To complete this assignment successfully, you should:

1. Study the assignment carefully
2. Use Excel to complete your assignments.
3. Send the Excel spreadsheet as an attachment through WebMail .

§ Descriptive Measures §

Assignments

Send  to your instructor a single Excel file (including written answers) as e-mail an attachment through WebMail. addressed to mailto:BA501@mail.cba.nau.edu and put "BA501 (last name) Assignment name and number" somewhere in the e-mail "subject." If you have any questions on this home work, please e-mail me with questions.  Put the different exercise outputs on separate sheets in the Excel file.  Here is the Excel worksheet for this assignment.  Use "save as" to save it to your computer or to a floppy.

Exercise 1 Answer the questions below for the following data set:

-32, -49, 16, 1, -20, 2, 41, 10, 50, 42,10, 50, 42, 10, -17, -7, -50, -7, 16,

-26, 43,-18, 39, -26, 43, -18, 39,-26, -47, -35, 43, -8

(Hint: use Excel to help answer these questions.)

(a) Do the data appear to be bell-shaped? Why or why not?

(b) Using the empirical rule, estimate the range of values within which about 68% of the data values are expected to lie.

(c) What is the actual percentage of data which lies in this range?

Exercise 2 The mean rate charged by the lawyers in a certain city in Arizona is about $125 per hour, with a standard deviation of $20. Assuming that the data came from a normal population, estimate the range of rates within which about 99.7% of the lawyers' charges are expected to lie.

Exercise 3 The mean is 85, the standard deviation is 8, and one particular x value is 61.

(a) Calculate the Z score. In addition to showing the hand calculation, use the STANDARDIZE function in Exel-Paste Function-Statistical-Standardize to show the same result. The "Paste Function" is f_x on the tool bar.

(b) Interpret the Z Score.

Exercise 4 The following data represent a random sample of the annual premiums for a family medical health insurance policy:

Consumer Reports, August 1990, pp. 546-549.

Use Excel to calculate the following values:

(a) Mean

(b) Median

(c) Mode

(e) Standard dev.

(d) Variance

(f) Range

(g) Z score for First National Life and Empire Blue Cross (interpret each)