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Missy Walters owns a mail-order business specializing in baby clothes. She is considering offering her customers a discount on shipping charges based on the dollar-amount of the mail order. Before Missy decides the discount policy, she needs a better understanding of the dollar-amount distribution of the mail orders she receives. Missy had an assistant randomly select 50 recent orders and record the value, to the nearest dollar, of each order as shown below.
a. Determine the mean, median, and mode for this data set.
b. Determine the 80th percentile.
c. Determine the first quartile.
d. Determine the range and interquartile range.
e. Determine the sample variance, sample standard deviation, and coefficient of variation.
f. Determine the z-scores for the minimum and maximum values in the data set.
Empirical
Relies on, deals with, or can be proven through watching or undergoing something firsthand rather than through theoretical or strictly logical means.
Comparative
Involving the assessment or analysis of similarities and differences between two or more entities.
Pragmatic
A practical approach to problems and affairs, focusing on the results and consequences of actions.
Empirical Reasoning
A method of thinking that relies on observation and experience rather than theory or pure logic.
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