The most frequently used measures of central tendency for quantitative data are the mean and the median. The following table shows civil service examination scores from 24 applicants to law enforcement jobs:
83 74 85 79
82 67 78 70
18 93 64 27
93 98 82 78
68 82 83 99
96 62 93 58
Using Excel, find the mean, standard deviation, and 5-number summary of this sample.
Construct and paste a box plot depicting the 5-number summary.
Does the dataset have outliers? If so, which one(s)?
Would you prefer to use the mean or the medianas this dataset’s measure of central tendency? Why?
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Some argue that the growth of trade with low-wage countries reduce the median wage for full-time workers, especially those without a college degree. This is definitely one source of impacts that the growth of trade might have on the domestic economy. But on the other hand, this leads to lower prices for millions of US consumers and/or businesses. And in particular, the lower input prices for the businesses have the potential for business expansion and more employment. What do you think of this aspect of the trade agreement changes?
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