Wpc300 - 3.7 Test Your Skills Basic Probability Distributions

WPC300 - 3.7 TEST YOUR SKILLS: BASIC
PROBABILITY DISTRIBUTIONS

1.1 - Calculate the mean number of carats in all diamonds.

a. Place your calculation in cell M4.
b. Use the AVERAGE function.
c. Reference the values for the number of carats (E4:E354) in your formula.
d. Reuse your formula to calculate the mean values for the remaining characteristics
(N4:R4). - Answers -=AVERAGE(E4:E354)

• Drag to the right to column R

1.2 - Calculate the median number of carats in all diamonds.

a. Place your calculation in cell M5.
b. Use the MEDIAN function.
c. Reference the values for the number of carats (E4:E354) in your formula.
d. Reuse your formula to calculate the median value for the remaining characteristics
(N5:R5). - Answers -=MEDIAN(E4:E354)

• Drag to the right to column R

1.3 - Calculate the mode for the number of carats in all diamonds.

a. Place your calculation in cell M6.
b. Use the MODE function.
c. Reference the values for the number of carats (E4:E354) in your formula.
d. Reuse your formula to calculate the mode for the remaining characteristics (N6:R6). -
Answers -=MODE(E4:E354)

• Drag to the right to column R

1.4 - Calculate the range for the number of carats in all diamonds.

a. Place your calculation in cell M7.
b. The range is calculated as the difference between the largest and smallest values.
c. Use the MAX and MIN functions.
d. Reference the values for the number of carats (E4:E354) in your formula.
e. Reuse your formula to calculate the range for the remaining characteristics (N7:R7). -
Answers -=MAX(E4:E354) - MIN(E4:E354)

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, 1.5 - Calculate the middle two quartiles for the number of carats in all diamonds.

a. Place your calculation in cell M8.
b. Use the QUARTILE.INC function.
c. Reference the values for the number of carats (E4:E354) in your formula.
d. Reuse your formula to calculate the middle two quartile values for the remaining
characteristics (N8:R8).
e. Hint: the middle two quartiles are calculated as the difference between the values for
the 75th and 25th percentiles. - Answers -= QUARTILE.INC (e4:e354, 3) -
QUARTILE.INC (e4:e354, 1)

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1. 6 - Calculate the sample standard deviation for the number of carats in all diamonds.

a. Place your calculation in cell M9.
b. Use the STDEV.S function.
c. Reference the values for the number of carats (E4:E354) in your formula.
d. Reuse your formula to calculate the sample standard deviation values for the
remaining characteristics (N9:R9). - Answers -= STDEV.S (E4:E354)

• Drag to the right to column R

1.7 - Calculate the number of diamonds with a color rating of D.

a. Place your calculation in cell M13.
b. Use the COUNTIF function.
c. Reference the values for color (C4:C354) and the rating value (L13) in your formula
so that you can reuse your formula to complete the remaining count calculations.
d. Reuse your formula to calculate the number of diamonds with the remaining color
ratings (M14:M19) - Answers -= COUNTIF ($C$4:$C$354, L13)

• Drag down to M19

1.8 - Calculate the number of diamonds with a clarity rating of IF.

a. Place your calculation in cell P13.
b. Use the COUNTIF function.
c. Reference the values for clarity (D4:D354) and the rating value (O13) in your formula
so that you can reuse your formula to complete the remaining count calculations.
d. Reuse your formula to calculate the number of diamonds with the remaining clarity
ratings (P14:P20). - Answers -= COUNTIF ($D$4:$D$354, O13)

• Drag down to P19

1.9 - Create a correlation matrix for some of the dimensions in the dataset.