The results of Accounting Principals' latest Workonomix survey indicate the averageAmerican worker spends $1092 on coffee annually (The Consumerist, January 20, 2012).To determine if there are any differences in coffee expenditures by age group, samples of10 consumers were selected for three age groups (18-34, 35-44 and 45 and older). The dollar amount each consumer in the sample spent last year on coffee is provided below.18-3435-4445+1355969113511543495614561792400204515001374162112771244994105682519371922763120013501192156715861305139014151510 Required: 1. Compute the mean, variance, and standard deviation for each of these three samples. Note: Please provide a clear and understandable solutions and answers. Thank you!

For groups 18-34 18-34 (x) x2 1355 1836025 115 13225 1456 2119936 2045 4182025 1621…

Answered: Compute the mean, variance, and…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The results of Accounting Principals' latest Workonomix survey indicate the average
American worker spends $1092 on coffee annually (The Consumerist, January 20, 2012).
To determine if there are any differences in coffee expenditures by age group, samples of
10 consumers were selected for three age groups (18-34, 35-44 and 45 and older).
The dollar amount each consumer in the sample spent last year on coffee is provided below.

18-34	35-44	45+
1355	969	1135
115	434	956
1456	1792	400
2045	1500	1374
1621	1277	1244
994	1056	825
1937	1922	763
1200	1350	1192
1567	1586	1305
1390	1415	1510

Required:

1. Compute the mean, variance, and standard deviation for each of these three samples.

Note: Please provide a clear and understandable solutions and answers. Thank you!

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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