SOLUTION: All 5 members of a family work. Their hourly wages (in dollars) are 19, 24, 16, 29, 7 Assuming that these wages constitute an entire population, find the standard deviation of the

Algebra ->  Probability-and-statistics -> SOLUTION: All 5 members of a family work. Their hourly wages (in dollars) are 19, 24, 16, 29, 7 Assuming that these wages constitute an entire population, find the standard deviation of the      Log On


   

Question 1036388: All 5 members of a family work. Their hourly wages (in dollars) are 19, 24, 16, 29, 7
Assuming that these wages constitute an entire population, find the standard deviation of the population.
Answer by Cromlix(4381) About Me  (Show Source):
You can put this solution on YOUR website!
Hi there,
Wages......(x-mean).......(x - mean)^2
19.................0................0
24.................5................25
16................-3................9
29................10................100
7................-12................144
Total............Total.............Total
95/5..............0................278
Mean = 19
Standard Deviation = √(Total(x - mean)^2)/n -1
Standard Deviation = √(278)/4
Standard Deviation = 69.5
Hope this helps :-)