10

Thus, the median for Week 2 is 52.

For Week 3:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column K in cells K1 to K9.
In cell A1, enter the formula “=MEDIAN(K1:K9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 11

Thus, the median for Week 3 is 56.

For Week 4:

Median:

Software procedure:

Step-by-step software procedure to obtain Median using EXCEL software is as follows:

Open an EXCEL file.
Enter the data in the column L in cells L1 to L9.
In cell A1, enter the formula “=MEDIAN(L1:L9)”.
Output using EXCEL software is given below:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 12

Thus, the median for Week 4 is 47.

Answer 26

d.

To determine

Construct dot plot for each sample.

d.

Expert Solution

Answer to Problem 85CE

The dot plot for Week 1 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 13

The dot plot for Week 2 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 14

The dot plot for Week 3 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 15

The dot plot for Week 4 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 16

Explanation of Solution

Dot plot:

Procedure to draw a dot plot for Week 1:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 1, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 2:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 2, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 3:

Draw a horizontal line and mark the points from 36 to 64 with 4-point scale
For week 3, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 4:

Draw a horizontal line and mark the points from 35 to 70 with 5-point scale
For week 4, mark a point corresponding to each observation along the horizontal line.

Thus, the dot plot has been obtained for Week 1, Week 2, Week 3 and Week 4.

Answer 27

d.

To determine

Construct dot plot for each sample.

Answer 28

d.

Expert Solution

Answer to Problem 85CE

The dot plot for Week 1 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 13

The dot plot for Week 2 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 14

The dot plot for Week 3 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 15

The dot plot for Week 4 is as follows:

Loose-leaf For Applied Statistics In Business And Economics, Chapter 4, Problem 85CE , additional homework tip 16

Answer 29

d.

Expert Solution

Answer 30

d.

Expert Solution

Answer 31

Expert Solution

Answer 32

Explanation of Solution

Dot plot:

Procedure to draw a dot plot for Week 1:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 1, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 2:

Draw a horizontal line and mark the points from 30 to 70 with 5-point scale
For week 2, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 3:

Draw a horizontal line and mark the points from 36 to 64 with 4-point scale
For week 3, mark a point corresponding to each observation along the horizontal line.

Procedure to draw a dot plot for Week 4:

Draw a horizontal line and mark the points from 35 to 70 with 5-point scale
For week 4, mark a point corresponding to each observation along the horizontal line.

Thus, the dot plot has been obtained for Week 1, Week 2, Week 3 and Week 4.

Answer 33

e.

To determine

Describe the things that have been learnt from the median and dot plot, that was not apparent from the means and standard deviation.

e.

Expert Solution

Explanation of Solution

The distribution of the occupancy rate is normal based on the value of mean and standard deviation. However, the median value and dot plot states that the distribution of the occupancy rate is little bit different.

Answer 34

e.

To determine

Describe the things that have been learnt from the median and dot plot, that was not apparent from the means and standard deviation.

Answer 35

e.

Expert Solution

Explanation of Solution

The distribution of the occupancy rate is normal based on the value of mean and standard deviation. However, the median value and dot plot states that the distribution of the occupancy rate is little bit different.