The following data for a random sample of banks in two cities represent the ATM

Question

The following data for a random sample of banks in two cities represent the ATM fees for using another bank's ATM. Compute the range and sample standard deviation for ATM fees for each city. Which city has the most dispersion based on range? Which city has more dispersion based on the standard deviation?

City A

1.00

1.00

1.50

1.00

1.25

City B

2.25

1.25

1.00

0.00

1.75

The range for city A is

$0.50

The range for city B is

$2.25

The standard deviation for city A is ?

(Round to the nearest cent as needed.)

The standard deviation for city B is ?

(Round to the nearest cent as needed.)

City A

1.00

1.00

1.50

1.00

1.25

City B

2.25

1.25

1.00

0.00

1.75

Explanation / Answer

The statistical software output for this problem is:

Summary statistics:

Hence,

Standard deviation for city A = 0.25

Standard deviation for city B = 0.92

Column Std. dev. City A 0.25 City B 0.92421138

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