An entrepreneur faces many bureaucratic and legal hurdles when starting a new business. The World Bank collects information about starting businesses throughout the world. It has determined the time, in days, to complete all the procedures required to start a business. Data for 187 countries are included in the data set, TTS. For this section, we examine data, rounded to integers, for a sample of 26 of these countries.

 

Find the mean time to start a business for 26 countries in our data set
Find the median time to start a business for 26 countries in our data set
Compute the standard deviation of time to start a business for 26 countries in the data set
Which measure do you prefer for describing the center of this distribution? Explain your answer
Which measure do you prefer for describing the spread of this distribution? Explain your answer.
Make a boxplot for these data, show the five-number summary in the boxplot, and explain & describe the distribution using only the information in the boxplot.

Country	TimeToStart
Bahrain	11
Bhutan	14
Brunei Darussalam	14
Bulgaria	25
Congo, Rep.	51
Dominican Republic	19
El Salvador	19
Finland	16
Guatemala	29
Guyana	20
Japan	14
Jordan	14
Kiribati	33
Lao PDR	69
Lesotho	31
Mozambique	21
Myanmar	59
Nepal	28
New Zealand	3
Samoa	11
Sao Tome and Principe	9
Serbia	8
Togo	8
Turkey	9
United States	8
West Bank and Gaza	64

Answer rating: 100% (QA)

Mean To find the mean time to start a business we add up all the time values and divide by the number of countries Mean 11 14 14 25 51 19 19 16 29 20 ... View the full answer