Answer:
The variance is: $169,367,949
Step-by-step explanation:
Given
Tuition: $40,632, $35,554, $42,192, $33,432, $69,479, and $43,598
Required
Determine the variance
First, calculate the mean
[tex]\bar x = \frac{\sum x}{n}[/tex]
Where
[tex]n =6[/tex]
[tex]\bar x = \frac{40,632+35,554+42,192+33,432+69,479+43,598}{6}[/tex]
[tex]\bar x = \frac{264,887}{6}[/tex]
[tex]\bar x = 44147.8333333[/tex]
[tex]\bar x = 44148[/tex] --- approximated
The sample variance (s^2) is calculated using:
[tex]s^2 = \frac{\sum(x - \bar x)^2}{n-1}[/tex]
This gives:
[tex]s^2 = \frac{(40,632-44148)^2+(35,554-44148)^2+(42,192-44148)^2+(33,432-44148)^2+(69,479-44148)^2+(43,598-44148)^2}{6-1}[/tex]
[tex]s^2 = \frac{846839745}{5}[/tex]
[tex]s^2 = 169367949[/tex]
The variance is: $169,367,949
