Find the variance for the following set of data. \( 20,7,15,4,22,17,7,21,13 \) 36.45 39.78 37.56 38.67
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To find the variance, you first calculate the mean of the data set, which is \( (20 + 7 + 15 + 4 + 22 + 17 + 7 + 21 + 13) / 9 \) = 12.78. Next, subtract the mean from each data point, square the result, and find the average of those squared differences. After calculating, you’ll find that the correct variance is approximately \( 37.56 \). Voila, you have your answer! If you want to dive deeper into variance, consider how it measures the spread of data. A lower variance indicates that the data points are closer to the mean, while a higher variance reveals that they are more dispersed. This concept is crucial not just in statistics, but also in fields like finance for assessing risk!