Solved

Auto Insurance the Insurance Institute for Highway Safety Publishes Ratings

Question 789

Essay

Auto insurance The Insurance Institute for Highway Safety publishes ratings for all
models of vehicles to compare the relative risk of payouts. 100 is the mean rating for all
vehicles. A rating of 122 means the vehicle is 22% worse than average. The table at the
right shows the summary statistics for the collision ratings of 27 midsize cars.  Min 57 Q1 99 Median 109 Q3 122 Max 173 Mean 110.9 SD 23.99\begin{array} { | l | r | } \hline \text { Min } & 57 \\\text { Q1 } & 99 \\\text { Median } & 109 \\\text { Q3 } & 122 \\\text { Max } & 173 \\\text { Mean } & 110.9 \\\text { SD } & 23.99 \\\hline\end{array}
a. Were any of the ratings outliers? Show how you made your decision.
b. A histogram of the data is shown. Is it more appropriate to use the mean and standard
deviation, or the median and IQR to describe these data? Explain.  Auto insurance The Insurance Institute for Highway Safety publishes ratings for all models of vehicles to compare the relative risk of payouts. 100 is the mean rating for all vehicles. A rating of 122 means the vehicle is 22% worse than average. The table at the right shows the summary statistics for the collision ratings of 27 midsize cars.  \begin{array} { | l | r | }  \hline \text { Min } & 57 \\ \text { Q1 } & 99 \\ \text { Median } & 109 \\ \text { Q3 } & 122 \\ \text { Max } & 173 \\ \text { Mean } & 110.9 \\ \text { SD } & 23.99 \\ \hline \end{array}   a. Were any of the ratings outliers? Show how you made your decision. b. A histogram of the data is shown. Is it more appropriate to use the mean and standard deviation, or the median and IQR to describe these data? Explain.

Correct Answer:

verifed

Verified

a. Yes. IQR blured image. The upper fence for outlie...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents