BUAD 310 hw 2 - Ryan Sanders BUAD 310 HW 2 a Population is...

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Ryan Sanders BUAD 310 – HW 2 a) Population is all compact automobiles in low-speed collisions Parameter is the average damage cost of all compact automobiles in low-speed collisions Sample is the 30 low-speed collisions being looked at Statistic is the average damage cost of the 30 collisions b) Variable of interest is the average cost of the damage for the low-speed collisions. This variable is quantitative. c) This variable is discrete d) mean = 44821/30 = 1494.03 median = (30+1)/2 = 15.5 (1267+1328)/2 = 1297.5 mode = 886 1 st quartile = 0.25*(n+1) = 7.75 (763*0.25) + (851*0.75) = 829 3 rd quartile = 0.75*(n+1) = 23.25 (1544*0.75) + (2048*0.25) = 1670 e) range = 4200 – 361 = 3839 variance = 1057902 standard deviation = 1028.54 interquartile range = 841 f) coefficient of variation = (s/x) * 100 = (1028.54/1494.03) * 100 = 68.84% g) Minitab printout h) middle 50 % 829 to 1670 upper 25% 1670 to 4200
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i) histogram from Minitab Damage Frequency 4000 3500 3000 2500 2000 1500 1000 500 9 8 7 6 5 4 3 2 1 0 Ryan Sanders j) The histogram tells us that the data is unimodal, but it is difficult to tell for sure if there are any outliers. It is possible that at least 4000 and 4200 are outliers though.
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