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A consumer watchdog organization is concerned about credit
Chapter 3, Problem 44E(choose chapter or problem)
Problem 44E
A consumer watchdog organization is concerned about credit card debt. A survey of 10 young adults with credit card debt of more than $2,000 showed they paid an average of just over $100 per month against their balances. Listed below is the amounts each young adult paid last month.
$110 |
$126 |
$103 |
$93 |
$99 |
$113 |
$87 |
$101 |
$109 |
$100 |
a. Compute the sample variance.
b. Determine the sample standard deviation.
Questions & Answers
QUESTION:
Problem 44E
A consumer watchdog organization is concerned about credit card debt. A survey of 10 young adults with credit card debt of more than $2,000 showed they paid an average of just over $100 per month against their balances. Listed below is the amounts each young adult paid last month.
$110 |
$126 |
$103 |
$93 |
$99 |
$113 |
$87 |
$101 |
$109 |
$100 |
a. Compute the sample variance.
b. Determine the sample standard deviation.
ANSWER:
Solution:
Step 1 of 2:
A survey of 10 young adults with credit card debt of more than $2,000 showed they paid an average of just $100 per month against their balances.
The data about the amounts of each young adult paid last month is given.
$110 |
$126 |
$103 |
$93 |
$99 |
$113 |
$87 |
$101 |
$109 |
$100 |
- We have to compute the sample variance.
- We have to determine the sample standard deviations.