Math / Data & Statistics

QuestionThe stock prices for eight major grocery store chains last January were: \begin{tabular}{llllllll} $\$ 18.28$ & $\$ 20.32$ & $\$ 9.36$ & $\$ 11.55$ & $\$ 11.23$ & $\$ 48.06$ & $\$ 48.84$ & $\$ 28.23$ \end{tabular} Send data to Excel
Find the range, variance, and standard deviation. Round the variance to one decimal place and the standard deviation to two decimal places, if necessary.
Part: $0 / 3$
Part 1 of 3
The range is $\$$ $\square$ .

Studdy Solution

STEP 1

1. The set contains eight stock prices: $18.28, 20.32, 9.36, 11.55, 11.23, 48.06, 48.84, 28.23$ .
2. The range is the difference between the maximum and minimum values in the data set.

STEP 2

1. Identify the minimum and maximum values.
2. Calculate the range.

STEP 3

List the stock prices:
$18.28, 20.32, 9.36, 11.55, 11.23, 48.06, 48.84, 28.23$

STEP 4

Identify the minimum value:
$\text{Minimum} = 9.36$
Identify the maximum value:
$\text{Maximum} = 48.84$

STEP 5

Calculate the range:
$\text{Range} = \text{Maximum} - \text{Minimum} = 48.84 - 9.36 = 39.48$
The range is:
$\boxed{39.48}$

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