Question

The distribution of the amount of a customer’s purchase at a convenience store is approximately normal, with mean $15.50 and standard deviation $1.72. Which of the following is closest to the proportion of customer purchase amounts between $14.00 and $16.00 ?

Answer 1

0.42 is the closest to the proportion of customer purchases amounts between $ 14.00 and $ 16.00

Further Explanation

Standard deviations are statistical values ​​that are used to determine how the data is distributed in a sample, as well as how close the individual data points are to the mean or average sample value.

A standard deviation of a data set equal to zero indicates that all values ​​in the set are the same. Whereas the greater deviation value indicates that individual data points are far from the average value.

Usually, the standard deviation is used by statisticians or people working in the world to find out if the data samples taken represent the entire population.

Because finding the right data for a population is very difficult to do. Therefore it is necessary to use a sample of data that can represent the entire population making it easier to conduct research or a task.

As an illustration, if someone wants to know the weight of a boy aged 10-12 years in a school, then what needs to be done is to find out the weight of some people and calculate the average and standard deviation. These calculations will know the value that can represent the entire population.

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Standard deviations

individual data

Details

Grade: High School

Subject: Business

Keyword: deviations, individual, data