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Using Excel, find the mean, median, standard deviation, and variance of her past real income. Explain the meaning of these statistics. Can you use the
Using Excel, find the mean, median, standard deviation, and variance of her pastreal income. Explain the meaning of these statistics. Can you use the mean income to forecast future earnings? Take into account both statistical and non-statistical considerations.
| Total | 466,562 |
| Mean | 31,104 |
| Median | 30,993 |
| Standard Deviation | 477.44 |
| Sample Variance | 227,951.01 |
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Finite Mathematics
Authors: Stefan Waner, Jerry Lee Ford Jr, Waner/Costenoble, Steven Costenoble
5th Edition
