A student advocacy group at a large western university was
interested in estimating the average rent ($) that off-campus
students pay per month. Five randomly selected, off-campus students
were chosen and their respective monthly rent liabilities were
recorded The raw data are found in Table 1. Let "x" denote the
monthly rent reported.
We want to find the standard deviation. The formula for standard deviation is We will write out all the steps.
a. Fill in the missing table cells. Note that the sample mean will be the same for each column. Round your answers to two decimal places. Be aware that small rounding errors in early calculations can become big errors if used in further calculations.
|x - x|
|(x - x)2|
b. The squared deviation for the first observation equals:
c. The sum of squared deviations (or Sum of Squares)
d. This variance
e. The standard deviation equals
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