Questions: Find the population standard deviation for 2019. Round the answer to at least two decimal places. In 2019, the population standard deviation, in thousands of dollars, was .

Solution Steps

To find the population standard deviation for 2019, we need to calculate the square root of the average of the squared deviations from the mean. This involves the following steps:

1. Calculate the mean of the data set.
2. Subtract the mean from each data point and square the result.
3. Find the average of these squared differences.
4. Take the square root of this average to get the population standard deviation.

To solve the problem of finding the population standard deviation for 2019, we need to follow these steps:

The problem asks us to find the population standard deviation for a given dataset from 2019. However, the dataset is not provided in the question. For the sake of this example, let's assume we have a dataset of values representing thousands of dollars: \( x_1, x_2, \ldots, x_n \).

The population mean (\(\mu\)) is calculated as follows: \[ \mu = \frac{1}{n} \sum_{i=1}^{n} x_i \] where \( n \) is the number of data points.

The population variance (\(\sigma^2\)) is calculated using the formula: \[ \sigma^2 = \frac{1}{n} \sum_{i=1}^{n} (x_i - \mu)^2 \]

The population standard deviation (\(\sigma\)) is the square root of the variance: \[ \sigma = \sqrt{\sigma^2} \]

Round the standard deviation to at least two decimal places.

Final Answer