The table shows gasoline prices ($/gallon) and natural gas prices ($/1000 cu ft, residential) for the years

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The table shows gasoline prices ($/gallon) and natural gas prices ($/1000 cu ft, residential) for the years 1993-2010

a. Compute the coefficient of variation for each data set. (Gasoline σ = .52; natural gas σ = 2.81)

b. As measured by the coefficient of variation, which data set shows the greater variability?

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Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

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Question Posted: Jul 16, 2015 03:54 PM

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The table shows gasoline prices ($/gallon) and natural gas prices ($/1000 cu ft, residential) for the years

Question:

Year Gasoline Nat Gas Year Gasoline Nat Gas 1993 1.426 2002 47 7.89 1994 139 6.41 2003 1.69 9.63 1995 41 1996 1.48 634200 .30 12.70 1997 1.466.420613.73 1998 1.24 6.822007 64 13.08 1999 .34 20001.707.72009 214.14 2001 6.06 2004 .94 10.75 6.69 2008 3.0 13.89 1.61 9.63 2010 2.5211.39

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Understanding Business Statistics

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