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Unformatted text preview: The Empricial Rule (used because the data is roughly bell shaped) says that 95% of data lies within 2 standard deviations from the mean and about 99% of data lies within 3 standard deviations from the mean. This rule holds somewhat true in the case of 2007 Bankruptcy Rates per 1000 Residents. 94% (47/50) of the data lies within 2 standard deviations of the mean and 98% (49/50) of the data lies within 3 standard deviations of the mean. 5. According to the histogram, what is the basic shape for the rates per 1000 residents in 2007? Bell shaped 6. Finally compare the 2000 and 2007 rates. The bankruptcy laws were changed in 2007. What was the effect of this on the number of bankruptcies? The Mean in 2007 was 2.271 and the Mean in 2000 was 4.4987. The average number of bankruptcies per 1000 residents went down in 2007 in comparison to 2000....
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- Spring '08
- Standard Deviation, standard deviations