Use the Following Duration Times (Seconds) of 24 Eruptions of the Old

question 26

Essay

Use the following duration times (seconds) of 24 eruptions of the Old Faithful geyser in Yellowstone National Park. The duration times are sorted from lowest to highest.
$\begin{array} { c c c c c c c c c c c c } 110 & 120 & 178 & 213 & 234 & 234 & 235 & 237 & 240 & 243 & 245 & 245 \\250 & 250 & 251 & 252 & 254 & 255 & 255 & 259 & 260 & 266 & 269 & 273\end{array}$
Describe how to calculate the limits to determine outliers for this data set? Identify any outliers.

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Definitions:

GAAP

Generally Accepted Accounting Principles, standard guidelines and procedures for financial accounting and reporting in the U.S.

Indirect Method

A method used in cash flow statements where net income is adjusted for items that affected reported net income but did not result in an actual cash flow.

Direct Method

A cash flow statement presentation that lists actual cash inflows and outflows from operating activities.

FASB

The Financial Accounting Standards Board (FASB) is an organization responsible for establishing and improving financial accounting standards in the United States.