163k views
3 votes
The percentage rates of home ownership for 8 randomly selected states are listed below. Estimate the population variance and standard deviation for the percentage rate of homeownership with 90% confidence. Round the sample variance and the final answers to two decimal places.

The percentage rates of home ownership for 8 randomly selected states are listed below-example-1
User Delforge
by
8.3k points

1 Answer

3 votes

The population variance qand standard deviation of the given data set would be = 78.88 and 8.9 respectively.

How to calculate the population mean and standard deviation?

To calculate the population mean and standard deviation, the following steps should be used as listed;

The formula for population variance;

=S(xi-u)²/n

where

u = mean = S(xi)/n

= 60.1+67.6+71.8+47.2+76.8+70.3+70.2+58.4/8

= 522.4/8

= 65.3

Variance;

(xi-u)² = (60.1-65.3)²+(67.6-65.3)²+(71.8-65.3)²+(47.2-65.3)²+

(76.8-65.3)²(70.3-65.3)²+(70.2-65.3)²+(58.4-65.3)

= 27.04+5.29+42.25+327.61+132.25+25+24.01+47.61

= 631.06

Variance = S(xi-u)²/n

= 631.06/8

= 78.88

Standard deviation= √variance

= √78.88 = 8.9

User Trevor Nestman
by
8.1k points