Question 1: A cryptocurrency is a digital form of payment that can be used to buy goo services. There are over 10,000 different cryptocurrencies traded publicly. The price (in dollars) for a random sample of the ten cryptocurrencies priced under $20 is given below: 2.10 1.00 0.24 6.75 19.95 4.41 8.04 6.05 7.24 1.60 a) Identify the variable. b) Identify the experimental unit. c) Find the five-number summary (min, Q1, median, Q3, max) for the data.
Question 1: A cryptocurrency is a digital form of payment that can be used to buy goo services. There are over 10,000 different cryptocurrencies traded publicly. The price (in dollars) for a random sample of the ten cryptocurrencies priced under $20 is given below: 2.10 1.00 0.24 6.75 19.95 4.41 8.04 6.05 7.24 1.60 a) Identify the variable. b) Identify the experimental unit. c) Find the five-number summary (min, Q1, median, Q3, max) for the data.
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.5: Interpreting Data
Problem 1C
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Transcribed Image Text:Question 1: A cryptocurrency is a digital form of payment that can be used to buy goods and
services. There are over 10,000 different cryptocurrencies traded publicly. The price (in dollars)
for a random sample of the ten cryptocurrencies priced under $20 is given below:
6.05
7.24
1.60
19.95
4.41
8.04
1.00
0.24
6.75
2.10
a) Identify the variable.
b) Identify the experimental unit.
c) Find the five-number summary (min, Q1, median, Q3, max) for the data.
d) Is the cryptocurrency priced at $19.95 an outlier? Use an appropriate numerical measure
to support your decision.
e) Suppose the cryptocurrency with a price of $0.24 increases to $1.00 (all other prices stay
the same). Which of the following statistics will remain unchanged?
O Min
O Q1
O mode
O median
O Q3
O range
O mean
O variance
O max
O IQR
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