Question

To find:the change the values of the summary statistics calculated above.

Summarizing quantitative data
ANSWERED
asked 2020-11-10
To find:the change the values of the summary statistics calculated above.

Answers (1)

2020-11-11
Suppose first median, Subtracting 1.20% from every value of data does not change the order of data vales. Therefore the median would also be decrease by 1.20%. Therefore the new median would be \(2.85\% - 1.20\% = 1.65\%\).
Now taking the standard deviation, Mean decreases by 1.20% and every value also decreases by 1.20% so deviation would not change. Therefore standard deviation remains unchanged.
Therefore, new standard deviation is 1.4%.
Lower and upper quartile both decrease by 1.20% when every value of data decreases by 1.20% so IQR remains would be unchanged. Therefore new IQR is equal to 1.1%.
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