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Computing mean, variance and standard deviation

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1) Please calculate the standard deviation, mean, and variance for the dataset below (round to the nearest 2 decimal places where applicable).
Men's 400 Meter Race
Athlete Country Time
LaShawn Merritt USA 43.75
Jeremy Wariner USA 44.74
David Neville USA 44.80
Chris Brown BAH 44.84
Leslie Djhone FRA 45.11
Martyn Rooney GBR 45.12
Renny Quow TRI 45.22
Johan Wissman SWE 45.39

Mean:
Standard Deviation:
Variance:

2) Do the standard deviation, mean, and variance calculations (same as question #3 above) in a Microsoft Excel document, using Excel formulas, and send it as a separate attachment (or embed the Excel file below).
Men's 400 Meter Race
Athlete Country Time
LaShawn Merritt USA 43.75
Jeremy Wariner USA 44.74
David Neville USA 44.80
Chris Brown BAH 44.84
Leslie Djhone FRA 45.11
Martyn Rooney GBR 45.12
Renny Quow TRI 45.22
Johan Wissman SWE 45.39

3) Describe a situation in which you could use z-scores to make better business process decisions (i.e. in the medical field, appointments, etc.)

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Solution Preview

1) Please calculate the standard deviation, mean, and variance for the dataset below (round to the nearest 2 decimal places where applicable).
Men's 400 Meter Race
Athlete Country Time
LaShawn Merritt USA 43.75
Jeremy Wariner USA 44.74
David Neville USA 44.80
Chris Brown BAH 44.84
Leslie Djhone FRA 45.11
Martyn Rooney GBR 45.12
Renny Quow TRI 45.22
Johan Wissman SWE 45.39

ANSWER
Mean: ...

Solution Summary

The solution gives detailed steps on computing the mean, variance and standard deviation using both hand and excel.

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