# ISDS 513 Chapter3 -Solutions.pdf - Exercise 1 A histogram...

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A histogram or a smoothed version of it (called density curve) is a graphical display of theshape of the distribution given quantitative data. The shape of a business or economicvariable may take several forms. Below are some examples.Use one or more of the following terms to describe each density:Exercise1Symmetricor near-symmetricSkewed tothe rightSkewed tothe leftUni-modalBi-modalABCDEIIIIIIIIIIIIIII
When describing or summarizing a given quantitative data, it is often desired to reportsome measure of central tendency or location. The expectation is that the majority of theobservations in the data will cluster around this location measure. Depending on the nature(the distribution) of the data at hand, one has the option to use either mean or median orsometimes mode. In this problem, we focus only on mean and median.Apply the appropriate option to the distributions below.Mean is equal to or almostequal to the medianMean is greaterthan the medianMean is less than the medianABExercise2IIIIIIifSkewedtotheRIGHTLEFTMeanistotheRIGHTLEFTofthemedianC
A random sample on the longevity (lifetime in years) of 40 refrigerators from twobrands (Brand A and Brand B) has been collected. The box-plots for the two brandsare given below.BrandABrandBSmallest129.6Q11515.6Median1617.5Q31819.2Largest2123.6A)Using the inter-quartile-UDQJH ±,45²³ ZKLFK %UDQG¶V ORQJHYLW\ ±%UDQG \$ RU %UDQG %² KDV Dhigher variability?B)The first quartile (or Q1) of the longevity of Brand A refrigerators is 15 months. Interpret thisvalue.C)Is the smallest value for Brand B refrigerators also an outlier? Use the formulaLower limit = Q1±1.5 * IQRto help you with the decision.Exercise3Q

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