Part a: find the standard deviation and round answer to at least one decimal place part b: find the range rule of thumb and round the answer to one decimal place

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Part a: find the standard deviation and round answer to at least one decimal place part b: find the range rule of thumb and round the answer to one decimal place
Unemployment Benefits The average weekly unemployment benefits (in dollars) for a random selection of states are listed
below. Compare the standard deviation with that obtained by the range rule of thumb (R/4). Comment on the results.
190
209
214
239
251
252
272
272
276
289
310
321
327
356
416
Send data to Excel
Transcribed Image Text:Unemployment Benefits The average weekly unemployment benefits (in dollars) for a random selection of states are listed below. Compare the standard deviation with that obtained by the range rule of thumb (R/4). Comment on the results. 190 209 214 239 251 252 272 272 276 289 310 321 327 356 416 Send data to Excel
Expert Solution
Step 1

(a)

 

Obtain the value of the standard deviation.

 

The value of the standard deviation is obtained below as follows:

 

Use EXCEL Procedure for finding the value of standard deviation.

 

Follow the instruction to obtain the value of standard deviation.

 

  1. Open EXCEL
  2. Go to Formula bar.
  3. In formula bar enter the function as“=STDEV”
  4. Enter the range as $A$1:$A$16.
  5. Click enter.

 

EXCEL output:

 

From the EXCEL output, the value of the standard deviation is 59.81376

 

The value of the standard deviation is 59.8.

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