Calculate the sample mean and median
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Question
(a) Calculate the sample mean and median. Interpret the median.
(b) Calculate the sample standard deviation (rounded to 2 decimal places), and interpret the result.
(c) Locate the first and third quartiles, and interpret the results.
(d) Are there any outliers? Why or why not? Be sure to provide appropriate calculations (see page 36 in the Blue book, if necessary).
(e) Determine a 95% confidence interval for the corresponding population mean, and interpret the result.
(f) If the margin of error should not exceed 3, what should be the sample size? Assume the 95% confidence level.
(g) Is there evidence that the population mean annual income is significantly different from $65,000? (Note: the data in the data set are represented in thousands of dollars). To answer this question,
1. State the hypotheses.
2. Calculate the appropriate test statistic.
3. Estimate the p-value, and state your decision (significance level should be 5%). 4. Assess the strength of your decision using the p-value.
5. Explain what it means to reject or not reject the null hypothesis in this case.
6. How does this compare with your answer in part (d)? Be specific and precise.
Wyoming Colorado
54.4
50.5
48.3
72.2
71.5
63.3
75.2
64.4
66.3
59.5
66.6
39.7
70.4
44.2
40.5
44.8
44.5
52.5
49.9
55.9
62.6
55.9
55.9
63.3
69.4
39.8
73.3
44.9
71.4
Arizona
60.6
59.9
57.6
50.3
49.7
69.6
70.3
55.9
58.5
61.3
65.2
60.1
49.4
Utah
Montana
44.8
62.6
51.5
55.4
55.8
43.4
63.4
42.9
69.5
49.9
72.2
55.8
75.1
70.2
45.8
69.3
49.6
49.8
53.8
39.4
55.2
44.8
68.3
42.4
66.7
56.4
