3. The prize for winning a contest can be chosen from category A or category B. Prizes...
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3. The prize for winning a contest can be chosen from category A or category B. Prizes from category A have a mean of $1000 and a standard deviation of $50. Prizes from category B have a mean of $1000 and a standard deviation of $300.
a) Which category has LESS variation in the prize amounts, A or B?
b) What is an advantage to chosing a prize in category A? c) What is an advantage to chosing a prize in category B?
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