Problem66HW1

Problem66HW1 - 100.9 & standard deviation =...

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Year Winner Margin (lengths) Time (minutes) Payoffs for $2 Bets 1990 Unbridled 3.5 2.03333 10.8 1991 Strike the Gold 1.75 2.05 4.8 1992 Lil E. Tee 1 2.05 16.8 1993 Sea Hero 2.5 2.04 12.9 1994 Go for Gin 2 2.06 9.1 1995 Thunder Gulch 2.25 2.02 24.5 1996 Grindstone Nose 2.01667 5.9 1997 Silver Charm Head 2.04 4 1998 Real Quiet 0.5 2.03667 8.4 1999 Charismatic Neck 2.05333 31.3 2000 Fusaichi 1.5 2.02 2.3 2001 Monarchos 4.75 1.99667 10.5 2002 War Emblem 4 2.01667 20.5 2003 Funny Cide 1.75 2.01667 12.8 2004 Smarty Jones 2.75 2.06667 4.1 2005 Giacomo 0.5 2.04583 50.3 2006 Barbaro 6.5 2.03933 6.1 2007 Street Sense 2.25 2.03617 4.9 2008 Big Brown 4.75 2.03033 6.8 2009 Mine that Bird 6.75 2.04433 103.2 Answer: For winning time,mean= 2.0356335 For payoff, mean = 18.6823529412 & median = 9.1 0.07 & standard deviation = 0.0172213901 For payoff, range=maximum-minimum=
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Unformatted text preview: 100.9 & standard deviation = 23.2284761718 Answer: There are two levels of measurement here: Nominal scale & Ratio measurement. The most appropriate measure of location here would be "Mode" because only mode can be defined for Nominal scale out of all measures of central tendency. a. Obtain the mean and median for the variables winning time and payoff on a $2 bet. b. Determine the range and standard deviation of the variables time and payoff. Answer: For time,range=maximum-minimum= c. Refer to the variable winning margin. What is the level of measurement? What measure of location would be most appropriate?...
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