Answer:
Range = 205 dollars
Variance = 3255.9 square dollars
Standard deviation = 57.06 dollars
Explanation:
Range = highest price - lowest price = 280 - 75 = 205 dollars
Mean = summation of prices ÷ number of hotels = (186+213+75+188+158+280+197) ÷ 7 = 1297 ÷ 7 = 185.3 dollars
Variance = (summation of square of the difference between each price and mean) ÷ number of hotels = [(186-185.3)^2 + (213-185.3)^2 + (75-185.3)^2 + (188-185.3)^2 + (158-185.3)^2 + (280-185.3)^2 + (197-185.3)^2] ÷ 7 = 22791.43 ÷ 7 = 3255.9 square dollars
Standard deviation = sqrt(variance) = sqrt(3255.9 square dollars) = 57.06 dollars
