Elementary Statistics (12th Edition)

Published by Pearson
ISBN 10: 0321836960
ISBN 13: 978-0-32183-696-0

Chapter 3 - Statistics for Describing, Exploring, and Comparing Data - 3-3 Measures of Variation - Basic Skills and Concepts: 11

Answer

Variance:$82.62 \ (\$)^2$. Standard deviation:$9.09 \$$ Range:$22.85\$$.

Work Step by Step

By using the results from before: $\mu=59.22 \ \$.$ Variance=$\frac{\sum (x-\mu)^2}{n}=\frac{(55.99-59.22)^2+(69.99-59.22)^2+...+(59.68-59.22)^2}{6}=82.62 \ (\$)^2.$ Standard deviation=$\sqrt{variance}=\sqrt{82.62 \ (\$)^2}=9.09 \$$ Range=maximum value-minimum value=$71.77 \$-48.92 \$=22.85\$$.
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