Question

The data set below are the unemployment rates from April 2016 through March 2018. The mean unemployment rate is 4.5, the medi
2017-05 4.3 2017-06 4 2017-07 4.3 2017-08 4.4 2017-09 4.2 2017-10 4.1 2017-11 4.1 2017-12 4.1 2018-01 4.1 2018-02 4.1 2018-03
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Answer #1

The mean and median are same and the distribution is symmetric.

All observations lie within 2 standard deviation of mean .

Usual range unemployment rates is

mean + 2sd = 4.5 +2.0.33 = 4.5.0.66 = (3.84,5.16)

Yes, the data appear to be consistent on a monthly basis.

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