Jennifer 229 Samantha 425 Phillip 565 Erin 246 Stanley 348 Dominic 315 Luke 278 Charlie 198 Lexie 189 Amol 205 Margaret 364 Lenisa 425   a. Compute the mean (in $1000), variance (in $10002), and standard deviation (in $1000) for these annual sales values. Round your answers to the nearest whole number. Mean   thousand Variance     thousand2 Standard deviation     thousand b. In the previous fiscal year, the average annual sales amount was $298 thousand with a standard deviation of $85 thousand. Discuss any differences you observe between the annual sales amount in the most recent and previous fiscal years. (i) The difference in the

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 11PPS
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Varatta Enterprises sells industrial plumbing valves. The following table lists the annual sales amounts for a portion of the salespeople in the organization for the most recent fiscal year.

 

 

Salesperson Sales Amount ($1000) Salesperson Sales Amount ($1000)
Joseph 153 Wei 471
Jennifer 229 Samantha 425
Phillip 565 Erin 246
Stanley 348 Dominic 315
Luke 278 Charlie 198
Lexie 189 Amol 205
Margaret 364 Lenisa 425

 

a. Compute the mean (in $1000), variance (in $10002), and standard deviation (in $1000) for these annual sales values. Round your answers to the nearest whole number.

Mean   thousand
Variance     thousand2
Standard deviation     thousand

b. In the previous fiscal year, the average annual sales amount was $298 thousand with a standard deviation of $85 thousand. Discuss any differences you observe between the annual sales amount in the most recent and previous fiscal years.

(i) The difference in the mean annual sales amount is very small and is most likely due to random change in demand for these products.

(ii) The sample mean annual sales amount and standard deviation for the previous fiscal year were significantly higher.

(iii) The sample mean annual sales amount and standard deviation for the previous fiscal year were significantly lower.

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