Question

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow. 8,072 1,319 1,798 8,524 2,361 10,956 585 14,138 6,194 1,776 2,705 1,302 10,078 7,179 3,859 4,167 709 2,042 3,507 5,562 7,974 Provide a five-number summary. Smallest value First quartile Median Third quartile Largest value Compute the lower and upper limits. Lower limit Upper limit Do the data contain any outliers? Johnson & Johnson's sales are the largest on the list at $14,138 million. Suppose a data entry error (a transposition) had been made and the sales had been entered as $41,138 million. Would the method of detecting outliers in part (c) identify this problem and allow for correction of the data entry error? Which of the following box plots accurately displays the data set?

Answer 1

The Descriptive Statistics for the data is as fallow

1) Descriptive Statistics: Annual sales

Variable Mean Minimum Q1 Median Q3 Maximum
Annual sales 4842 585 1782 3683 7849 14138

2) Following Box-plot Show that there is no outlier in the data

3) If the data for Johnson & Johnson's has been entered wrongly as 41,138 instead of 14,138 the following shows the outlier of the data. The red Dot shows the outlier of the data which is 41,138.

Among the two box plots first box plot accurately displays the data set.