Question

Find the variance for the given data. Round your answer to one more decimal place than the original data. The billing rates for six dental procedures are listed below: $663 $273 $410 $622 $174 $374

Answer 1

Answer:

The variance is 30698.6

Step-by-step explanation:

The billing rates for six dental procedures are listed below:

$663

$273

$410

$622

$174

$374

The mean is given by:

$\bar X=\frac{663+273+410+622+174+374}{6}=\frac{2516}{6}=419.333$

The variance is given by:

$\sigma^2=\frac{\sum(x-\bar x)^2}{n}$

$\sigma^2=\frac{(663-419.333)^2+(273-419.333)^2+(410-419.333)^2+(622-419.333)^2+(174-419.333)^2+(374-419.333)^2}{6}$

$\sigma^2=30698.56$

Therefore the variance is 30698.6