For the following sample, answer the following:
Remember you can copy and "paste special" the table into the Excel sheet.
Here is a sample of the cost of new cars.
| 36000 |
| 28000 |
| 37000 |
| 38000 |
| 33000 |
| 30000 |
| 32000 |
| 39000 |
| 29000 |
| 35000 |
| 26000 |
| 34000 |
| 25000 |
| 27000 |
Here is a sample of grades on a test.
| 62 |
| 37 |
| 80 |
| 72 |
| 27 |
| 31 |
| 53 |
| 40 |
| 96 |
| 76 |
| 83 |
| 34 |
| 36 |
| 79 |
What is the mean of the car costs?
The standard deviation tells you how spread out the scores are.
What is the sample standard deviation of car costs?
The coefficient of variation tells you how spread out the scores are, relative to the average.
The coefficient of variation is calculated by dividing the standard deviation by the mean.
What is the sample coefficient of variation of car costs?
What is the mean of the grades?
What is the sample standard deviation of grades?
As expected the cost of cars have a higher standard deviation, since the cost of cars is more spread out than the grades.
What is the sample coefficient of variation of grades?
Therefore, while the cost of cars have a higher standard deviation, the costs of cars have a lower coefficient of variation and are less spread out relative to their average cost.
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