Question

The interest rates (in percent) on a Huntington Bank automobile loan over the last 15 months were as follows:

1.8, 2.3, 1.6, 2.7, 2.1, 2.9, 3.6, 2.4, 1.9, 2.6, 1.4, 3.4, 2.3, 2.5, 2.2

Calculate the following descriptive statistics for these data.

NOTE: Double-check your data entry. A substantial number of points will be lost if you are not working with the correct data values!!!

a.         Mean:              

(report your answer to 2 decimal places, using conventional rounding rules)

b.         Median:

(report your answer to 2 decimal places, using conventional rounding rules)

c.          Mode:              

(report your answer to 2 decimal places, using conventional rounding rules)

d.         Standard deviation:       

(report your answer to 4 decimal places, using conventional rounding rules)

e.          Range:             

(report your answer to 2 decimal places, using conventional rounding rules)

f.          The 35^th percentile:       

(report your answer to 2 decimal places, using conventional rounding rules)

g.         The interquartile range:

(report your answer to 2 decimal places, using conventional rounding rules)

h.          The z-score for a month where the interest rate is 3.64%:  

(report your answer to 2 decimal places, using conventional rounding rules)

i.           Use the Empirical Rule to establish an interval which includes about 95% of the observations:

The interval is from  % up to  % (report your answers to 2 decimal places, using conventional rounding rules)

j.          Determine the coefficient of skewness for these data using Pearson’s method.

(round your answer to 2 decimal places, using conventional rounding rules)

Answer 1