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American Express estimates current Halloween spending to be about $53 per person. Much of the spending was expected to come from young adults. A file titled Halloween contains sample data on Halloween spending.
a. Calculate the mean and standard deviation of these data.
b. Determine the following intervals for this data set:
± 1s, ± 2s, ± 3s.
c. Suppose your responsibility as an assistant manager was to determine the price of costumes to be sold. The manager has informed you to set the price of one costume so that it was beyond the budget of only 2.5% of the customers. Assume that the data set has a bell-shaped distribution. |
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