The Center for International Trade Development (CITD), provides a listing of the top 30 U.S. export markets

Question:

The Center for International Trade Development (CITD), provides a listing of the top 30 U.S. export markets for sparkling wines. Data on the amount exported (thousands of dollars) and 3-year percentage change for the 30 countries in a recent year are saved in the WINEX file. (Data for 5 countries are listed in the table.) Descriptive statistics for these variables are shown in the Minitab printout (next column).

5 of the Top 30 U.S. Sparkling Wine Export Markets

3-Year Change (%) 71.9 -16.9 143.2 280.7 465.8 Export ($ Thousands) 4952 3714 Country Canada Japan Mexico Cayman Islands

a. Locate the mean amount exported on the printout and practically interpret its value.
b. Locate the median amount exported on the printout and practically interpret its value.
c. Locate the mean 3-year percentage change on the printout and practically interpret its value.
d. Locate the median 3-year percentage change on the printout and practically interpret its value.

Descriptive Statistics: EXPORT, CHANGE Variable # Mean St Dev Minimum EXPORT CHANGE Q1 Median Q3 Maximam ICR 4952 418 57

e. Use the information on the printout to find the range of the amount exported.
f. Locate the standard deviation of the amount exported on the printout.
g. Use the result, part f, to find the variance of the amount exported.
h. If one of the top 30 countries is selected at random, give an interval that is likely to include the export amount for this country.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Business And Economics

ISBN: 9780134506593

13th Edition

Authors: James T. McClave, P. George Benson, Terry Sincich

Question Posted: