The output from a statistical software package indicates that the mean and standard deviation of a data set consisting of 400 measurements are $2,000 and $300, respectively. a. What are the units of measurement of the variable of interest? A. Single measurements B. Units C. Dollars Your answer is correct. Based on the units, what type of data is this, quantitative or qualitative? The data is quantitative . b. What can be said about the number of measurements between $1,400 and $2,600? That at least 3/4 of the measurements are between $1,400 and $2,600. What can be said about the number of measurements between $1,100 and $2,900?

a. What are the units of measurement of the variable of interest?

C. Dollars

Based on the units, what type of data is this, quantitative or qualitative?

The data is quantitative

b. What can be said about the number of measurements between $1,400 and $2,600?

That at least 3/4 or 75% of the measurements are between $1,400 and $2,600.

c. What can be said about the number of measurements between $1,100 and $2,900?

That at least 8/9 of the measurements are between $1,100 and $2,900

Step-by-step explanation:

a. What are the units of measurement of the variable of interest?

C. Dollars

Based on the units, what type of data is this, quantitative or qualitative?

Since the units is in dollars, therefore the data is quantitative.

b) We solve this question using Chebyshev's theorem.

Chebyshev's theorem states that:

1) At least 3/4 of the data lies within two standard deviations of the mean. This means, the interval endpoints :

Mean ± 2Standard deviation

2) At least 8/9 of the data lies within three standard deviations of the mean. This means, the interval endpoints :

Mean ± 3Standard deviation

For the given questions:

b. What can be said about the number of measurements between $1,400 and $2,600?

Mean = $2000

Standard deviation = $300

We would apply the first rule of Chebyshev's theorem.

1) At least 3/4 of the data lies within two standard deviations of the mean. This means, the interval endpoints :

Mean ± 2Standard deviation

$2000 + 2($300)

$2000 + $600

= $2600

$2000 - 2($300)

= $2000 - $600

= $1400

For question b, the first rule of Chebyshev's theorem works.

Therefore, at least 3/4 of the measurements are between $1,400 and $2,600.

c. What can be said about the number of measurements between $1,100 and $2,900?

Mean = $2000

Standard deviation = $300

We would apply the second rule of Chebyshev's theorem.

2) At least 8/9 of the data lies within two standard deviations of the mean. This means, the interval endpoints :

Mean ± 3Standard deviation

$2000 + 3($300)

$2000 + $900

= $2900

$2000 - 3($300)

= $2000 - $900

= $1100

For question c, the second rule of Chebyshev's theorem works.

Therefore, at least 8/9 of the measurements are between $1,100 and $2,900

correct answer:

a + bi

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step-by-step explanation:

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