University of Amsterdam Hospitality Management Central Tendency and Dispersion

Use the table above to answer the following questions. Show ALL of your work for fullcredit.Amount of money (in dollars) spent last month on various expenses.Type of Expense CostClothing 370.00Credit card payments 730.00Mortgage payment 1,920.00Student loan payments 811.00Vacation expenses 987.00Car repair payment 193.00Groceries 224.001. Calculate the mean, median, and mode cost of last month’s expenses.2. Calculate the range and interquartile range of last month’s expenses.Step 1: Put the numbers in order.Step 2: Find the median.Step 3: Place parentheses around the numbers above and below the median. Step 4: Find Q1 and Q3Step 5: Subtract Q1 from Q3 to find the interquartile range.3. Which of the expenses in the table above is an outlier? Why?4. Find the variance and standard deviation. How many standard deviations is the costof the mortgage payment from the mean cost of all expenses.Responses 25. Explain the difference between the mean and the median. Also, indicate whether thedata is skewed or not. Why?