Question

suppose the profit a Honda dealership makes on the next 5 Accords it sells are:524, 994,...

suppose the profit a Honda dealership makes on the next 5 Accords it sells are:524, 994, 922, 1,431, 1,328. Calculate the standard deviation of the sample. (please express your answer using 2 decimal places)

Math   Statistics-And-Probability   
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Answer #1

Solution:

Given that

The mean of sample is   

x/n =  (524+ 994+ 922+ 1,431+ 1,328./5 )

= 5199 / 5

= 1039.8

The sample mean is 1039.8

Sample standard deviation is s

s = 1/(n-1)(x - )2

=  1/4 (524 - 1039.8)2+ (994 - 1039.8 )2+ (922 - 1039.8 )2+ (1.431 - 1039.8 )2 +( 1,328 - 1039.8 )2

= 1/4 (266049.64+2097.64+13876.84+153037.44+83059.24 )

= 518120.8 / 4

= 129530.2

= 359.90

Sample standard deviation is 359.90

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