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 (CV) is calculated as the ratio of the standard deviation to the mean, expressed in percentage.

CV = (standard deviation / mean) x 100%

To find the answer, we need to calculate the standard deviation and the mean of the hourly wages data. We can do this using a spreadsheet software or a calculator.

Using a calculator, we get:

Mean = sum of values / number of values = 60,200 / 130 = 463.08
Standard deviation = sqrt [sum of (values - mean)^2 / (number of values - 1)] = 77.94

Therefore, the coefficient of variation is:

CV = (77.94 / 463.08) x 100% ≈ 16.8%

The closest answer choice to this value is B, 30%, so the answer is B.

​The Hourly Wages of a Sample of 130 System Analysts

The Hourly Wages of a Sample of 130 System Analysts