janine is analyzing spending habits of students in her high school. she finds a mean monthly discretionary…
janine is analyzing spending habits of students in her high school. she finds a mean monthly discretionary expense of $70 spent on having meals out with friends. the standard deviation of a distribution is 5. what is the variance?
Answer
Explanation:
Step1: Recall variance - standard deviation relation
The variance ($\sigma^{2}$) is the square of the standard deviation ($\sigma$).
Step2: Calculate the variance
Given $\sigma = 5$, then $\sigma^{2}=5^{2}=25$.
Answer:
25