What was the most frequent dollar amount given?

Beginning of Analysis
Each week, you will be asked to respond to the prompt or prompts in the discussion forum. Your initial post should be 75-150 words in length, and is due on Sunday. By Tuesday, you should respond to two additional posts from your peers.
Last week, we looked at a scenario in which:
ABC Enterprises is a growing company in which employees must frequently travel for business. Currently, each employee is allotted 30 dollars each day to cover all meals. Employees have complained that this is not enough, especially when traveling to some of the more costly cities and countries. A survey was taken to get recommendations for a new allotment. Although not all responded, the response rate was good.
This week, you are going to use several key numbers to interpret the data. Open the EXCEL Spreadsheet you downloaded last week. Make sure you navigate to the Week 2 tab.
Calculate the following in EXCEL.
Mean, median, mode, range, standard deviation of the SAMPLE,
Then, answer these questions.
What was the most frequent dollar amount given? Does that number seem to be in alignment with the other measures of central tendency? Why or why not?
What is standard deviation? Does the standard deviation show that the data is clumped all together or spread apart?
Let’s say that the data is normally distributed. The assigned chapters of the week mention the Empirical Rule. What dollar amount range is one standard deviation from the mean? What percentage of values are within one standard deviation from the mean?
Using that same Empirical rule and let’s say the data is normally distributed, in what monetary range do 95.44% of all the responses fall?
What is your analysis of what the company should do? What should the new dollar amount be? Why?

Last Completed Projects