Problem Sheet #3

Q1. Ten economists were asked to predict the percentage growth in the Consumer Price
Index over the next year. Their forecasts were as follows:

3.6 3.1 3.9 3.7 3.5 3.7 3.4 3.0 3.7 3.4

a. Compute the sample mean.

b. Compute the sample median.
c. Find the mode.

Left-Skewed Symmetric Right-Skewed

Mean < Median Mean = Median Median < Mean

Q2. The ages of a sample of 12 students enrolled in an online macroeconomics course are as
follows:

21 22 27 36 18 19
22 23 22 28 36 33

a. What is the mean age for this sample?

b. What is the value of the modal age?
c. What is the value of the median age?
d. Please find Range, Interquartile Range (IQR), and Five Number Summary.