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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich
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Top research universities. Each year, the Center for

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QUESTION:

Top research universities. Each year, the Center for Measuring University Performance produces a report on America’s top research universities. The total expenditures (in thousands of dollars) for research for the top 20 ranked universities from the 2010 Annual Report are listed in the table.

a. Find the mean of the research expenditures for the top 20 ranked universities. Interpret this value.

b. Find the median of the research expenditures for the top 20 ranked universities. Interpret this value.

c. Consider a university president who is interested in the distribution of research expenditures of all American universities. Would the mean, part a, be a good measure of the center of this distribution? Explain.

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QUESTION:

Top research universities. Each year, the Center for Measuring University Performance produces a report on America’s top research universities. The total expenditures (in thousands of dollars) for research for the top 20 ranked universities from the 2010 Annual Report are listed in the table.

a. Find the mean of the research expenditures for the top 20 ranked universities. Interpret this value.

b. Find the median of the research expenditures for the top 20 ranked universities. Interpret this value.

c. Consider a university president who is interested in the distribution of research expenditures of all American universities. Would the mean, part a, be a good measure of the center of this distribution? Explain.

ANSWER:

Solution:

Step 1 of 3:

The total expenditures for research for the top 20 ranked universities from the 2010 Annual Report are given.

                           

 Rank

Expenditure

1

1,680,927

2

885,182

3

881,777

4

876,390

5

871,478

6

842,027

7

766,906

8

765,135

9

708,244

10

702,592

11

688,225

12

682,662

13

659,626

14

642,519

15

620,432

16

595,627

17

591,770

18

584,170

19

582,365

20

563,967

  1. We have to find and interpret the mean of the research expenditures for the top 20 ranked universities.
  2. We have to find and interpret the median of the research expenditures for the top 20 ranked universities.
  3.  We have to find the measure of central tendency.

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