Each year advertisers spend billions of dollars purchasing commercial time on network sports television. In thefirst 6 months of 1988, advertisers spent $1.1 billion. Who were the largest spenders? In a recent article, listedthe top 10 leading spenders (in million of dollars): $$\begin{array} { l r l r }
\text { Company A } & \$ 70.7 & \text { Company F } & \$ 27.3 \
\text { Company B } & 60.7 & \text { Company G } & 26.1 \
\text { Company C } & 55.4 & \text { Company H } & 22.8 \
\text { Company D } & 54.8 & \text { Company I } & 23 \
\text { Company E } & 28.7 & \text { Company J } & 19.4
\end{array}$$ Calculate the sample variance.
A) 367.36
B) 19.17
C) 38.89
D) 51.30

Question

Each year advertisers spend billions of dollars purchasing commercial time on network sports television. In thefirst 6 months of 1988, advertisers spent $1.1 billion. Who were the largest spenders? In a recent article, listedthe top 10 leading spenders (in million of dollars): $$\begin{array} { l r l r } 
\text { Company A } & \$ 70.7 & \text { Company F } & \$ 27.3 \
\text { Company B } & 60.7 & \text { Company G } & 26.1 \
\text { Company C } & 55.4 & \text { Company H } & 22.8 \
\text { Company D } & 54.8 & \text { Company I } & 23 \
\text { Company E } & 28.7 & \text { Company J } & 19.4
\end{array}$$ Calculate the sample variance.
A) 367.36
B) 19.17
C) 38.89
D) 51.30

Quizplus · Accepted Answer

The sample variance is calculated by taking the sum of the squared differences between each value and the mean, then dividing by the number of observations minus one. Given the data, the mean expenditure is $38.89 million. The squared differences from the mean are then summed and divided by the number of observations minus one (10-1=9), resulting in a sample variance of 367.36.

Each Year Advertisers Spend Billions of Dollars Purchasing Commercial Time