Question

Listed below are amounts​ (in millions of​ dollars) collected from parking meters by a security service company and other companies during similar time periods. Do the limited data listed here show evidence of stealing by the security service​ company's employees? Security Service Company:Security Service Company: 1.41.4 1.81.8 1.61.6 1.71.7 1.51.5 1.51.5 1.71.7 1.61.6 1.51.5 1.61.6 Other Companies:Other Companies: 1.81.8 1.91.9 1.61.6 1.71.7 1.61.6 1.81.8 1.71.7 1.51.5 1.81.8 1.71.7 Find the coefficient of variation for each of the two​ samples, then compare the variation.

Answer 1

Given: Security Service Company:
1.4 1.8 1.6 1.7 1.5 1.5 1.7 1.6 1.5 1.6
Mean: 1.59
Standard Deviation: 0.014333

Other companies: 1.8 1.9 1.6 1.7 1.6 1.8 1.7 1.5 1.8 1.7
Mean: 1.71
Standard deviation: 0.014333

The coefficient of variation for security Service Company:

CV = (Standard Deviation/Mean) * 100.

= (0.14333/1.59) * 100

= 9.01%

The coefficient of variation for other companies:

CV = (Standard Deviation/Mean) * 100.

= (0.014333 / 1.71) * 100

= 8.38%

the limited data listed here show evidence of stealing by the security service company's employees because there is a significant difference in the variation.