Question

Find the standard deviation for the given data. Round your answer to one more decimal place than the original data. To get the best deal on a CD​ player, Tom called eight appliance stores and asked the cost of a specific model. The prices he was quoted are listed​ below: ​$124 ​$256 ​$118 ​$441 ​$122 ​$335 ​$340 ​$191

Answer 1

$122.1

Explanation:

We are given the following data in the question

$124, ​$256 ​, $118, ​$441, ​$122, ​$335, ​$340, ​$191

Step 1

Find the mean

Mean = Sum of Terms / Number of Terms

Number of Terms = 8

Mean = ($124 + $256 ​+ $118 + ​$441 + $122 + ​$335 + ​$340 + ​$191 )/ 8

Mean = $1927/8

= $240.875

Approximately to 1 decimal place

$240.9

Step 2

Standard deviation formula

S = √( x - μ)²/ N - 1),

N = Number of terms

μ = Mean

S = √[($124 - $240.9)² + ($256 - $240.9)² + ($118 - $240.9)² + (​$441 - $240.9)² + ($122 - $240.9)² + ​($335 - $240.9)² + ​($340 - $240.9)²+ ​($191 -$240.9)²/ 8 - 1]

S = $122.0895

Approximately to 1 decimal place

S = $122.1

Therefore, the standard deviation for the given data is $122.1