Question

Unit sales for new product ABC has varied in the first seven months of this year as follows: Month Jan Feb Mar Apr May Jun Jul Unit Sales 330 274 492 371 160 283 164 What is the (population) standard deviation of the data

Answer 1

Approximately standard deviation= 108

Explanation:

Let's calculate the mean of the data first.

Mean =( 330+ 274+ 492 +371 +160+ 283+ 164)/7

Mean= 2074/7

Mean= 296.3

Calculating the variance.

Variance = ((330-296.3)²+( 274-296.3)²+ (492-296.3)²+( 371-296.3)²+ (160-296.3)² (283-296.3)²+(164-296.3)²)/7

Variance= (1135.69+497.29+38298.49+5580.09+18577.69+176.89+17503.29)/7

Variance= 81769.43/7

Variance= 11681.347

Standard deviation= √variance

Standard deviation= √11681.347

Standard deviation= 108.080

Approximately 108