Project_1.docx - MATH 114 PROJECT 1 1. Each of the...

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MATH 114PROJECT11.Each of the following 5 data sets has a mean close to 100, and a standard deviation in the20s. Assume that each of these are sample data sets.For each of the 5 data sets given below,use the Excel function “=stdev.s” (or technology) to find the actual sample standard deviation(10 points), compute the estimate given by the Range Rule of Thumb (RROT) Estimate (10points), and compute the percentage error of the estimate (10 points). The formula for theRROT estimate is RROT estimate = Range/4 (where the range = maximum value – minimumvalue), on the assumption that the Standard DeviationRROT estimate.The formula usedto find the percentage error of the estimate is:% Error =|RROT Estimate – Standard deviation|/ Standard Deviation × 100%.a.Data Set 1: No outliers
7878787878122122122122122Actual Standard deviation =23.19RROT Estimate =11% Error = -52%b.Data Set 2: 1 outlier888889899090919192170Actual Standard deviation =25RROT Estimate =20.5% Error = -18%Or excluding outliersActual Standard deviation =1RROT Estimate =1% Error = 0Median (Q2)=90Q1=89

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