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Statistical Techniques in Business and Economics | 15th Edition | ISBN: 9780073401805 | Authors: Douglas Lind, William Marchal, Samuel Wathen
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Refer to the Buena School District bus data. Prepare a report on the maintenance cost

Chapter 0, Problem 88

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QUESTION:

Refer to the Buena School District bus data. Prepare a report on the maintenance cost for last month. Be sure to answer the following questions in your report. a. Around what values do the data tend to cluster? Specifically what was the mean maintenance cost last month? What is the median cost? Is one measure more representative of the typical cost than the others? b. What is the range of maintenance costs? What is the standard deviation? About 95 percent of the maintenance costs are between what two values?

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QUESTION:

Refer to the Buena School District bus data. Prepare a report on the maintenance cost for last month. Be sure to answer the following questions in your report. a. Around what values do the data tend to cluster? Specifically what was the mean maintenance cost last month? What is the median cost? Is one measure more representative of the typical cost than the others? b. What is the range of maintenance costs? What is the standard deviation? About 95 percent of the maintenance costs are between what two values?

ANSWER:

Step 1 of 8

(a) Let  represent the number of classes and  the number of observations. We then choose  to be equal to the smallest integer  such that

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