The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louis
ID: 3350088 • Letter: T
Question
The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louisville, Kentucky. The race track is one and one-quarter miles. The following table shows the winners since 1990, their margin of victory, the winning time, and the payoff on a $2 bet.
Year Winner Winning Margin (lengths) Winning Time (minutes) Payoff on a $2 WIN Bet
1990 Unbridled 4.00 2.05374 8.40
1991 Strike the Gold 1.75 2.01638 4.00
1992 Lil E. Tee .50 2.04239 4.90
1993 Sea Hero 2.25 2.05787 7.00
1994 Go For Gin 2.25 2.03314 54.10
1995 Thunder Gulch 1.75 2.04789 7.70
1996 Grindstone nose 2.01228 10.00
1997 Silver Charm head 2.01772 7.40
1998 Real Quiet .50 2.04689 7.00
1999 Charismatic neck 2.02761 31.70
2000 Fusaichi Pegasus 2.00 2.03622 46.50
2001 Monarchos 5.25 2.00922 6.30
2002 War Emblem 4.00 2.04063 4.10
2003 Funny Cide 1.50 2.00412 7.00
2004 Smarty Jones 2.00 2.00140 11.70
2005 Giacomo .50 2.03169 12.20
2006 Barbaro 8.50 2.02809 106.50
2007 Street Sense 2.50 2.05647 114.40
2008 Big Brown 4.50 2.06558 21.10
2009 Mine That Bird 8.00 2.02269 24.40
2010 Super Saver 1.50 2.03228 32.60
2011 Animal Kingdom 3.50 2.06305 40.40
2012 I'll Have Another 2.00 2.06275 35.50
2013 Orb 1.75 1.99990 14.40
a. Determine the mean and median for the variables winning time and payoff on a $2 bet. ( Round the mean and median of winning time to 4 decimal places and Payoff to 2 decimal places.)
Variables Winning Time Payoff
Mean __________ _______
Median __________ ________
b. Determine the range and standard deviation of the variables winning time and payoff on a $2 bet. (Round the range and standard deviations of winning time mean to 4 decimal places and Payoff to 2 decimal places.)
Variables Winning Time Payoff
Range ___________ ______
Standard Deviation ____________ _________
c-1. Refer to the variable winning margin. What is the level of measurement?
ordinal
nominal
interval
ratio
c-2. What measure of location would be most appropriate?
Mean
Median
Mode
Explanation / Answer
Solution:-
a.
Variables Winning Time Payoff
Mean 2.0338 25.80
Median 2.0327 11.95
b.
Variables Winning Time Payoff
Range 0.0657 110.40
Standard Deviation 0.0204 29.90
c - 1 option A. ordinal , level of measurement Ordinal
c - 2 option B. Median
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Formula : mean = sum terms /number of terms
median = The median is the middle number in a sorted list of numbers. So, to find the median, we need to place the numbers in value order and find the middle number.
Range = The range is the difference between the highest and lowest values in the data set.
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