Question: The Bureau of Labor Statistics, in its Monthly Labor Review, published the "over-the-month" percent change in the price index for imports from December 2010 to December 2011. These data are reproduced next.
a. Calculate the mean, standard deviation, and interquartile range for these data.
b. Consider the mean calculated in part a. What does this value indicate about the price index?
c. What does the standard deviation indicate about the price index?