ECON 2A03 Study Guide - Final Guide: Pearson Education, Unimodality, Summary Statistics
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Short answer - quiz a: below is a histogram of salaries (in $) for a sample of marketing managers. Answer: the distribution is unimodal and skewed to the right. : 1: below is the five-number summary of salaries (in $) for a sample of marketing managers. Answer: we would expect the mean salary to be higher than the median because the distribution is skewed to the right, the median is preferred over the mean when the distribution is skewed, ,060, ,057. 77,020: below is the five-number summary of salaries (in $) for a sample of marketing managers. Suppose the marketing manager who was earning ,420 got a raise and is now earning ,000. Indicate how this change would affect the following summary statistics (increase, decrease, or stay about the same): mean, median, range, standard deviation. Answer: stay the same, stay the same.
