Problem: 1 The cost of 14 models of digitals cameras at a camera specialty store
ID: 3131672 • Letter: P
Question
Problem: 1
The cost of 14 models of digitals cameras at a camera specialty store during 2014 was as follows:
340 450 450 280 220 340 290 370 400 310 340 430 270 380
1. Compute mean, median, mode, first and third quartile.
2. Compute the variance, standard deviation, range, interquartile range, coefficient of variation, standard error of the mean and Z scores.
3. Determine whether or not there are outliers? Explain.
4. Determine whether or not the data are skewed? If so, how?
5. Based on the previous results what conclusions can you reach concerning the price of digital cameras at a camera specialty store during 2014.
6. Construct a 90%, 95%, 99% confidence interval for the population mean cost of digitals cameras.
7. Interpret the meaning of each interval.
8. What assumption do you need to make about the population of interest to construct the confidence intervals?
Problem 2 (15 pts)
Consider the sample data for plants A, B, C & D of the above company, which are tabulated in table 1. Test whether the four means are equal at the 5% level of significance. Perform a test that will compare all 4 means at once. We are not interested in pair-wise comparisons at this stage. Please show all the steps in your calculations.
Table 1 A B C D 333 328 320 333 32 329 321 321 320 323 322 329 326 327325 330 328 330 326 328 25 331 328 325 23 332 329 333 21 320 330 331 334 324 331 327 322 323 332 320 334 329 330 328 330Explanation / Answer
Q1.
Average (mean): =347.85
Median: 340
Mode: 340
Quartile Q1: 280
Quartile Q3: 415
Q2.
Variance: 4559.69
Standard deviation =67.525
Range: 230
Interquartile range IQR: 135
Coefficient of variation cV=0.20
Q3.
Set of outliers: {} - empty set - no outliers found
Q4.
no, the data is n't skewed.
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