The file Energy contains the average residential price for electricity in cents per kilowatt hour in each
Question:
The file Energy contains the average residential price for electricity in cents per kilowatt hour in each of the 50 states and the District of Columbia during a recent year.
a. Compute the mean, variance, and standard deviation for the population.
b. What proportion of these states has an average residential price for electricity within ±1 standard deviation of the mean, within ±2 standard deviations of the mean, and within ±3 standard deviations of the mean?
c. Compare your findings with what would be expected based on the empirical rule. Are you surprised at the results in (b)?
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Related Book For
Basic Business Statistics Concepts And Applications
ISBN: 9780134684840
14th Edition
Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan
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