BUS 226 Discussion 3 Group D | Colorado Community College Online
- Colorado Community College Online / BUS 226
- 20 Oct 2021
- Price: $5
- Management Assignment Help / Business Management Assignment Help
BUS 226 Discussion 3 Group D | Colorado Community College Online
Data was collected on the
cost ($) for each cookie in a group of eight (8) yummy gourmet cookies. The
data points and descriptive statistics from an Excel statistical application
are shown below. (The far left column contains the data points; the far right
column reports the corresponding Z scores. The middle columns show common
descriptive statistics.)
1.
After
Jasmine viewed this data, she said "This data is very symmetrical:
the mean and median are virtually the same value." Clearly
state why you do or why you don't agree with
Jasmine's statement.
2.
Jasmine
continues... "I'm a little confused though. Since a symmetrical data
set should follow the empirical rule, why doesn't the mean of $0.85 divided by
the standard deviation of $0.13 equal an exact 3?" Clearly state
a thorough answer to Jasmine's question.
|
Table: Cost per Gourmet Cookie |
||||
|
Cost per Gourmet Cookie $ (n = 8) |
Statistics |
Descriptive Statistics |
Gourmet Cookie Cost ($) |
Z Score |
|
1.00 |
Mean |
$0.8525 |
1.00 |
1.1581 |
|
0.94 |
Standard
Error |
$0.0450 |
0.94 |
0.6870 |
|
0.87 |
Median |
$0.8750 |
0.87 |
0.1374 |
|
0.88 |
Mode |
$#N/A |
0.88 |
0.2159 |
|
0.74 |
Standard
Deviation |
$0.1274 |
0.74 |
-0.8833 |
|
0.65 |
Sample
Variance |
$^2 0.0162 |
0.65 |
-1.5899 |
|
0.75 |
Kurtosis |
-1.1968 |
0.75 |
-0.8048 |
|
0.99 |
Skewness |
-0.3964 |
0.99 |
1.0796 |
|
Range |
$0.35 |
|||
|
Minimum |
$0.65 |
|||
|
Maximum |
$1 |
|||
|
Sum |
$6.82 |
|||
|
Count |
8 |
|||
|
Coefficient of Variation = 14.94% |
||||
USA 
India