The Following Data Are the Heights (In Cm) of the 25

question 52

Essay

The following data are the heights (in cm) of the 25 students in a business statistics class: $$\begin{array} { | l | l | l | l | l | l | l | l | l | l | } \hline 164 & 148 & 137 & 157 & 173 & 156 & 177 & 172 & 169 & 165 \\\hline 145 & 168 & 163 & 162 & 174 & 152 & 156 & 168 & 154 & 151 \\\hline 174 & 146 & 134 & 140 & 171 & & & & & \\\hline\end{array}$$ a. Construct a box plot for the heights.
b. State the interquartile range and identify any outliers.
c. Compare the information regarding skewness conveyed by your box plot with that shown by a
histogram.

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Definitions:

Natural Monopolies

A situation in which a single firm can supply a good or service to an entire market at a lower cost than could two or more firms, due to economies of scale.

Regulated Firms

Companies that are subject to governmental controls and restrictions, typically to ensure fair practices, safety, and compliance with public policies.

Sherman Antitrust Act

An 1890 U.S. legislation aimed at prohibiting monopolistic business practices, thereby promoting competition in the marketplace.

Legal Cartel Theory

The concept that certain regulatory frameworks or practices can create conditions similar to a cartel, affecting competition and prices.