The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louis
ID: 3273809 • Letter: T
Question
The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louisville, Kentucky. The race track is one and one-quarter miles. The following table shows the winners since 1990, their margin of victory, the winning time, and the payoff on a $2 bet.
Determine the mean and median for the variables winning time and payoff on a $2 bet. (Round your winning time mean and median to 4 decimal places and Payoff answers to 2 decimal places.)
Determine the range and standard deviation of the variables winning time and payoff on a $2 bet. (Round your winning time range and standard deviation to 4 decimal places and Payoff answers to 2 decimal places.)
The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louisville, Kentucky. The race track is one and one-quarter miles. The following table shows the winners since 1990, their margin of victory, the winning time, and the payoff on a $2 bet.
Explanation / Answer
(a)
Average of winning time = (sum of all given winning time)/24 = 48.82879/24 = 2.03453
Average of pay off = (sum of all given payoff)/24 = 457.2/24 = 19.05
To find median, arrange the given data in ascending order
Median of winning time = (2.034 + 2.03667)/2 = 2.035085
Median of pay off = (10.8+12.8)/2 = 11.8
(B)
Sr. No. Winning Time Pay-off 1 1.9995 2.3 2 2.00048 4 3 2.01498 4.1 4 2.01667 4.8 5 2.01883 4.9 6 2.01983 5.9 7 2.02 6.1 8 2.02 6.8 9 2.02267 8.4 10 2.03033 9.1 11 2.03333 10.5 12 2.034 10.8 13 2.03617 12.8 14 2.03667 12.8 15 2.04 12.9 16 2.04 16.8 17 2.04433 18 18 2.04583 20.5 19 2.05 24.5 20 2.05 31.3 21 2.05333 32.6 22 2.06 43.8 23 2.06767 50.3 24 2.07417 103.2Related Questions
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