Question

The amount of time in minutes that it took to complete a grocery store checkout for a sample of 5 transactions is shown below:

Checkout time- 2, 11, 1, 6, 5

Compute the 60th percentile. What does this value mean?

What is the variance?

what is standard deviation?

Answer 1

60th Percentile : 5

Arrange the terms in ascending order : 1 , 2, 5, 6, 11

60th percentile means we want to find the observation such that 60% of all the observations are less than or equal to that observation. In particular, for this example, 60 % of total 5 observations = 3 ; so we want to find that number among these five such that total 3 numbers from these list are equal or below that number. Clearly, such number is 5.

Variance :

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Variance = s--(ri-i)2 Std De 62 N -1 viation Vs2-3.937