True and False The central limit theorem says that the values in a random sample are approximately normally distributed, if the sample of size is large enough. For the samples of size bigger than 1, the standard error of the average is larger than the standard deviation of the population. If the standard deviations of two samples are equal, so are their coefficients of variation. The range as a measure of dispersion is very sensitive to extreme data values. The 1st, 2nd, and 3rd questions are false / Last one is true and explain… Which is a correct statement concerning the median? In a left-skewed distribution, we expect that the median will exceed the mean. The sum of the deviations around the median is zero The median is an observed data value in any data set The median is halfway between Q1 and Q3 on a boxplot Answer is B and explain A starbucks manager believes that customer arrivals average 3 per minute. Poisson distributed. Show all work to find the following: What is the expected number of visits per hour? What is the distribution of number of customer visits per hour? What is the standard deviation of number of visits per hour? Here customer visits to Starbucks are Poisson distributed at a rate of 3 per minute. Consider now the time in seconds, between two successive customer visits. What distribution does this time follow? What is the average time between customers (in seconds)? Find the probability that time between two successive customer visits exceeds 50 seconds? Assume that scores on an accounting exam are normally distributed with a mean of 75 and a standard deviation of 15. Show all work to determine the following: What is the minimum passing score if 10% of the students get a failing score? Draw the normal distribution and on it shade area for the 10% and show the score. In class we discuss the presidential primary race and the probability a voter supports a candidate. Assume, for this problem, that the true probability a voter in the Republican primary supports Trump is 0.30, or 30%. If we take a poll before a primary to predict the probability of support for Trump, determine the sample size required so that the poll would have a margin of error of 0.05 or 5%.