Determine the range and interquartile range

Assignment Help Econometrics

Reference no: EM13202501

Missy Walters owns a mail-order business specializing in baby clothes. She is considering offering her customers a discount on shipping charges based on the dollar-amount of the mail order. Before Missy decides the discount policy, she needs a better understanding of the dollar-amount distribution of the mail orders she receives. Missy had an assistant randomly select 50 recent orders and record the value, to the nearest dollar, of each order as shown below.

136 281 226 123 178 445 231 389 196 175
211 162 212 241 182 290 434 167 246 338
194 242 368 258 323 196 183 209 198 212
277 348 173 409 264 237 490 222 472 248
231 154 166 214 311 141 159 362 189 260

a. Determine the mean, median, and mode for this data set.
b. Determine the 80th percentile.
c. Determine the first quartile.
d. Determine the range and interquartile range.
e. Determine the sample variance, sample standard deviation, and coefficient of variation.
f. Determine and interpret the z-scores for the minimum and maximum values in the data set.

Reference no: EM13202501

Questions Cloud

How did the recent financial crisis affect financial service : What factors led to the mortgage default crisis How did mortgage defaults affect banks involved in mortgage lending and mortgage investing Securitization TARP What do these mean How did mortgage-backed securities spread losses during the mortgage ..

What utility levels will smith and jones enjoy : Jones on the other hand regards ham and cheese as perfect substitutes-she is always willing to trade 3 slices of ham for 4 slices of cheese, and her utility function is given by Uj+4h+3c. Total endowments are 100 slices of ham and 200 slices of ch..

Determine who will bear the burden of the tax : Assume that Milk is perfectly elastically. If there is a $.20 tax on milk, who will bear the burden of the tax Assume producers have the legal incidence. Graphically depict and describe. Shade the loss in consumer's surplus. and deadweight loss.

Compute and interpret the sample correlation coefficient : The following data represent the daily demand (y in thousands of units) and the unit price (x in dollars) for a product. Daily Demand (y) Unit Price (x) a. Compute and interpret the sample covariance for the above data. b. Compute and interpret the s..

Determine the range and interquartile range : Before Missy decides the discount policy, she needs a better understanding of the dollar-amount distribution of the mail orders she receives. Missy had an assistant randomly select 50 recent orders and record the value, to the nearest dollar, of e..

How the sailors will ensure equality of utility : There are 200 pounds of food on an island that must be allocated between 2 marooned sailors. The utility function of the first sailor is given by Utility= ( F1) Where F1 is the quantity of food consumed by the first sailor. For the second sailor u..

Accounting for stock splits and dividends : What was the average price at which the company originally sold its stock and reconstruct the equity statement above to reflect a four for one stock spit.

Explain why production is exactly the same at a price ratio : Consider an economy with just one technique available for the production of each good, food and cloth: Good food Cloth labor per unit output 1 1 labor per unit output 2 1 a. if consumers insist on trading four units of food for five units of cloth, w..

Determine who have more elastic demands : A monopolistic producer supplying raw materials to two industries one with a lower price elasticity of demand and the other with a high price elasticity of demand, practices to prevent its low price elastic consumers (who have more elastic demands..

User Account

All Pages