Solution: Retail prices of five brand name 50-inch television sets and five brand name 25-inch television sets were advertised as follows: 50-inch sets:

Question:

Retail prices of five brand name 50-inch television sets and five brand name 25-inch television sets were advertised as follows:

50-inch sets: 1,700 1,900 2,500 3,200 1,500

25-inch sets: 444 425 499 599 375

Compute the range, sample mean, sample standard deviation and coefficient of variation for 50-inch TV sets.
Compute the range, sample mean, sample standard deviation and coefficient of variation for 25-inch TV sets.
Compare the answers for parts (a) and (b) and comment on the differences in the two sets of data.

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Solution: Retail prices of five brand name 50-inch television sets and five brand name 25-inch television sets were advertised as follows: 50-inch sets:

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