A store pays a wholesale price of $12.00 for the hat. If they plan to make a 25% profit, what will the retail price of the hat b
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The variance of a distribution is the square of the standard deviation
The variance of the data is 2.2
<h3>How to calculate the variance</h3>Start by calculating the expected value using:
So, we have:
This gives
Next, calculate E(x^2) using:
So, we have:
The variance is then calculated as:
So, we have:
Approximate
Hence, the variance of the data is 2.2
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