3 find the coefficient of variation for the office rental...

3. Find the coefficient of variation for the office rental rates in Los Angeles and for those in the Dallas/Fort Worth area. Then compare the results Los Angeles office rental rates - 69 24 20 24 24 30 25 60 29 18 25 22 28 29 38 25 46 43 19 35 32 20 27 31 Dallas office rental rates- 22 21 18 24 15 25 35 27 22 20 31 24 18 16 16 17 24 23

Transcript

00:01 So in this question, we are given the annual salaries in thousands of dollars for two sample populations, so for dallas and for new york city.

00:12 And we are basically asked to compute the coefficient of variation.

00:18 So basically we ask to compute the coefficient of variation for each of these cities and compared.

00:27 The coefficient of variation is basically the standard deviation over the mean.

00:32 Now the standard deviation is the sample standard deviation so we take x minus the mean of x squared sum of squares over n minus one square root and x is our sample mean which is the sum of all values of x over the number of values so for our dallas population, the mean for dallas is basically 44 .28.

01:13 And the standard deviation using this formula over here is 4 .036.

01:24 Now, the mean for new york city using this formula over here is 50 .92.

01:37 And the standard deviation for new york city, actually since this is the sample standard deviation, we will put the notation slightly differently.

01:49 So even though it is this by sample standard deviation will basically take s over.

02:01 And so for new york city our standard deviation is 6 .69.

02:10 So the coefficient of variation for dallas is basically 44 .28 over, actually the standard deviation over the mean.

02:28 So let's get that right.

02:30 So the standard deviation over the mean multiplied by 100%...

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