Question

Find the mean, median, range, variance and standard deviation of the data set below. The data...

Find the mean, median, range, variance and standard deviation of the data set below. The data represent the fixed monthly costs for Sam's Linen Service.

Monthly charges

Monthly cost ($)

Bank charges

482

Cleaning

2208

Food

1750

Computer expenses

2471

Lease payments

2656

Grounds fees

1475

Postage

2117

Uniforms

2600

Delivery fuel

955

Homework Answers

Answer #1

Following table shows the ordered data set and calculations for variance:

S.NO. Monthly cost ($), X (X-mean)^2
1 482 1890927.512
2 955 813802.4521
3 1475 146008.0521
4 1750 11472.5521
5 2117 67542.8121
6 2208 123123.7921
7 2471 376860.9321
8 2600 551885.5521
9 2656 638225.2321
Total 16714 4619848.889

Sample size: n =9

Median: It is middle value of ordered data set. That is median will be 5th data value. So median is 2117.

Range:

Maximum - Minimum = 2656 - 482 = 2174

Mean:

Variance:

The standard deviation is:

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