19 Jun EXPLAIN WHAT THE MEAN AND STANDARD DEVIATION TELL YOU ABOUT THIS DATA SET.
Question 1: The following data set shows the amount of time consumers must wait on hold, in minutes, before talking to a customer service representative. Compute the mean and standard deviation by hand (or Excel). Insert your answers and calculations in a word document. Last, Explain what the mean and standard deviation tell you about this data set.
Question 2: The distribution of the ages of a nation’s population has a strong influence on economic and social conditions. The following table shows the age distribution of U.S. residents in 1950 and the projected distribution in 2075, in millions of people.
Because the total population in 2075 is much larger than the 1950 population, comparing percent in each age group is clearer then comparing counts.
1. Make a table of the percent of the total population in each age group for both 1950 and 2075. Use Excel or complete the table by hand.
2. Create two histograms using Excel or by hand. Create one histogram for the 1950 data and one for the 2075 data. Note: the Y-axis should be the vertical scale in percent for both the 1950 and 2075 population data. Insert the histograms into a Word document and discuss the main features of each histogram and compare them.
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