Statistics of the Minimum Value Set Order Instructions: Please , you have to write the questions, just answer the 5 problems.
just one page. is actually due by the 12, so I will make a payment on that pretty soon.
Statistics of the Minimum Value Set Sample Answer
The minimum value is the least observation in a set (Larson, 2012). For instance, the minimum value list is 2.
The lower quartile or first quartile, in this case, will be computed as follows:
N = number of observations = 15
1st quartile = 0.25*15 = the 3.75 observations
The first quartile will be the average of the 3rd and the 4th observation.
1st quartile = (3 + 4) /2 = 7/2 = 3.5
The median is defined simply as the central or middle observation when all values are arranged in descending or ascending order (Larson, 2012). In this case, when the observations are arranged in ascending order, and the middle value considered the median is 5.
The upper quartile or 3rd quartile is calculated as follows;
3rd quartile = 0.75*15 = 11.25 observations
This implies that the 3rd quartile is the average of the 10th and 11th observations.
3rd quartile = (11 + 11) /2 = 22/2 = 11
Maximum value is the largest observed value = 20
Inter-quartile range = 3rd quartile – 1st quartile
= 11 – 3.5
= 7.5
Standard deviation =
= =
=
=
= 14.14213562373095
= 14.14
Z-score = = = 1.2
The sample standard deviation can be derived from the population standard deviation using the following formulae (Larson, 2012).
= = 5 / √25 = 5 / 5
= 1
Thus, the sample standard deviation is 1.00.
:
:
n = 30, NY mean = 2.00 and NY sd. Dev. = 0.05
n = 30 NJ mean = 2.02, and NJ Sd. Dev. = 0.05
t =
=
=
=
DF =
=
= 58
t (.05, 58) = T.INV.2T(0.05,58) = 2.0017
Since the |t calculated| = 3.8730 > t (.05, 58) = 2.0017 reject (Larson, 2012). This means that the two means are not equal, NJ and NY gas prices is not equal.
Statistics of the Minimum Value Set References
Larson, R., & Farber, E. (2012). Elementary statistics. Pearson Prentice Hall. From http://dl.ilam.ac.ir/handle/Hannan/58573
