I have found a random sample (highlighted in bold black ink on the top right) of

Question

I have found a random sample (highlighted in bold black ink on the top right) of customers and the average amount each owes from this accounts receivable file containing 280 records.

Calculate the mean, median, and standard deviation of Amount Owed for the sample and for the population. ( each for mean, median and standard deviation)

Account Size Days Amount Owed Account Size Days Amount 1 1 7 $180 58 1 7 $220 0.002899779 2 1 8 $210 182 2 18 $470 0.003425953 3 1 10 $210 14 1 14 $320 0.006589244 4 1 8 $150 202 2 20 $430 0.006639178 5 1 9 $300 233 2 31 $530 0.011142237 6 1 5 $240 153 2 28 $560 0.0131742 7 1 4 $330 144 1 14 $330 0.015283648 8 1 10 $290 229 2 11 $380 0.015959188 9 1 5 $240 39 1 6 $190 0.017428313 10 1 13 $270 184 2 23 $400 0.01782893 11 1 12 $220 51 1 12 $260 0.018038623 12 1 11 $260 193 2 10 $380 0.018366712 13 1 10 $220 1 1 7 $180 0.022354916 14 1 14 $320 121 1 8 $220 0.025325422 15 1 3 $350 222 2 39 $750 0.025409868 16 1 15 $270 173 2 29 $580 0.025646931 17 1 6 $260 235 2 9 $310 0.027147958 18 1 14 $240 188 2 14 $370 0.029188464 19 1 9 $350 141 1 14 $270 0.033134562 20 1 9 $250 206 2 12 $350 0.033877302 21 1 8 $240 257 3 15 $1,330 0.034479938 22 1 8 $230 100 1 7 $240 0.035269626 23 1 10 $290 196 2 24 $500 0.037685962 24 1 10 $230 255 3 23 $2,030 0.039510317 25 1 7 $370 112 1 11 $220 0.050149924 26 1 7 $210 260 3 24 $1,590 0.055272513 27 1 8 $220 192 2 25 $650 0.059239391 28 1 3 $240 29 1 7 $260 0.065747275 29 1 7 $260 198 2 21 $640 0.067785265 30 1 13 $140 41 1 7 $230 0.070880476 31 1 10 $180 109 1 11 $260 0.074320192 32 1 9 $200 214 2 10 $390 0.075102047 33 1 14 $260 128 1 9 $300 0.075783159 34 1 9 $330 203 2 24 $510 0.078616586 35 1 10 $200 38 1 11 $270 0.081153905 36 1 15 $210 69 1 11 $210 0.08346618 37 1 12 $240 56 1 9 $210 0.085416786 38 1 11 $270 4 1 8 $150 0.086003696 39 1 6 $190 207 2 29 $540 0.088149275 40 1 13 $230 9 1 5 $240 0.096784357 41 1 7 $230 145 1 7 $200 0.097712203 42 1 15 $280 105 1 8 $260 0.099166046 43 1 8 $310 224 2 14 $440 0.099763551 44 1 17 $210 53 1 6 $250 0.102486518 45 1 14 $320 40 1 13 $230 0.102564092 46 1 13 $230 262 3 19 $1,340 0.10323132 47 1 7 $270 30 1 13 $140 0.104517461 48 1 12 $240 272 3 16 $1,330 0.107177125 49 1 11 $250 35 1 10 $200 0.107858575 50 1 17 $190 175 2 16 $560 0.109475635 51 1 12 $260 155 2 26 $650 0.115362184 52 1 12 $150 136 1 9 $170 0.119819598 53 1 6 $250 42 1 15 $280 0.12106194 54 1 10 $280 84 1 15 $280 0.12297272 55 1 14 $280 208 2 22 $390 0.12441694 56 1 9 $210 61 1 13 $240 0.124423405 57 1 7 $300 119 1 13 $250 0.127263349 58 1 7 $220 194 2 18 $450 0.129380519 59 1 10 $320 151 2 17 $470 0.138910018 60 1 10 $210 167 2 17 $330 0.138939839 61 1 13 $240 150 1 9 $370 0.163726475 62 1 10 $290 79 1 9 $190 0.165675208 63 1 4 $190 267 3 23 $2,010 0.166332141 64 1 8 $300 34 1 9 $330 0.171479539 65 1 16 $200 187 2 21 $430 0.173507031 66 1 13 $280 75 1 7 $310 0.177996795 67 1 12 $390 265 3 29 $1,580 0.182293648 