You deposit 700$ in an account with an annual internet rate of 4% after 5 years
1 answer:
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Answer:
Kindly check explanation
Step-by-step explanation:
Given the data :
Rearranged data:
5, 5, 5, 5, 6, 7, 7, 7, 8, 12, 12, 13, 13, 15, 18, 18, 27, 28, 36, 48, 52, 60, 66, 94
Start time for Suriname = 694
Mean = ΣX / n
Mean = (567 + 694) / (24 + 1) = 1261 / 25 = 50.44
B.) median start Time for initial 24 values
0.5(n+1)th term
0.5(25) = 12.5th term
(13 + 13) / 2 = 13
C.) preferred measure of center for the distribution will be the median as it shapes well in the middle of the distribution. The mean is overestimated
d) Compute the quartiles (Q1, Q2, Q3), and find the IQR for these data. Are there outliers in the time to start a business data set? If so, identify and name any outliers.
Using calculator :
Lower quartile Q1 --> 7
Median Q2 --> 13
Upper quartile Q3 --> 42
IQR = (Q3 - Q1) = 42 - 7 = 35
OUTLIER:
Lower bound : Q1 - 1.5(IQR) ; 7 - 1.5(35) = - 45.5
Upper bound : Q3 + 1.5(IQR) = 42 + 1.5(35) = 94.5
Outlier : values below - 45.5 and above 94.5
Hence, Surimanes start time is the only Outlier.
e)
Standard deviation for 24 countries :
Standard deviation = sqrt[Σ(X - mean)^2 / (N - 1)]
Usibg calculator :
Standard deviation for the 24 countries is 23.83
f)
Standard deviation
