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Descriptive Statistics:Mean, Median, S.D. & Skewness

1. Listed below are the salaries for the New York Yankees for the year 2004. The salary information is reported in millions of dollars.

21.7 18.6 16.0 15.7 12.4 12.0 10.9 9.0
9.0 8.5 7.0 6.0 3.5 3.0 2.7 2.0
1.9 1.8 1.0 0.9 0.8 0.8 0.7 0.5
0.3 0.3

a. Determine the mean, median, and the standard deviation.
b. Determine the coefficient of skewness using Pearson's method.
c. Determine the coefficient of skewness using the software method.

Solution Summary

The solution provides step by step method for the calculation of descriptive statistics. Formula for the calculation and Interpretations of the results are also included.

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