The table shows gasoline prices ($/gallon) and natural gas prices ($/1000 cu ft, residential) for the years
Question:
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?
Transcribed Image Text:
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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Related Book For
Understanding Business Statistics
ISBN: 978-1118145258
1st edition
Authors: Stacey Jones, Tim Bergquist, Ned Freed
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