Question

A sample was taken of the salaries of four employees from a large company. the following are their salaries, in thousands of dollars, for this year. 33 31 24 36 the variance of their salaries is:____.

Answer 1

For given sample of salaries of four employees, the variance of their salaries is: 26 thousands of dollars

The formula for the variance is,

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

where,

$S^2$ = sample variance

$x_i$ = the value of the one observation

$\bar{x}$ = the mean value of all observations

n = the number of observations

For given question,

n = 4

First we find the mean of their salaries.

(33 + 31 + 24 + 36 ) / 4 = 31

So, $\bar{x}=31$

Using the formula for variance ,

$S^2=\frac{(33-31)^2}{4-1}+\frac{(31-31)^2}{4-1}+\frac{(24-31)^2}{4-1}+\frac{(36-31)^2}{4-1}\\\\ S^2=\frac{4}{3} + \frac{0}{3} + \frac{49}{3} + \frac{25}{3} \\\\S^2= \frac{4+49+25}{3}\\\\S^2=\frac{78}{3} \\\\S^2=26$

Therefore, for given sample of salaries of four employees, the variance of their salaries is: 26 thousands of dollars

Learn more about the variance here:

brainly.com/question/13673183

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