PNC Bank recently conducted a consumer spending survey. A random sample of their

Question

PNC Bank recently conducted a consumer spending survey. A random sample of their customers' monthly credit card charges, in dollars, provides the following data: 713 396 475 170387 450 991396 333 520 Use this data to calculate the following descriptive statistics: Mean (report your final answer to 2 decimal places, using conventional rounding rules) ANSWER: Median (report your final answer to 2 decimal places, using conventional rounding rules) ANSWER: Mode (report your final answer to 0 decimal places, using conventional rounding rules) ANSWER: Standard Deviation (report your final answer to 2 decimal places, using conventional rounding rules) ANSWER: Calculate the 35th percentile for these data (report your final answer to 2 decimal places, using conventional rounding rules) ANSWER: Ca cu ate the appropriate measure of dispersion variability for the middle 50% ofthe distribution report your final answer to 2 decimal places, using conventional rounding rules . ANSWER: Calculate the z-score for a customer whose monthly credit card charge is $519.15 (report your final answer to 2 decimal places, using conventional rounding rules) ANSWER

Explanation / Answer

The statistical software output for this problem is:

Summary statistics:

Hence,

Mean = 483.1

Median = 423

Mode = 396

Standard deviation = 225.66

35th percentile = 396

Measure of dispersion for middle 50% of the distribution = IQR = 133

z score = (519.15 - 483.1)/225.66 = 0.16

Column Mean Median Mode Std. dev. IQR 35th Per. Data 483.1 423 396 225.66172 133 396

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