Answer:
16.6% ; 3.2%
Step-by-step explanation:
Given the data :
Data A:
$36,700, $30,300, $22,800, $27,700, $37,700, $39,800, $27,000, $30,100, $33,900, $24,900, $27,500, $37,600, $32,700, $34,200
Data B: 21,253, 21,065, 20,747, 21,905, 20,546, 21,580, 22,292, 20,072, 20,518, 20,426, 20,839
The Coefficient of variation (CV) = (Sample standard deviation / Sample mean)
Sample mean (m) ;
Σx / n
n = sample size
Sample standard deviation (S) :
√[(x - m)² / (n-1)]
To save computation time ;
The sample mean and sample standard deviation can be obtained using a calculator :
For Data A:
Sample mean (m) = 31635.7143
Sample Standard deviation (s) = 5256.14763
Hence, Coefficient of variation :
5256.14763 / 31635.7143
= 0.166
= 0.166 * 100% = 16.6%
For Data B:
Sample mean (m) = 21022.0909
Sample Standard deviation (s) = 678.718271
678.718271 / 21022.0909
= 0.032
= 0.032 * 100% = 3.2%
