Question: Consider:

The data represents the daily hotel cost and rental car cost for 20 US cities during a week in October 2003. For each variable (hotel cost and rental car cost):

1. Compute the mean, median, first quartile, and third quartile
2. Compute the variance, standard deviation, range, inter-quartile range, and coefficient of variation.
   (c) Are there any outliers? If so, recalculate (a) and (b) excluding these values and compare with the original calculations
   (d) Are the data skewed? If so, how?
   (e) Based on the results of the above sections (a) – (d), what conclusions can you reach concerning the daily cost of a hotel and rental car?
   (f) Generate frequency distribution tables for (i) hotel costs and (ii) rental car costs, and estimate the mean and standard deviation for them. Clearly state all assumptions made. Using this information:
   1. Does the dataset follow the Empirical Rule or Chebyshev's rule?
   2. Construct a 93% confidence interval for the population mean hotel rate
   3. Construct a 93% confidence interval for the population mean car rental rate
   4. What assumption do you need to make about the populations of interest to construct the intervals in (2) and (3)?

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Deliverable: Word Document