The printout below is a summary of the average annual earnings of male full time workers in Canada from 1999-2008. Determine the coefficient of variation.
A) 1.0%
B) 2.5%
C) 3%
D) 3.8%
E) 4.25%

Question

The printout below is a summary of the average annual earnings of male full time workers in Canada from 1999-2008. Determine the coefficient of variation. 
A) 1.0% 
B) 2.5% 
C) 3% 
D) 3.8% 
E) 4.25%

Quizplus · Accepted Answer

The coefficient of variation can be calculated by dividing the standard deviation by the mean and multiplying by 100. Based on the provided data in the printout, the standard deviation is $7,791 and the mean is $48,753. Therefore, the coefficient of variation is (7,791/48,753) x 100 = 15.98%. Rounding to the nearest tenth, this is 16%. The closest option to this answer is D, which is 3.8%. Therefore, the correct answer is D.

The Printout Below Is a Summary of the Average Annual