Savings banks are permitted to sell a form of life insurance called savings bank life insurance (SBLI). The approval process consists of underwriting, which includes a review of the application, a medical information bureau check, possible requests for additional medical information and medical exams, and a policy compilation stage during which the policy pages are generated and sent to the bank for delivery. The ability to deliver approved policies to bank customers in a timely manner is critical to the profitability of this service to the bank. During a period of one month, a random sample of 27 approved policies was selected, and the following total processing times in days, were recorded; 73 19 16 64 28 28 31 90 60 56 31 56 22 18 45 48 17 17 17 91 92 63 52 51 69 16 17 What is the standard deviation of the data? A.) 25.82 B.) 28.52 C.) 25.28 D.) 28.25
Savings banks are permitted to sell a form of life insurance called savings bank life insurance (SBLI). The approval process consists of underwriting, which includes a review of the application, a medical information bureau check, possible requests for additional medical information and medical exams, and a policy compilation stage during which the policy pages are generated and sent to the bank for delivery. The ability to deliver approved policies to bank customers in a timely manner is critical to the profitability of this service to the bank. During a period of one month, a random sample of 27 approved policies was selected, and the following total processing times in days, were recorded;
| 73 | 19 | 16 | 64 | 28 | 28 | 31 | 90 | 60 |
| 56 | 31 | 56 | 22 | 18 | 45 | 48 | 17 | 17 |
| 17 | 91 | 92 | 63 | 52 | 51 | 69 | 16 | 17 |
What is the standard deviation of the data?
A.) 25.82
B.) 28.52
C.) 25.28
D.) 28.25
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