Essentials of Statistics (5th Edition)

Published by Pearson
ISBN 10: 0-32192-459-2
ISBN 13: 978-0-32192-459-9

Chapter 3 - Statistics for Describing, Exploring, and Comparing Data - 3-3 Measures of Variation: 5

Answer

Variance:$10547.95(million \$)^2.$ Standard deviation:$102.7 \ million \$$ Range:265m\$.

Work Step by Step

The average can be counted by summing all the data and dividing it by the number of data: $\frac{332+302+235+225+100+90+88+84+75+67}{10}=159.8.$ $\mu=159.8 \ million.$ Variance=$\frac{\sum (x-\mu)^2}{n}=\frac{(332m-159.8m)^2+(302m-159.8m)^2+...+(67m-159.8m)^2}{10}=10547.95 (million \$)^2.$ Standard deviation=$\sqrt{variance}=\sqrt{9493.16(million \$)^2}=102.7 \ million \$$ Range=maximum value-minimum value=332m\$-67m\$=265m\$.
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