There are four questions with multiple parts

• Use Restaurant sheet to answer this question.
• Use Top 50 Grad Programs sheet to answer this question.
  • Indicate the level of data measurements for Out-of-State tuition and fee levels. [Hint: whether nominal, ordinal, interval or ratio.]
  • Calculate the largest (max) and smallest (min) annual out-of-state tuition and fee levels.
  • Find the annual out-of-state tuition and fee levels at each of the 25th, and 75th percentiles for these schools.
• Use Salary sheet to answer this question.
• Use CEO Pay sheet to answer this question.
  • Calculate the values of mean, and median for Total Compensation.

1. The file Exam-2.xlsx, sheet named Restaurant lists the times required to service 200 consecutive customers at a (fictional) fast-food restaurant. Use the data to construct a box-and-whisker plot. Discuss the skewness of the distribution of these data and point out any outlier(s).

2. The file Exam-2.xlsx, sheet named Top 50 Grad Programs includes data on the 50 top graduate programs in the United States, according to a 2009 U.S. News & World Report survey.

[Note: Your answers should be placed in Top 50 Grad Programs sheet. Do not create a new sheet or a new workbook.]

3. The file Exam-2.xlsx, sheet named Salary contains salaries of 200 recent graduates from a (fictional) MBA program. Assume these are sample data.

(a)If the empirical rules apply here, between which two numbers can you be about 68% sure that the salary of any one of these 200 students will fall? Do the empirical rules for standard deviations apply to these data?

(b)If you increased every graduate’s salary by $1000, what would happen to the standard deviation of the salaries? In order to receive full credit, you must justify your answer.

4. The Wall Street Journal CEO Compensation Study analyzed CEO pay from many U.S. companies with fiscal year 2008 revenue of at least $5 billion that filed their proxy statements between October 2008 and March 2009. The data are in the file Exam-2.xlsx, sheet named CEO Pay. Recode the data into a new data set, making one transformation: create a new variable called Total Compensation = Salary 2008 + Bonus 2008. Using this newly recoded Total Compensation variable, answer the following questions:

1. Calculate the skewness for Total Compensation (Use Excel function SKEW). Is the distribution of the Total Compensation skewed? Negatively (left) or positively (right)?
2. Based on your answer for part (b), which measures, mean or median, should be used as a measure of central tendency? Why?

This is the excel sheets.