(a)Evaluate the following set of data for possible and probableoutliers.
5 8 2 9 5 3 7 4 2 7 4 10 4 3 17
(b) A firm pays 5/12 of its labor force an hourly wage of $5, 1/3of the labor force a wage
of $6 and ¼ a wage of $7. Determine the average wage paid by thefirm.
(c)For the same amount of capital invested in each of 3 years, aninvestor earned a rate of
return of 1%during the first year, 4% during the second year and16% during the third.
Find the simple arithmetic mean and the geometric mean. Which doyou think is a more
appropriate in this case? Explain.
(d) A plane travelled 200 miles at 600 mph and 100 miles at 500mph.What was the
average speed for the entire journey?
(e) A driver purchased $10 worth of gasoline at $0.90 per gallonand another $10 at
$1.10 per gallon. What is the average price per gallon?