68 1 13 $260 72 1 8 $230 0.182517864 69 1 11 $210 243 2 22 $650 0.186614528 70 1 13 $240 88 1 12 $260 0.187650551 71 1 12 $240 236 2 18 $660 0.188706927 72 1 8 $230 74 1 11 $370 0.19026656 73 1 13 $250 149 1 6 $190 0.195932192 74 1 11 $370 60 1 10 $210 0.19909947 75 1 7 $310 242 2 26 $560 0.199100533 76 1 9 $270 52 1 12 $150 0.204884847 77 1 10 $220 174 2 17 $410 0.20922249 78 1 9 $230 277 3 28 $1,440 0.211171976 79 1 9 $190 216 2 13 $280 0.212536221 80 1 5 $180 134 1 5 $250 0.215966187 81 1 8 $300 131 1 2 $250 0.217016009 82 1 5 $290 90 1 12 $180 0.219813338 83 1 13 $240 274 3 15 $1,350 0.226047433 84 1 15 $280 115 1 8 $220 0.228820242 85 1 14 $180 244 2 20 $470 0.242017414 86 1 8 $280 157 2 21 $550 0.242944002 87 1 9 $290 190 2 16 $430 0.247130913 88 1 12 $260 217 2 20 $350 0.251522842 89 1 9 $220 8 1 10 $290 0.255962552 90 1 12 $180 103 1 10 $240 0.266871499 91 1 11 $320 266 3 12 $1,360 0.267424041 92 1 7 $250 13 1 10 $220 0.267612768 93 1 11 $340 241 2 24 $460 0.268006498 94 1 12 $240 71 1 12 $240 0.270350288 95 1 6 $260 245 2 14 $430 0.275626412 96 1 10 $270 17 1 6 $260 0.2794703 97 1 6 $290 251 3 19 $1,330 0.281605609 98 1 6 $250 106 1 8 $270 0.283616391 99 1 7 $320 279 3 29 $2,000 0.284368634 100 1 7 $240 205 2 28 $610 0.285210511 101 1 5 $310 165 2 37 $570 0.285622802 102 1 13 $280 135 1 5 $240 0.286148388 103 1 10 $240 28 1 3 $240 0.286892163 104 1 11 $320 125 1 13 $220 0.291034933 105 1 8 $260 226 2 23 $540 0.293761543 106 1 8 $270 86 1 8 $280 0.297313273 107 1 11 $210 273 3 22 $1,380 0.301863954 108 1 8 $260 73 1 13 $250 0.303101402 109 1 11 $260 127 1 6 $190 0.303140413 110 1 17 $280 271 3 18 $1,460 0.3075042 111 1 6 $240 252 3 20 $1,400 0.325563127 112 1 11 $220 199 2 22 $460 0.326918303 113 1 10 $280 124 1 8 $270 0.330578259 114 1 12 $380 231 2 8 $460 0.341247195 115 1 8 $220 219 2 14 $350 0.34199428 116 1 12 $290 275 3 21 $1,340 0.346953105 117 1 7 $230 248 2 14 $540 0.354252527 118 1 10 $230 129 1 10 $230 0.358917827 119 1 13 $250 210 2 26 $420 0.361107507 120 1 12 $240 228 2 18 $310 0.367958178 121 1 8 $220 220 2 24 $490 0.368233153 122 1 12 $220 122 1 12 $220 0.368386823 123 1 12 $270 98 1 6 $250 0.370536094 124 1 8 $270 120 1 12 $240 0.372152942 125 1 13 $220 6 1 5 $240 0.373547674 126 1 10 $220 238 2 24 $310 0.374026394 127 1 6 $190 82 1 5 $290 0.375600227 128 1 9 $300 24 1 10 $230 0.387604204 129 1 10 $230 12 1 11 $260 0.395171351 130 1 6 $280 179 2 14 $470 0.395948915 131 1 2 $250 104 1 11 $320 0.396294867 132 1 8 $260 31 1 10 $180 0.397719918 133 1 6 $290 223 2 9 $350 0.403497614 134 1 5 $250 256 3 19 $1,520 0.403773059 135 1 5 $240 246 2 11 $450 0.404375526 136 1 9 $170 169 2 24 $610 0.405501895 137 1 13 $310 47 1 7 $270 0.406165794 138 1 11 $250 164 2 34 $510 0.410483159 139 1 13 $210 218 2 26 $390 0.410555592 140 1 8 $410 191 2 28 $630 0.411359536 141 1 14 $270 197 2 19 $400 0.41189563 142 1 12 $240 10 1 13 $270 0.413338392 143 1 16 $210 140 1 8 $410 0.416221021 144 1 14 $330 143 1 16 $210 0.418084515 145 1 7 $200 258 3 17 $1,520 