The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. A random sample of the price of 10 computers was taken with the following results (mean = $3,213):
$3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000

-What is the variance?
A)1359
B)4993
C)1846575
D)3587
E)1976454

Question

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. A random sample of the price of 10 computers was taken with the following results (mean = $3,213):
$3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000

-What is the variance?
A)1359
B)4993
C)1846575
D)3587
E)1976454

Quizplus · Accepted Answer

The variance measures the spread or dispersion of a set of data. Calculating the variance involves subtracting the mean from each data point, squaring those differences, and then averaging them. The formula for variance is: variance = sum of squared differences / total number of data points. Without further context or information, it is impossible to determine which of the given numbers represents the variance.

The Company Financial Officer Was Interested in the Average Cost