Question: Problem 7)

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

a) Compute the range, sample mean, sample standard deviation and coefficient of variation for 50-inch TV sets.

b) Compute the range, sample mean, sample standard deviation and coefficient of variation for 25-inch TV sets.

c) Compare the answers for parts (a) and (b) and comment on the differences in the two sets of data.