Business Statistics: A First Course (7th Edition)
7th Edition
ISBN: 9780321979018
Author: David M. Levine, Kathryn A. Szabat, David F. Stephan
Publisher: PEARSON

#### Videos

Textbook Question
Chapter 3, Problem 3.71CRP

How much time do Americans living in or near cities spend waiting in traffic, and how much does waiting in traffic cost them per year? The fileÂ CongestionÂ includes this cost for 31 cities. (Source: Data extracted from “The High Cost of Congestion,”Â Time, October 17, 2011, p. 18.) For the time Americans living in or near cities spend waiting in traffic and the cost of waiting in traffic per year:

1. Compute the mean, median, first quartile, and third quartile.
2. Compute the range, interquartile range, variance, standard deviation, and coefficient of variation.
3. Construct a boxplot. Are the data skewed? If so, how?
4. Compute the correlation coefficient between the time spent sitting in traffic and the cost of sitting in traffic.
5. Based on the results of (a) through (c), what conclusions might you reach concerning the time spent waiting in traffic and the cost of waiting in traffic.

10:58
Knowledge Booster