The mean of the number of sales of cars over a 3-month period is $87, and the standard deviation is 5. The mean of the commissions is $5225, and the standard deviation is 773.
A. Calculate the coefficient of variation.
B. Compare the variation of the two and give your comments regarding the variation.
The mean of the number of sales of cars over a 3-month period is $87, and the standard deviation is 5. The mean of the commissions is $5225, and the standard deviation is 773.
A. Calculate the coefficient of variation.
B. Compare the variation of the two and give your comments regarding the variation.
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| Listed below are the commissions earned ($000) last year by the sales representatives at the Furniture Patch, Inc. |
| 4.3 | 6.2 | 7.7 | 11.5 | 12.7 | 13.6 | 15.4 | 15.8 | 17.1 |
| 17.4 | 17.8 | 22.3 | 36.7 | 43.2 | 82.5 |
| (a) | Determine the mean, median, and the standard deviation. (Round your answers to 2 decimal places.) |
| Mean | |
| Median | |
| Standard deviation | |
| (b) | Determine the coefficient of skewness using Pearson's method. (Round your answer to 3 decimal places.) |
| Coefficient of skewness |
| (c) | Determine the coefficient of skewness using the software method. (Round your answer to 2 decimal places.) |
| Coefficient of skewness |
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