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: 6

Answer

Variance:$1088153.82 \$^2.$ Standard deviation:$1043.14\$$ Range:3335\$.

Work Step by Step

The mean can be counted by summing all the data and dividing it by the number of data: $\frac{54410+51991+51730+51300+51196+51190+51122+51115+51037+50875}{10}=51596.6 $$\mu=51596.6\$.$ Variance=$\frac{\sum (x-\mu)^2}{n}=\frac{(54410-51596.6)^2+(51991-51596.6)^2+...+(50875-51596.6)^2}{10}=1088153.82 \$^2.$ Standard deviation=$\sqrt{variance}=\sqrt{1088153.82 \$^2}=1043.14\$$ Range=maximum value-minimum value=54410\$-50875\$=3335\$.
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