Practice+Test+1C - 1 Jamie is collecting a sample of people...

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1. Jamie is collecting a sample of people and asking them how much they pay for a movie ticket. Most people go at night and pay full price, but there are some who go to matinees and pay less, and then there are a few people who go to discount theaters which play movies late in their run, and these people pay very little. Which will (most likely) be larger the mean or the median? No need to explain. 2. When is the second moment about the mean zero? When is the fourth moment about the mean zero? 3. Calculate the skew for the following data: 1, 1, 5, 7, 8, 8. (Be sure and standardize the moment.) 4. Calculate the kurtosis for same data. (Be sure and standardize the moment.) 5. Why do we standardize data? 6. What concept tells us how far, on average, the values in a given distribution are from zero? [This question is not tricky. If you think the answer is too obvious, it may be that it simply is obvious to you.] 7. Estimate the standard deviation for the below distribution.
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