b) The median of the growth rate is 2.235%. The mean of the growth rate is 2.317%. There is one outlier, the growth rate of 3.72%. Therefore, the mean is a little bit higher than the median. The difference between the median and the mean is that the median is the middle value that divides the data into two equal areas, but the mean is the average. c) The median of the growth rate is different from the mean of the growth rate. The distribution is skewed. Also, because there is an outlier, the median is the more appropriate measure of center to use. d) IQR=2.56%) 2.045%=0.515% Standard deviation= 0.427 The IQR for the growth rates is 0.515% and the standard deviation for the growth rates is 0.427%. Because of the outlier, the better choice for measure the spread of the growth rate is IQR. e) The IQR is a bit larger than standard deviation, so it supposes to be symmetric. However, there is an outlier that affects the data. Therefore, it is not symmetric for this data set. Despite the outlier, the variance is small and it is concentrated.
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