Question: The data set below contains spending on products ($) during a three-month period by a sample of 15 customers receiving incentives through a mobile loyalty

 The data set below contains spending on products ($) during a

The data set below contains spending on products ($) during a three-month period by a sample of 15 customers receiving incentives through a mobile loyalty program. Complete parts (a) through (d) below. 55.25 2 67.51 46.49 57.11 108.71 50.43 35.82 78.94 50.63 64.07 59.17 41.54 56.54 53.52 a. Compute the mean and median. The mean is 56.54 (Round to two decimal places as needed. Do not include the $ symbol in your answer.) The median is 55.25 . (Round to two decimal places as needed. Do not include the $ symbol in your answer.) b. Compute the variance, standard deviation, range, and coefficient of variation. The variance is 386.94 (Round to two decimal places as needed. Do not include the $ symbol in your answer.) The standard deviation is 19.67 (Round to two decimal places as needed. Do not include the $ symbol in your answer.) The range is 86.39 . (Round to two decimal places as needed. Do not include the $ symbol in your answer.) The coefficient of variation is 34.79 % (Round to two decimal places as needed.) c. Are the data skewed? If so, how? A. Yes, the data are right-skewed. O B. Yes, the data are left-skewed. O C. No, the data are not skewed. O D. There is not enough information to determine the skewness of the distribution. d. Based on the results of (a) through (c), what conclusions can be reached concerning spending on products by customers receiving incentives through a mobile loyalty program? The average amount spent is $ | and half the customers spent more than $ ]. The average scatter of the amount around the mean is $|]. The difference between the highest amount spent and lowest amount spent is $. (Round to the nearest cent as needed.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!