Question

The average age of instructors at a local college is 55, with a standard deviation of 6 years; the average salary is $37,000 with a standard deviation of $4100. which is more variable?

Answer 1

To solve for the coefficient of variation you will need this formula:
CV = (SD/X) x 100
Where: CV = Coefficient of Variance
X = Mean/average
SD = Standard Deviation

To determine which one is more variable, just get the coefficient of both and compare.
AGE SALARY

CV = (6/55) x 100 CV = (4,100/37,000) x 100
= 10.90 = 11.08

Based on the results, salary is more variable because 10.90<11.08.