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Q. The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louisville, Kentucky. The race track is one and one-quarter miles. The following table show the winners since 1990, their margin of victory, the winning times, and the payoff on a $2 bet.Year Winner Winning Margin(lengths) Winning Time(minutes) Payoff on a$2 Win Bet90 Unbridled 3.5 2.03333 10.8091 Strike the Gold 1.75 2.05000 4.8092 Lil E. Tee 1 2.05000 16.8093 Sea Hero 2.5 2.04000 12.9094 Go for Gin 2 2.06000 9.1095 Thunder Gulch 2.25 2.02000 24.5096 Grindstone Nose 2.01667 5.9097 Silver Charm Nose 2.04000 4.0098 Real Quiet .5 2.03667 8.4099 Charismatic Neck 2.05333 31.3000 Fusaichi Pegasus 1.5 2.02000 2.3001 Monarchos 4.75 1.99950 10.5002 War Emblem 4 2.01883 20.5003 Funny Cide 1.75 2.01983 12.8004 Smarty Jones 2.75 2.06767 4.1005 Giacomo .5 2.04583 50.3006 Barbaro 6.5 2.02267 6.1007 Street Sense 2.25 2.03617 4.9008 Big Brown 4.75 2.03033 6.8009 Mine that Bird 6.75 2.04433 103.2010 Super Saver 2.5 2.07417 18.0011 Animal Kingdom 2.75 2.034 43.80
a. Determine the mean and median for the variables winning time and payoff on a $2 bet.b. Determine the range and standard deviation of the variables winning time and payoff.c. Refer to the variables winning margin. What is the level of measurement? What measure of location would be most appropriate?
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