tag:blogger.com,1999:blog-123604111616439794.post7970855271829619065..comments2020-10-05T09:21:10.019-07:00Comments on Statistics for Business and Economics: How do prices of sandals vary?Chuck Stullhttp://www.blogger.com/profile/16764698108162760118noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-123604111616439794.post-68507780765567464722011-04-17T20:39:09.557-07:002011-04-17T20:39:09.557-07:001. mean= Sum/n= $ 20.625
2. Consider this a sample...1. mean= Sum/n= $ 20.625<br />2. Consider this a sample<br />Calculate standard deviation s= $ 6.3<br /><br />Coefficient of variation = s/mean *100 = 30.5%<br /><br />=> The dispersion of prices is quite far from the mean price (by one third of the mean price).Travelershttps://www.blogger.com/profile/04174776488261901587noreply@blogger.com