The Dow Jones Travel Index reported what business travelers pay for hotel rooms per night in major U.S. cities (The Wall Street Journal, January 16,2004). The average hotel room rates for 20 cities are as follows Atlanta | $163| Minneapolis| $125|
Boston | 177| New Orleans| 169|
Chicago| 166| New York| 245|
Cleveland| 126| Orlando| 146|
Dallas| 123| Phoenix| 139|
Denver| 120| Pittsburgh| 134|
Detroit| 144| San Francisco| 167|
Houston| 173| Seattle| 162|
Los Angeles| 160| St. Louis| 145|
Miami| 192| Washington D.C.| 207|
a. What is the mean hotel room rate?
b. What is the median hotel room rate?
c. What is the mode?
d. What is the first quartile?
e. What is the third quartile?
The National Association of Collage and Employers compiled information about annual starting salaries for college graduates by major. The mean starting salary for business administration graduates was $39,850 (CNNM Money.com, February 15, 2006). Samples with annual starting data for marketing majors and accounting majors follow (data are in thousands): Marketing Majors|
34.2| 45| 39.5| 28.5| 37.7| 35.8| 30.6| 35.2| 34.2| 42.4| Accounting Majors|
33.5| 57.1| 49.7| 40.2| 44.2| 45.2| 47.8| 38|
53.9| 41.1| 41.7| 40.8| 55.5| 43.5| 49.1| 49.9|
a. Compute the mean, median, and mode of the annual starting salary for both majors. b. Compute the first and third quartiles for both majors. c. Business administration students with accounting majors generally obtain the highest annual salary after graduation. What do the sample data indicate about the difference between the annual starting salaries for marketing and accounting majors? Question 3:
The American Association of Individual Investors conducted an annual survey of discount brokers (AAII Journal, January 2003). The commissions charged by 24 discount brokers for two types...