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Here Are Some Summary Statistics for All of the Runners  time =129\text { time } = 129

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Here are some summary statistics for all of the runners in a local 12 kilometre race: slowest  time =129\text { time } = 129 minutes,  mean =79\text { mean } = 79 minutes,  median =79\text { median } = 79 minutes,  range =99\text { range } = 99 minutes, IQR=64\mathrm { IQR } = 64 \text {, } Q1=32\mathrm { Q } 1 = 32 standard  deviation =11\text { deviation } = 11 minutes.Suppose last year's race results were better by 8%.Find last year's mean and standard deviation.Express your answer in exact decimals.


Definitions:

Assembly Process

The method or series of actions taken to assemble components into a finished product.

Hypothesis Test

A technique in statistical analysis that leverages sample data for examining a hypothesis related to a population attribute.

Significance Level

The significance level is the threshold below which a p-value indicates that the null hypothesis can be rejected, commonly set at 0.05 or 5%.

Business Graduates

Individuals who have completed an academic degree in business studies, such as a Bachelor's or Master's in Business Administration.

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