Billionaires According to Forbes.com, the numbers of billionaires in the five states in the Midwest with the most billionaires are given in the table. a. Find and report the mean number of billionaires per state in context: The mean number of billionaires in these five state is __________.(report the number of the nearest tenth. b. Sketch a dotplot of the data, and mark the location of the mean. You can use a triangle under the axis (A, like a fulcrum) to mark the location; it should be at the balance point. c. Find and report the standard deviation of the number of billionaires per state in context; round to the nearest tenth. d. Which of the given numbers is farthest from the mean and therefore contributes most to the standard deviation?
Billionaires According to Forbes.com, the numbers of billionaires in the five states in the Midwest with the most billionaires are given in the table. a. Find and report the mean number of billionaires per state in context: The mean number of billionaires in these five state is __________.(report the number of the nearest tenth. b. Sketch a dotplot of the data, and mark the location of the mean. You can use a triangle under the axis (A, like a fulcrum) to mark the location; it should be at the balance point. c. Find and report the standard deviation of the number of billionaires per state in context; round to the nearest tenth. d. Which of the given numbers is farthest from the mean and therefore contributes most to the standard deviation?
Solution Summary: The author explains how to calculate the mean number of billionaires in the five states using MINITAB software.
Billionaires According to Forbes.com, the numbers of billionaires in the five states in the Midwest with the most billionaires are given in the table.
a. Find and report the mean number of billionaires per state in context:
The mean number of billionaires in these five state is __________.(report the number of the
nearest tenth.
b. Sketch a dotplot of the data, and mark the location of the mean. You
can use a triangle under the axis (A, like a fulcrum) to mark the location; it should be at the balance point.
c. Find and report the standard deviation of the number of billionaires per state in context; round
to the nearest tenth.
d. Which of the given numbers is farthest from the mean and therefore contributes most to the
standard deviation?
Definition Definition Number of subjects or observations included in a study. A large sample size typically provides more reliable results and better representation of the population. As sample size and width of confidence interval are inversely related, if the sample size is increased, the width of the confidence interval decreases.
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