Question

An insurance company has provided you with a sample of paid claims. The sample includes the following claims: 192, 113, 200, 287, and 225. What are the mean and the variance respectively of this sample rounded to nearest whole number?
Review Later
203, 63
203, 3942
210, 63
210, 3942

Answer 1

The required value of mean and variance is 203 and 3942 respectively.
Hence option B is correct.

The sample includes the following claims: 192, 113, 200, 287, and 225.

What is Statistic?

The statistic is the study of mathematics which deal with relations between comprehensive data.

Mean(x) = 192+113+200+287+225/5
x = 203

variance =$\frac{\sum(x-x_i)^2}{n^2-1}$

=summation of squared value/n^2−1

=15769/25−1

=15769/24

=3942

Thus, the required value of mean and variance is 203 and 3942 respectively.

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