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Basic Statistics for Business and Economics | 7th Edition | ISBN: 9780077384470 | Authors: Douglas Lind; William Marchal; Samuel Wathen ISBN: 9780077384470 64

Solution for problem 28E Chapter 4

Basic Statistics for Business and Economics | 7th Edition

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Basic Statistics for Business and Economics | 7th Edition | ISBN: 9780077384470 | Authors: Douglas Lind; William Marchal; Samuel Wathen

Basic Statistics for Business and Economics | 7th Edition

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Problem 28E

Listed below is the amount of commissions earned last month for the eight members of the sales staff at Best Electronics. Calculate the coefficient of skewness using both methods. Hint: Use of a spreadsheet will expedite the calculations.

980.9

1,036.5

1,099.5

1,153.9

1,409.0

1,456.4

1,718.4

1,721.2

Step-by-Step Solution:
Step 1 of 3

 Solution:  

Step1 of 1:

       The given data is

       

   980.9

1,036.50

1,099.50

1,153.90

1,409.00

1,456.40

1,718.40

1,721.20

     Here we need to find the coefficient of skewness using both methods.  

  In this problem we don't have a mode. So we need to find another method.

 That is,  

   The formula for pearson coefficient of skewness for the median is

                   

 

  Now, we need to find mean, median and standard deviation.

 

      Mean 

                 

                 

 ...

Step 2 of 3

Chapter 4, Problem 28E is Solved
Step 3 of 3

Textbook: Basic Statistics for Business and Economics
Edition: 7
Author: Douglas Lind; William Marchal; Samuel Wathen
ISBN: 9780077384470

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