Listed below are amounts (in millions of dollars) collected from parking meters by a security service company and other companies during similar time periods. Security Service Company:Security Service Company: 1.51.5 1.71.7 1.41.4 1.31.3 1.61.6 1.41.4 1.71.7 1.51.5 1.41.4 1.61.6 Other Companies:Other Companies: 1.71.7 1.91.9 1.61.6 1.81.8 1.61.6 1.81.8 1.51.5 1.61.6 1.91.9 1.61.6 Please show me how to locate the coefficient of variation for each of the two samples, then compare the variation, using the coefficient of variation for the amount collected by the security service company what is the percentage?
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
|
Security Service Company:Security Service Company:
|
1.51.5
|
1.71.7
|
1.41.4
|
1.31.3
|
1.61.6
|
1.41.4
|
1.71.7
|
1.51.5
|
1.41.4
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1.61.6
|
|
|---|---|---|---|---|---|---|---|---|---|---|---|
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Other Companies:Other Companies:
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1.71.7
|
1.91.9
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1.61.6
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1.81.8
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1.61.6
|
1.81.8
|
1.51.5
|
1.61.6
|
1.91.9
|
1.61.6
|
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