Students in a statistics class were asked the cost of their last haircut. Th e data set

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Students in a statistics class were asked the cost of their last haircut. Th e data set can be found on the textbook website as HaircutCosts. Put this data set into the Descriptive Statistics applet and answer the following questions.
a. Is the distribution of haircut costs symmetric, skewed tothe left , skewed to the right, or something else?
b. Would you think the mean haircut cost is about the same as the median, higher than the median, or lower than the median? Why?
c. Find and report both the mean and median haircut costs. Were you correct in your answer to the previous question?
d. The highest haircut cost is $150 and there were three of these. Suppose one of the students who reported $150 actually had a haircut cost of $300 but reported it to be $150. If this student’s haircut value were changed, how, if at all, would it change the mean haircut cost for the class? How, if at all, would it change the median? (Change one of the $150 to $300 and verify your answer.)

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Introduction To Statistical Investigations

ISBN: 9781118172148

1st Edition

Authors: Beth L.Chance, George W.Cobb, Allan J.Rossman Nathan Tintle, Todd Swanson Soma Roy

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