A sample of 11 individuals shows the following monthly incomes. Individual Income ($) Â Â 1 Â Â 1,500 Â Â 2 Â Â 2,000 Â Â 3 Â Â 2,500 Â Â 4 Â Â 4,000 Â Â 5 Â Â 4,000 Â Â 6 Â Â 2,500 Â Â 7 Â Â 2,000 Â Â 8 Â Â 4,000 Â Â 9 Â Â 3,500 10 Â Â 3,000 11 43,000 a. What would be a representative measure...

70.2K

Verified Solution

Question

Basic Math

A sample of 11 individuals shows the following monthlyincomes.
Individual
Income ($)
Â Â 1
Â Â 1,500
Â Â 2
Â Â 2,000
Â Â 3
Â Â 2,500
Â Â 4
Â Â 4,000
Â Â 5
Â Â 4,000
Â Â 6
Â Â 2,500
Â Â 7
Â Â 2,000
Â Â 8
Â Â 4,000
Â Â 9
Â Â 3,500
10
Â Â 3,000
11
43,000
a. What would be a representative measure of central location forthe above data? Explain.
b. Determine the mode.
c. Determine the median.
d. Determine the 60th percentile.
e. Drop the income of individual number 11 and compute thestandard deviation for the first 10 individuals.

Answer & Explanation Solved by verified expert

3.6 Ratings (527 Votes)

a What would be a representative measure of central locationfor the above data ExplainSince the data set has an outlier 11th value Hence meanmight give an inappropriate estimateTherefore median will be the most appropriate estimateb Determine the modeThe maximum occurring value is 4000 3 timesMode 4000c Determine the medianIn order to compute the median the data needs to be put See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

	Individual	Income ($)
	Â Â 1	Â Â 1,500
	Â Â 2	Â Â 2,000
	Â Â 3	Â Â 2,500
	Â Â 4	Â Â 4,000
	Â Â 5	Â Â 4,000
	Â Â 6	Â Â 2,500
	Â Â 7	Â Â 2,000
	Â Â 8	Â Â 4,000
	Â Â 9	Â Â 3,500
	10	Â Â 3,000
	11	43,000

a.	What would be a representative measure of central location forthe above data? Explain.
b.	Determine the mode.
c.	Determine the median.
d.	Determine the 60th percentile.
e.	Drop the income of individual number 11 and compute thestandard deviation for the first 10 individuals.