Concept explainers
In 2007 the New York Times reported that the median annual household income in the United States was $55,500 (New York limes website, August 21, 2013). Answer the following questions based on the following sample of 14 household incomes for 2013 ($1000s).
a. What is the median household income for the sample data for 2013?
b. Based on the sample data, estimate the percentage change in the median household income from 2007 to 2013.
c. Compute the first and third
d. Provide a five-number summary.
e. Using the z-score approach, do the data contain any outliers? Does the approach that uses the values of the first and third quartiles and the
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Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
- Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt