(a)To find:the better job of summarizing the growth rates. (b)To find:the measures in (d) the better job of summarizing the growth rates.

Phoebe 2021-02-11 Answered
(a)To find:the better job of summarizing the growth rates.
(b)To find:the measures in (d) the better job of summarizing the growth rates.
You can still ask an expert for help

Expert Community at Your Service

  • Live experts 24/7
  • Questions are typically answered in as fast as 30 minutes
  • Personalized clear answers
Learn more

Solve your problem for the price of one coffee

  • Available 24/7
  • Math expert for every subject
  • Pay only if we can solve it
Ask Question

Expert Answer

unett
Answered 2021-02-12 Author has 119 answers
(a)Median would be better than mean because the distribution is skewed to right. The distribution has outliers’ therefore median works better to explain the growth rates of job.
(b)Inter quartile range would be better than standard deviation. The distribution is skewed to right and has few outliers therefore inter quartile range would be better to explain the growth rates of job.
Not exactly what you’re looking for?
Ask My Question

Expert Community at Your Service

  • Live experts 24/7
  • Questions are typically answered in as fast as 30 minutes
  • Personalized clear answers
Learn more

You might be interested in

asked 2022-01-17
Given 90, 87, 81, 100, 74, 80 what is the mean of the scores?
asked 2022-04-23
In a statistics class of 30 students, the mean score on the midterm was 72. In another class of 40 students, the mean score was 79. What was the mean score of the two classes combined?
asked 2022-03-25
Confidence in sample mean, given sample variance?
Let's say that I have an large population of data, but that I have a sample mean and sample variance calculated from a subset of that data.
Can I use my sample variance (or standard deviation) to know how confident I should be in my sample mean being close to the population mean?
It seems like I should because a low variance seems to indicate that there isn't very far that the mean could move, but on the other hand, taking more samples isn't going to make the variance approach zero.
Is there some other calculation I should be using for getting a confidence amount in my sample mean?
asked 2021-01-19
How can the sample covariance be used to estimate the covariance of random variables?
asked 2022-06-08
What is the mean, median, and mode of 4, 5, 7, 10?
asked 2021-08-04
Let x be a binomial random variable with n=20 and p=42100.
a) Calculate the mean, variance and standard deviation of the random variable x.
b) Use the results of part a to calculate the intervals μ±σ, μ±2σ, and μ±3σ. Find the probability that an observation will fall into each of these intervals.
c) Are the results of part b consistent with Tchebysheff’s Theorem? With the Empirical Rule? Why or why not?
asked 2022-03-12
What is the radius of a "Gaussian" sphere such that approx. all the population lie within?
Let XBRn be a random vector distributed normally, i.e. XN(0,σ2In), where σ>0 is the standard deviation and In is the identity matrix of order n.SNKIn the case of the univariate Gaussian distribution, i.e.,
XN(0,σ2), we say that approximately 99.7% of the population lie within three standard deviations.
What would be an appropriate constant in the case of the multivariate "isotropic" Gaussian distribution, i.e., XN(0,σ2In)? That is, what would be the radius of the n-sphere in terms of the standard deviation σ, such that approximately all the population lie within?
P.s.: Please feel free to edit the title (and/or the body of this question). I was not sure how to express what I wanted in the title.