The file HotelPrices contains the prices in English pounds ( about US$ 1.56 as of January 2012) of a room at two- star, three- star, and four- star hotels in cities around the world in 2011. ( Data extracted from press. hotels. com/ en-gb/ files/ 2012/ press.hotels.com/en-gb/files/2012/ 03/ HPI_ 2011_ UK. pdf.) press.hotels.com/en-gb/files/2012/03/HPI_2011_UK.pdf.) Complete the fol-lowing for two- star, three- star, and four- star hotels: a. Compute the mean, median, first quartile, and third quartile. b. Compute the range, interquartile range, variance, stand-ard deviation, and coefficient of variation. c. Interpret the measures of central tendency and variation within the context of this problem. d. Construct a boxplot. Are the data skewed? If so, how? e. Compute the covariance between the average price at two- star and three- star hotels, between two- star and four- star hotels, and between three- star and four- star hotels. f. Compute the coefficient of correlation between the av-erage price at two- star and three- star hotels, between two- star and four- star hotels, and between three- star and four- star hotels. g. Which do you think is more valuable in expressing the relationship between the average price of a room at two- star, three- star, and four- star hotels- the covari-ance or the coefficient of correlation? Explain. h. Based on ( f), what conclusions can you reach about the relationship between the average price of a room at two-star, three- star, and four- star hotels?
3.74 The file PropertyTaxes contains the property taxes per capita for the 50 states and the District of Columbia. a. Compute the mean, median, first quartile, and third quartile. b. Compute the range, interquartile range, variance, stand-ard deviation, and coefficient of variation. c. Construct a boxplot. Are the data skewed? If so, how? d. Based on the results of ( a) through ( c), what conclu-sions can you reach concerning property taxes per capita ( in $ thousands) for each state and the District of Columbia?