Question

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

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: