You can find a dataset giving the cost (in 1976 US dollars), number of megawatts, and year of construction of a set of nuclear power plants at http://lib.stat.cmu.edu/DASL/Datafile... You can find a dataset giving the cost (in 1976 US dollars), number of megawatts, and year of construction of a set of nuclear power plants at http://lib.stat.cmu.edu/DASL/Datafiles/NuclearPlants.html. (a) Are there outliers in this data? (b) What is the mean cost of a power plant? What is the standard deviation? (c) What is the mean cost per megawatt? What is the standard deviation? (d) Plot a histogram of the cost per megawatt. Is it skewed? Why?
Understand the Problem
The question is asking to analyze a dataset of nuclear power plants. It requires us to identify any outliers in the data, calculate the mean and standard deviation of the cost of power plants and the cost per megawatt, and create a histogram to assess skewness.
Answer
To explore the dataset, assess outliers using IQR, calculate mean and standard deviation for cost and cost per megawatt using statistical tools, and analyze distribution skewness with a histogram.
To analyze the dataset, determine if there are outliers in the cost data using IQR or a boxplot. The mean cost and standard deviation can be calculated using statistical software or a calculator. For cost per megawatt, compute these metrics using the derived cost values and explore the data's distribution using a histogram. The histogram will help identify any skewness.
Answer for screen readers
To analyze the dataset, determine if there are outliers in the cost data using IQR or a boxplot. The mean cost and standard deviation can be calculated using statistical software or a calculator. For cost per megawatt, compute these metrics using the derived cost values and explore the data's distribution using a histogram. The histogram will help identify any skewness.
More Information
When assessing if a dataset has outliers, techniques such as the Interquartile Range (IQR) or visualizations like boxplots are commonly used. Histograms provide a visual way to understand the distribution of data, such as identifying skewness.
Tips
A common mistake is not converting costs or capacity to consistent units before calculations, affecting accuracy.
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