Question

The weekly salaries of a sample of employees at the local bank are given in the table below. Employee Weekly Salary

Answer 1

Answer:

17507.5

Step-by-step explanation:

Given :

Weekly Salary  

Anja          $245  

Raz           $300  

Natalie     $325  

Mic           $465  

Paul         $100

Formula given :

$S^2 =\frac{(x_1-\bar x)^2+(x_2-\bar x)^2+....+(x_n-\bar x)^2}{n-1}$

Where $\bar x$  is mean

n = no. of observations

To find: What is the variance for the data?

Solution:

Now to find mean :

$Mean = \frac{\text{Sum of all observations}}{\text{Total no. of observations}}$

$Mean = \frac{245+300+325+465+100}{5}$

$Mean = \frac{1435}{5}$

$Mean = 287$

So, $\bar x = 287$

$x_1 = 245$

$x_2 = 300$

$x_3 = 325$

$x_4 = 465$

$x_5 = 100$

n = 5

Substitute the values in the formula :

$S^2 =\frac{(245-287)^2+(300-287)^2+(325-287)^2+(465-287)^2+(100-287)^2}{5-1}$

$S^2 =\frac{70030}{4}$

$S^2 =17507.5$

Hence the variance of the data is 17507.5

Answer 2

I just took the test and the correct answer is 17,507.5