Listed below are prices in dollars for one night at different hotels in a certain region. Find the range, variance, and standard deviation for the given sample data. Include appropriate units in the results. How useful are the measures of variation for someone searching for a room? X24914419280148260256105

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Asked Dec 2, 2019
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Listed below are prices in dollars for one night at different hotels in a certain region. Find the range, variance, and standard deviation for the given sample data. Include appropriate units in the results. How useful are the measures of variation for someone searching for a room? 

X

249
144
192
80
148
260
256
105
 
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Expert Answer

Step 1

Step-by-step procedure to obtain the range, variance, and standard deviation using Excel:

  • In Excel sheet, enter X in one column.
  • In Data, select Data Analysis and choose Descriptive Statistics.
  • In Input Range, select S.
  • select Summary Statistics.
  • Click Labels.
  • Click Ok.
Step 2

Output obtained using Exc...

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X Мean 179.25 Standard Error 25.00767739 Median 170 #N/A Mode Standard Deviation 70.73239306 Sample Variance 5003.071429 Kurtosis -1.738123994 Skewness -0.076046528 Range 180 Minimum 80 Мaximum 260 Sum 1434 Count

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