Question

The mean cost for a pint of frozen yogurt is $1.50, with a standard deviation of $0.10.

What is the value of the variance?
a.) $0.40
b.) $0.10
c.) $0.01
d.) $0.20

Answer 1

c.) $0.01

Explanation:

Got it right.

Answer 2

The correct answer is:

0.01$ (c)

Explanation:

Standard deviation is a measure of how spread out numbers are from the mean value. The formula for standard deviation is given by:

`s = \sqrt{(\sum(x - \bar x))/(n) } \\where:\\x = sample\ \\\bar x\ = mean\\n\ = number\ of\ samples\`

Variance is a measure of the squared differences from the mean.

Variance is simply the square of the standard deviation. It is mathematically shown as:

`s^2 = (\sum(x - \bar x))/(n) }`

Now in our example,

Stabnard deviation = $0.10

Variance = (standard deviation)²

Variance = (0.10)²

Variance = $0.01