1. The following set of data is from a sample n = 6:

7 4 9 7 3 12

a. Compute the mean, median, and mode.

b. Compute the range, variance, standard deviation, and coefficient of variation.

c. Compute the Z scores. Are there any outliers?

d. Describe the shape of the data set.

2. The file accountingpartners contains the number of partners in a cohort of rising accounting firms that have been tagged as “ firms to watch”. The firms have the following numbers of partners.

16 21 27 11 33 20 30 27 31 15 21 20 28 34 23 17 29

13 16 16 13 16 21 17 10 19 10 10 20 25 11 14 13 16

a. Compute the mean, median, and mode.

b. Compute the range, variance, standard deviation, and coefficient of variation.Compute the Z scores. Are there any outliers?

c. Based on the results what conclusions can you reach concerning the number of partners in rising accounting firms?

3. Suppose that another bank branch, located in a residential area, is also concerned with the noon-to-1:00pm lunch hour. The waiting time, in minutes, collected from a sample of 15 customers, are stored at BANK 2:

9.66 5.90 8.02 5.79 8.73 3.82 8.01 8.35

10.49 6.68 5.64 4.08 6.17 9.91 5.47

a. Compute the mean and median.

b. Compute the range, variance, standard deviation, and coefficient of variation.Compute the Z scores. Are there any outliers?

c. Are the data skewed? If so how?

d. As a customer walks into the branch office during the lunch hour, he asks the branch manager how long he can expect to wait. The branch manager replies, “Almost certainly less than five minutes.” On the basis of the results of (a) through (c), evaluate the accuracy of this statement.