Questions: Consider the following sets of sample data: B: 2.94, 2.97, 4.12, 4.81, 4.57, 4.66, 3.72, 4.47, 4.79, 2.91, 4.70 Step 1 of 2: For each of the above sets of sample data, calculate the coefficient of variation, CV. Round to one decimal place.

Consider the following sets of sample data:

B: 2.94, 2.97, 4.12, 4.81, 4.57, 4.66, 3.72, 4.47, 4.79, 2.91, 4.70

Step 1 of 2: For each of the above sets of sample data, calculate the coefficient of variation, CV. Round to one decimal place.

Transcript text: Consider the following sets of sample data: B: $2.94,2.97,4.12,4.81,4.57,4.66,3.72,4.47,4.79,2.91,4.70$ Step 1 of 2: For each of the above sets of sample data, calculate the coefficient of variation, CV. Round to one decimal place. Answer How to enter your answer (opens in new window) CV for Data Set B:

Solution

Solution Steps

Step 1: Calculate the Mean (μ)

To calculate the mean (μ), sum all the data points and divide by the number of data points. \[ \mu = \frac{\sum_{i=1}^{n} x_i}{n} = 4.060 \]

Step 2: Calculate the Standard Deviation (σ)

The standard deviation (σ) is calculated using the formula: \[ \sigma = \sqrt{\frac{\sum_{i=1}^{n} (x_i - \mu)^2}{n-1}} = 0.786 \]

Step 3: Calculate the Coefficient of Variation (CV)

The coefficient of variation (CV) is calculated as the ratio of the standard deviation to the mean, expressed as a percentage. \[ CV = \left( \frac{\sigma}{\mu} \right) \times 100\% = 19.4\% \]