Exercise 6 (5 points) What Happens in Vegas . . . Listed below are prices in dol
ID: 3172622 • Letter: E
Question
Exercise 6 (5 points) What Happens in Vegas . . . Listed below are prices in dollars for one night at different hotels located on Las Vegas Boulevard (the "Strip"). Find the range, variance, and standard deviation for the given sample. How useful are the measures of variation for someone searching for a room? Dollars 212 77 121 104 153 264 195 244 Exercise 6 (5 points) What Happens in Vegas . . . Listed below are prices in dollars for one night at different hotels located on Las Vegas Boulevard (the "Strip"). Find the range, variance, and standard deviation for the given sample. How useful are the measures of variation for someone searching for a room? Dollars 212 77 121 104 153 264 195 244Explanation / Answer
Given, rates of different hotels in Las vegas
212
77
121
104
153
264
195
244
To find,
Range=Highest-lowest values
Range=264-77
Range=187
Variance=4047.94
Standard Deviation=63.62
Variance and Standard Deviation can be calculated using functions stdev and var in excel
using measures of dispersion, we can find the range of prices across the hotels, deviation in prices before selecting the hotel
212
77
121
104
153
264
195
244