A Sample of Twelve Families Was Taken

question 106

Essay

A sample of twelve families was taken. Each family was asked how many times per week they dine in restaurants. Their responses are given below.
Using this data set, compute the
a. mode
b. median
c. mean
d. range
e. interquartile range
f. variance
g. standard deviation
h. coefficient of variation

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Definitions:

Reserve Ratio

The fraction of depositors' balances that banks must have on hand as cash, a requirement determined by the central bank.

Money Multiplier

The mechanism by which the base money supply is expanded through the banking system's ability to lend and create deposits.

Reserve Ratio

The portion of depositors' balances that banks must have on hand as cash.

Bank Leverage

The ratio of a bank's total debt to its equity capital, indicating the extent to which bank funding is used to finance its assets.