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Compute the standard deviation of time to start a business

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Reference no: EM133251554

Question - Directions - use EXCEL for the data analysis of the question. Include the boxplot on question 6 Results from computations should be rounded to two decimal places where appropriate.

An entrepreneur faces many bureaucratic and legal hurdles when starting a new business. The World Bank collects information about starting businesses throughout the world. It has determined the time, in days, to complete all the procedures required to start a business. Data for 187 countries are included in the data set, TTS. For this section, we examine data, rounded to integers, for a sample of 26 of these countries.

1. Find the mean time to start a business for 26 countries in our data set.

2. Find the median time to start a business for 26 countries in our data set.

3. Compute the standard deviation of time to start a business for 26 countries in the data set.

4. Which measure do you prefer for describing the center of this distribution? Explain your answer.

5. Which measure do you prefer for describing the spread of this distribution? Explain your answer.

6. Make a boxplot for these data, show the five-number summary in the boxplot, and explain & describe the distribution using only the information in the boxplot.

Reference no: EM133251554

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