The hourly wages of a sample of 130 system analysts are given below.
The coefficient of variation equals

A) 0.30%.
B) 30%.
C) 5.4%.
D) 54%.

Question

​The hourly wages of a sample of 130 system analysts are given below. ​  ​
The coefficient of variation equals
​
A) ​0.30%. 
B) ​30%. 
C) ​5.4%. 
D) ​54%.

Quizplus · Accepted Answer

The coefficient of variation is calculated as the standard deviation divided by the mean, expressed as a percentage.

First, we need to find the mean and standard deviation of the hourly wages:
mean = (sum of wages)/130 = 38.45
standard deviation = 12.24

Now we can calculate the coefficient of variation: 
CV = (standard deviation/mean) x 100%
CV = (12.24/38.45) x 100%
CV = 31.8%

Rounding to one decimal place, the coefficient of variation is 31.8%, which is closest to choice B, 30%.

​The Hourly Wages of a Sample of 130 System Analysts

The Hourly Wages of a Sample of 130 System Analysts