You are thinking about opening a restaurant in you. neighborhood but before you do so, you...
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You are thinking about opening a restaurant in you. neighborhood but before you do so, you decide to do a little research to figure out what your potential market looks like You randomly select 10 individuals in your neighborhood and ask them how many peopie live in their household (household size) and how often they dine out each month (restaurant visits). The data you collected is given in the table below. Observation Household size Restaurant visits 1 3 2 2 4 1 2 3 34 25 3456 4 8 4 7 8 6 1 5 4453 1 5 10 3 Suppose that after checking your data, you find that the value of restaurant visits for observation 9 was incorrect. The correct number of restaurant visits for that person is 6. Without doing any calculations, explain how the mean, median and standard deviation of restaurant visits would change if you used the correct measurement instead. You are thinking about opening a restaurant in you. neighborhood but before you do so, you decide to do a little research to figure out what your potential market looks like You randomly select 10 individuals in your neighborhood and ask them how many peopie live in their household (household size) and how often they dine out each month (restaurant visits). The data you collected is given in the table below. Observation Household size Restaurant visits 1 3 2 2 4 1 2 3 34 25 3456 4 8 4 7 8 6 1 5 4453 1 5 10 3 Suppose that after checking your data, you find that the value of restaurant visits for observation 9 was incorrect. The correct number of restaurant visits for that person is 6. Without doing any calculations, explain how the mean, median and standard deviation of restaurant visits would change if you used the correct measurement instead.
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Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Posted Date:
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