(Solution Download) According to an annual consumer spending survey,


According to an annual consumer spending survey, the average monthly Bank of America

 

Visa credit card charge was $1838 (U.S. Airways Attaché Magazine, December 2003). A

 

sample of monthly credit card charges provides the following data.

 

236 1710 1351 825 7450

 

316 4135 1333 1584 387

 

991 3396 170 1428 1688

 

a. Compute the mean and median.

 

b. Compute the first and third quartiles.

 

c. Compute the range and interquartile range.

 

d. Compute the variance and standard deviation.

 

e. The skewness measure for these data is 2.12. Comment on the shape of this distribution.

 

Is it the shape you would expect? Why or why not?

 

f. Do the data contain outliers?

 







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