If the estimated range of incomes for 30 medium size businesses is $60,000,a rough estimate of one standard deviation would be
A)$10,000.
B)$12,000.
C)$8,000.
D)$8,500.
E)$9,000.

Question

Quizplus · Accepted Answer

The range rule of thumb suggests that the standard deviation is approximately the range divided by 4. So, $60,000 / 4 = $15,000. However, since $15,000 is not an option, the closest estimate is $10,000.

If the Estimated Range of Incomes for 30 Medium Size