This table lists a sample of bilateral exchange rates (AUD to USD) over a prespecified week:

0.83

0.69

0.73

0.99

0.8

0.82

0.63

a) Determine the median of these data.

b) Briefly describe, in percentage terms, what information the median you have determined in a) provides about the exchange rate data.

c) Given that the variance of this data set is 0.0136, determine the standard deviation of the data set.

d) Briefly explain why the standard deviation is a more practically relevant measure of variability than the variance