Question: In this problem you are asked to select an appropriate value for the standard deviation, based on your knowledge of how these variables vary. a.

In this problem you are asked to select an appropriate value for the standard deviation, based on your knowledge of how these variables vary.

a. From a sample of 30 petrol stations, the mean price of E10 petrol is $1.56 per litre. Which of the following is a reasonable value for the corresponding standard deviation of prices: $0.03, $3.00 or $30.00?

b. The mean starting salary of a sample of 50 recent graduates is $65,200. Which of the following is a reasonable value for the standard deviation of starting salaries: $5, $50 or $5,000?

c. The mean weight of a sample of 100 male university students is 70 kg. Which of the following is a reasonable value for the standard deviation of weights: 0.5 kg, 10 kg or 50 kg?

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