Variance on Shelter Sample Data
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You want to make a statement about the variability in the costs of personnel shelters. After collecting sample data (cost in $K) on 9 shelters you perform some preliminary calculations.
Given the information provided:
The coefficient of variation is about 17.64%
The variance is about $61.72K
The standard deviation is about $79.36K
The coefficient of variation is about 18.86%
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Solution Summary
This solution logically arrives at the right option by performing necessary calculations. Attached in Word.
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Recent Feedback
- "Thankyou for the feedback. I have a few question though; With the first statistic about cost below... “According to Sigma-Aldrich catalog, cost of 1L octane is AUD $ 392.00, whereas the cost of 1L ethanol is AUD $196.00. Moreover, if ethanol is obtained from sugar industry as a by-product, it may cost even less. Source of oxygen is ambient atmosphere, so it costs nothing. So ethanol is much cheaper than petrol, in fact it is half-priced: AUD $ (392-196) = $ 196.” I didn't think it made sense because the cost of petrol per litre is normally a dollar something or even less than a dollar not a couple of hundred of dollars. For example, a statistic that I found in america was: "U.S. ethanol production costs are about $1.20 per gallon of ethanol, or $1.82 per gallon on a gasoline-equivalent basis." However, I was wondering whether you could find an Australian statistic. Also, you mentioned that H20 is not a greenhouse gas. However, in the combustion equations it is actually carbon dioxide and water vapour which are produced and they are both greenhouse gases. Finally, how do I calculate the energy efficiency of ethanol and petrol? "
- "Thank you!"
- "Didnt really answer my questions but gave me a start at least."
- "Once again this is tremendous help I can't thank you enough for not only working the problem but explaining in detail how and why!! KR"
- "Awesome thank you so much for the help!!!"
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