0.425324887 146 1 12 $260 96 1 10 $270 0.426538525 147 1 11 $240 280 3 21 $1,520 0.430999206 148 1 8 $240 62 1 10 $290 0.442450203 149 1 6 $190 19 1 9 $350 0.442489579 150 1 9 $370 168 2 23 $410 0.458315472 151 2 17 $470 176 2 29 $500 0.460844575 152 2 22 $540 159 2 16 $430 0.461771038 153 2 28 $560 63 1 4 $190 0.466465597 154 2 24 $470 211 2 13 $430 0.467331851 155 2 26 $650 54 1 10 $280 0.468953507 156 2 29 $530 110 1 17 $280 0.47692337 157 2 21 $550 270 3 20 $1,010 0.477071681 158 2 33 $620 77 1 10 $220 0.477269541 159 2 16 $430 215 2 17 $370 0.478559413 160 2 27 $460 269 3 26 $1,480 0.485143121 161 2 8 $330 237 2 21 $670 0.489103527 162 2 26 $570 5 1 9 $300 0.496047872 163 2 25 $570 97 1 6 $290 0.500386125 164 2 34 $510 83 1 13 $240 0.50177614 165 2 37 $570 201 2 17 $430 0.508131337 166 2 23 $560 146 1 12 $260 0.519491972 167 2 17 $330 20 1 9 $250 0.520224767 168 2 23 $410 43 1 8 $310 0.528670485 169 2 24 $610 45 1 14 $320 0.531349224 170 2 14 $440 55 1 14 $280 0.532663554 171 2 24 $580 276 3 13 $1,100 0.534295347 172 2 22 $450 170 2 14 $440 0.535766917 173 2 29 $580 171 2 24 $580 0.537062459 174 2 17 $410 33 1 14 $260 0.537729218 175 2 16 $560 178 2 18 $560 0.543038774 176 2 29 $500 81 1 8 $300 0.544778429 177 2 20 $510 114 1 12 $380 0.5549494 178 2 18 $560 65 1 16 $200 0.557425992 179 2 14 $470 189 2 38 $660 0.558870186 180 2 25 $520 85 1 14 $180 0.559840778 181 2 19 $400 3 1 10 $210 0.570104101 182 2 18 $470 139 1 13 $210 0.574496492 183 2 18 $380 78 1 9 $230 0.57503993 184 2 23 $400 67 1 12 $390 0.589576995 185 2 23 $420 117 1 7 $230 0.605369225 186 2 14 $370 154 2 24 $470 0.608923696 187 2 21 $430 27 1 8 $220 0.612607502 188 2 14 $370 64 1 8 $300 0.613021116 189 2 38 $660 21 1 8 $240 0.620861735 190 2 16 $430 116 1 12 $290 0.62322017 191 2 28 $630 204 2 22 $500 0.633030104 192 2 25 $650 234 2 16 $390 0.637709413 193 2 10 $380 15 1 3 $350 0.642596995 194 2 18 $450 147 1 11 $240 0.645843061 195 2 32 $580 212 2 19 $530 0.647769026 196 2 24 $500 49 1 11 $250 0.649482476 197 2 19 $400 137 1 13 $310 0.650912412 198 2 21 $640 102 1 13 $280 0.652097334 199 2 22 $460 118 1 10 $230 0.654133686 200 2 18 $350 152 2 22 $540 0.670740248 201 2 17 $430 80 1 5 $180 0.671315294 202 2 20 $430 249 2 15 $380 0.685311706 203 2 24 $510 156 2 29 $530 0.687323302 204 2 22 $500 57 1 7 $300 0.692983501 205 2 28 $610 278 3 32 $2,220 0.702052478 206 2 12 $350 138 1 11 $250 0.702390641 207 2 29 $540 101 1 5 $310 0.708694593 208 2 22 $390 113 1 10 $280 0.713967429 209 2 17 $580 89 1 9 $220 0.717246551 210 2 26 $420 68 1 13 $260 0.717614551 211 2 13 $430 160 2 27 $460 0.729954566 212 2 19 $530 172 2 22 $450 0.735299424 213 2 24 $570 161 2 8 $330 0.736633556 214 2 10 $390 221 2 24 $550 0.738360592 215 2 17 $370 158 2 33 $620 0.739001411 216 2 13 $280 213 2 24 $570 0.742523532 217 2 20 $350 183 2 18 $380 0.747987894 218 2 26 $390 181 2 19 $400 0.74819121 219 2 14 $350 50 1 17 $190 0.751203329 220 2 24 $490 16 1 15 $270 0.755044446 221 2 24 $550 253 3 14 $1,550 0.75545411 222 2 39 $750 