In Exercises 21–24, find the coefficient of variation for each of the two samples; then compare the variation. (The same data were used in Section 32.)
Parking Meter Theft Listed below are amounts (in millions of dollars) collected from parking meters by Brinks and others in New York City during similar time periods. A larger data set was used to convict five Brinks employees of grand larceny. The data were provided by the attorney for New York City, and they are listed on the DASL web site. Do the limited data listed here show evidence of stealing by Brinks employees?
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For Collection Contractor was Brinks:
We know that the mean of a given set of observations obtained by adding those observations and divide that result with number of given observations. The mean amount collected from parking meters by Brinks in New York City is
Therefore, the mean amount collected from parking meters by Brinks in New York City is $1.55 million.