The cost of 14 models of digitals cameras at a camera specialty store during 2014 was as follows: 340 450 450 280 220 340 290 370 400 310 340 430 270 380
1. Compute mean, median, mode, first and third quartile. 2. Compute the variance, standard deviation, range, interquartile range, coefficient of variation, standard error of the mean and Z scores. 3. Determine whether or not there are outliers? Explain. 4. Determine whether or not the data are skewed? If so, how? 5. Based on the previous results what conclusions can you reach concerning the price of digital cameras at a camera specialty store during 2014. 6. Construct a 90%, 95%, 99% confidence interval for the population mean cost of digitals cameras. 7. Interpret the meaning of each interval. 8. What assumption do you need to make about the population of interest to construct the confidence intervals?
