During the 1990s, businesses were expected to show a lot of interest in Central and Eastern European countries.

As new markets began to open, American businesspeople needed a better understanding of the market potential there. The following are the per capita GDP figures for eight of these European countries published by the World Almanac. Note: The per capita GDP for the U.S. is $44,000.

Country Per Capita GDP (U.S. $)

Albania .......... 5,700

Bulgaria ..........10,700

Croatia ...........13,400

Czech Republic .......21,900

Hungary ..........17,600

Poland ..........14,300

Romania .......... 9,100

Bosnia/Herzegovina ....... 5,600

a. Compute the mean and standard deviation for Albania, Bulgaria, Croatia, and Czech Republic.

b. Compute the mean and standard deviation for Hungary, Poland, Romania, and Bosnia/Herzegovina.

c. Use a coefficient of variation to compare the two standard deviations. Treat the data as population data.