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Assume the following data represent the cost of a gallon of gasoline ($) at all the...

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Basic Math

Assume the following data represent the cost of a gallon ofgasoline ($) at all the various gas stations around town on a givenday. Take a random sample of size 5 from this population.

2.59 3.01 3.15 2.83 2.79 2.59 2.96 3.05 3.19 3.03 2.65 2.74 2.832.69 3.05 3.10 2.89 2.84 2.63 3.11 2.76 2.89 2.90 3.09 3.05 2.712.84 2.90 2.75 2.90 2.56 2.89 2.76 2.87 2.92 3.05 3.09 2.57 3.202.76

a) Describe the individual, variable, population and sample.

b) A description of the process you went through to actuallycollect the random sample.

c) The work showing the calculation of the mean and standarddeviation by hand. (You may use a basic calculator for thearithmetic.)

d) A sentence explaining the meaning of the standard deviationin terms of the gasoline prices.

Answer & Explanation Solved by verified expert
3.8 Ratings (701 Votes)
aIndividual Individual means one single quantity which representthe cost of a gallon of gasolineVariable A variable is any characteristics number or quantitythat can be measured or counted and    See Answer
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