ques 2
sample 1
n1=133
xbar 1=1831
s1=0
sample 2
n2=108
xbar 2=1871
s2² = 1309049
cpmbined average = [n1 x1bar + n2 x2bar]/[n1+n2] = (133*1831+108*1871)/(133+108) = 1848.9253
question 3 A
The total number of visa card customers is 133+108=241 cards here.
Thus, the median is (241+1)/2=121th value.
As all 133 visa card customers have bill is 1831,
The median is,$1831
question 3B
since mean>median ,so
the shape of the combined monthly credit card bill is skewed to right
3C
Use
to find the standard deviation of combined monthly credit card bill.
s^2 = =(107*1309049+132*(1831-1848.925)^2+107*(1871-1848.925)^2)/(133+108-2) = 586455.2178
so, s = √s^2 = $765.8036
please CARRY ALL DECIMALS!! Suppose you analyzed the average monthly credit card bill of Visa credit...
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