The following frequency distributionreports the electricity cost for a sample of 50 two bedroom apartments in Albuquerque, New Mexico during the month of May last year.
a. Estimate the meancost.
b. Estimate the standard deviation.
c. Use the Empirical Rule to estimate the proportion of costs within two standard deviations
of the mean. What are these limits?
Electricity Cost Frequency
& 80 up to $100 3
100 up to 120 8
120 up to 140 12
140 up to 160 16
160 up to 180 7
180 up to 200 4
The solution provides step by step method for the calculation of Descriptive Statistics for electricity cost data. . Formula for the calculation and Interpretations of the results are also included.