Question

The weekly salaries of a sample of employees at the local bank are given in the table below. Employee Weekly Salary Anja $245 Raz $300 Natalie $325 Mic $465 Paul $100 What is the variance for the data? Variance: s squared = StartFraction (x 1 minus x Overbar) squared (x 2 minus x Overbar) squared ellipsis (x n minus x Overbar) squared Over n minus 1 EndFraction 118. 35 132. 32 14,006 17,507. 5.

Answer 1

The variance for the data is  17,507. 5.

Given

The weekly salaries of a sample of employees at the local bank are given in the table below.

Employee Weekly Salary Anja $245 Raz $300 Natalie $325 Mic $465 Paul $100.

Variance

Variance is the expected value of the squared variation of a random variable from its mean value, in probability and statistics.

The mean value of the salaries of employees is;

$\rm Mean= \dfrac{245+300+325+465+100}{5}\\\\Mean=287$

The variance is given by;

$\rm Variance=\sqrt{\dfrac{(245-287)^2 +(300-287)^2 +(325-287)^2 +(465-287)^2 +(100-287)^2}{5-2}} \\\\Variance = 132.316}\\\\On \ Squaring \ both \ the \ sides\\\\Variance^2=17,507. 5$

Hence, the variance for the data is  17,507. 5.

To know more about variance click the link given below.

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