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Statistics: Compare the dispersion of two distributions for

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A plumbing supplier's mean monthly demand for vinyl washers is 24,212 with a standard deviation of 6,053. The mean monthly demand for steam boilers is 6.8 with a standard deviation of 1.7.

Compare the dispersion of these distributions. Which demand pattern has more relative variation? Explain.

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Solution Summary

Step-by-step solution to the problem that compares dispersion of two distributions for vinyl washers and boilers.

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Let us find the coefficient of variation for both the distributions and compare:

Coefficient of variation ...

Solution provided by:
Sandhya Sharma, MSc
Education
  • BSc, Meerut University
  • MSc, Meerut University
  • MPhil, Institute of Advanced Studies
  • MSc, AIT
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