**Data Analysis Exercise****Car Costs Sample:**Below is a sample list of the costs of new cars:- $30,000- $35,000- $32,000- $31,000- $25,000- $40,000- $37,000- $26,000- $36,000- $29,000- $34,000- $38,000- $28,000**Grades Sample:**Here is a sample list of grades from a test:- 96- 70- 100- 56- 26- 51- 84- 81- 32- 76- 79- 35- 85**Questions:**1. **Calculate the Mean of Car Costs:** - What is the mean of the car costs? Enter your answer here: [_________]2. **Understand Standard Deviation:** - The standard deviation tells you how spread out the scores are. - What is the sample standard deviation of car costs? Enter your answer here: [_________]This exercise is designed to help you practice calculating mean and standard deviation, which are essential concepts in statistics to understand the data distribution. The coefficient of variation tells you how spread out the scores are, relative to the average. The coefficient of variation is calculated by dividing the standard deviation by the mean.**What is the sample coefficient of variation of car costs?**[Answer Field]**What is the mean of the grades?**[Answer Field]**What is the sample standard deviation of grades?**[Answer Field]As expected, the cost of cars have a higher standard deviation, since the cost of cars is more spread out than the grades.**What is the sample coefficient of variation of grades?**[Answer Field]Therefore, while the cost of cars have a higher standard deviation, the costs of cars have a lower coefficient of variation and are less spread out relative to their average cost.

The data sets for cost of new cars and grades on test are gives, The mean can be calculated as,…

The coefficient of variation tells you how spread out the scores are, relative to the average. The coefficient of variation is calculated by dividing the standard deviation by the mean. What is the sample coefficient of variation of car costs? What is the mean of the grades? What is the sample standard deviation of grades? As expected the cost of cars have a higher standard deviation, since the cost of cars is more spread out than the grades. What is the sample coefficient of variation of grades? Therefore, while the cost of cars have a higher standard deviation, the costs of cars have a lower coefficient of variation and are less spread out relative to their average cost.

The coefficient of variation tells you how spread out the scores are, relative to the average. The coefficient of variation is calculated by dividing the standard deviation by the mean. What is the sample coefficient of variation of car costs? What is the mean of the grades? What is the sample standard deviation of grades? As expected the cost of cars have a higher standard deviation, since the cost of cars is more spread out than the grades. What is the sample coefficient of variation of grades? Therefore, while the cost of cars have a higher standard deviation, the costs of cars have a lower coefficient of variation and are less spread out relative to their average cost.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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