According to the 2016 Consumer Expenditure Survey, Americans spend an average of $1124 on cellular phone service

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According to the 2016 Consumer Expenditure Survey, Americans spend an average of $1124 on cellular phone service annually (U.S. Bureau of Labor Statistics website). Suppose that we wish to determine if there are differences in cellular phone expenditures by age group. Therefore, samples of 10 consumers were selected for three age groups (18?34, 35?44, 45 and older). The annual expenditure for each person in the sample is provided in the table below.?

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a. Compute the mean, variance, and standard deviation for the each of these three samples.?

b. What observations can be made based on these data?

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Related Book For  answer-question

Statistics For Business & Economics

ISBN: 9781337901062

14th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

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