32 1 9 $200 0.757718385 223 2 9 $350 130 1 6 $280 0.767480367 224 2 14 $440 261 3 19 $1,040 0.770724403 225 2 19 $590 232 2 12 $420 0.775484638 226 2 23 $540 126 1 10 $220 0.778085382 227 2 9 $400 123 1 12 $270 0.779240005 228 2 18 $310 46 1 13 $230 0.779579804 229 2 11 $380 22 1 8 $230 0.783143919 230 2 22 $440 2 1 8 $210 0.784167082 231 2 8 $460 107 1 11 $210 0.785883473 232 2 12 $420 227 2 9 $400 0.790788333 233 2 31 $530 18 1 14 $240 0.796170102 234 2 16 $390 185 2 23 $420 0.807400165 235 2 9 $310 76 1 9 $270 0.816800186 236 2 18 $660 93 1 11 $340 0.819160446 237 2 21 $670 132 1 8 $260 0.828238957 238 2 24 $310 44 1 17 $210 0.829235108 239 2 18 $520 36 1 15 $210 0.833243367 240 2 18 $480 133 1 6 $290 0.836288159 241 2 24 $460 250 2 20 $570 0.836408478 242 2 26 $560 240 2 18 $480 0.842438609 243 2 22 $650 148 1 8 $240 0.844905046 244 2 20 $470 209 2 17 $580 0.849905976 245 2 14 $430 11 1 12 $220 0.85026339 246 2 11 $450 142 1 12 $240 0.851254924 247 2 20 $580 200 2 18 $350 0.87302439 248 2 14 $540 99 1 7 $320 0.875555621 249 2 15 $380 177 2 20 $510 0.876128541 250 2 20 $570 23 1 10 $290 0.88585253 251 3 19 $1,330 239 2 18 $520 0.886161226 252 3 20 $1,400 37 1 12 $240 0.891097572 253 3 14 $1,550 111 1 6 $240 0.901489511 254 3 15 $1,460 59 1 10 $320 0.905272314 255 3 23 $2,030 48 1 12 $240 0.908790494 256 3 19 $1,520 186 2 14 $370 0.910865875 257 3 15 $1,330 108 1 8 $260 0.911818026 258 3 17 $1,520 7 1 4 $330 0.91240205 259 3 21 $1,390 180 2 25 $520 0.918023211 260 3 24 $1,590 247 2 20 $580 0.918029785 261 3 19 $1,040 163 2 25 $570 0.923895281 262 3 19 $1,340 259 3 21 $1,390 0.924519008 263 3 14 $1,250 66 1 13 $280 0.931347473 264 3 3 $930 254 3 15 $1,460 0.938871396 265 3 29 $1,580 95 1 6 $260 0.939590189 266 3 12 $1,360 195 2 32 $580 0.943400823 267 3 23 $2,010 162 2 26 $570 0.944946263 268 3 10 $1,370 92 1 7 $250 0.946116576 269 3 26 $1,480 94 1 12 $240 0.955476511 270 3 20 $1,010 70 1 13 $240 0.960985419 271 3 18 $1,460 166 2 23 $560 0.963971534 272 3 16 $1,330 87 1 9 $290 0.967910744 273 3 22 $1,380 268 3 10 $1,370 0.971469062 274 3 15 $1,350 263 3 14 $1,250 0.975838627 275 3 21 $1,340 26 1 7 $210 0.97809791 276 3 13 $1,100 91 1 11 $320 0.980973331 277 3 28 $1,440 264 3 3 $930 0.98662156 278 3 32 $2,220 225 2 19 $590 0.988429061 279 3 29 $2,000 25 1 7 $370 0.989768923 280 3 21 $1,520 230 2 22 $440 0.99982104

Explanation / Answer

We will do all calculations using the software MS-EXCEL since it is very difficult to operate on such big data manually.

The mean of the sample can be found using the EXCEL function AVERAGE. In this case it is found to be $464.3

The standard deviation of the sample would be given by the excel function STDEV. In this case it is found to be $378.1

The median would be the middle value when the data points are sorted. In EXCEL we can use the function MEDIAN. In this case the median is found to be $320

For calculating these values for the population we would require more data.

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