Question

A neighborhood ice cream vendor reports the following sales of single scoop ice cream cones for five randomly selected weeks: 5, 4, 6, 5, and 3. Find the variance for the weekly sales of single scoop ice cream cones.

a) 1.14
b) 1.21
c) 1.26
d) 1.3

Answer 1

To find the variance for the weekly sales of single scoop ice cream cones, first calculate the mean and then calculate the squared differences from the mean. Finally, calculate the average of the squared differences to find the variance.

Step-by-step explanation:

To find the variance for the weekly sales of single scoop ice cream cones, you need to first calculate the mean of the data set. The mean can be found by adding up all the numbers and dividing by the total number of weeks. So, in this case, the mean is (5 + 4 + 6 + 5 + 3) / 5 = 4.6.

Next, subtract the mean from each data point and square the result. For example, (5 - 4.6)^2 = 0.16. Repeat this for all the data points.

Then, calculate the mean of the squared differences. In this case, it is (0.16 + 0.16 + 1.96 + 0.16 + 2.56) / 5 = 1.12.

Finally, the variance is the average of the squared differences, which is 1.12.