Central Tendency 1 SBLI

In New York State, savings banks are permitted to sell a form of life insurance called Savings Bank Life Insurance (SBLI). The approval process consists of underwritting, which includes a review of the application, a medical information bureau check, possible requests for additional medical information and medical exams, and a policy compilation stage during which the policy pages are generated and sent to the bank for delivery. The ability to deliver approved policies to customers in a timely manner is critical to the profitability of this service to the bank. During a period of one month, a random sample of 25 approved policies was selected and the following total processing time in days was recorded.

73           19           16           64           28           28           31           90           60           56           22           18           45           48           17                17           17           91           92           63           50           51           69           16           17

  1. Compute the mean, median, first quartile, and third quartile
  2. Compute the range, interquatile range, variance, standard deviation, and coefficient of variation

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