1.Consider these five values of a population: 7, 4, 8, 4, and 3.

a.Determine the mean of the population.

Arithmetic mean

b.Determine the variance of the population.

Variance

2.The annual incomes of the five vice-presidents of TMV Industries are: $148,000; $128,000; $92,000; $108,000; and $131,000. Consider this a population.

a.What is the range?

Range $

b.What is the arithmetic mean income?

Arithmetic mean income $

c.What is the population variance andthe standard deviation?(Round standard deviation to 1 decimal place.)

Population variance $

Standard deviation $

d.The annual incomes of officers of another firm similar to TMV Industries were also studied. The mean was $92,400 and the standard deviation was $19,451. Compare the means and dispersions in the two firms.