The results of Accounting Principals\' latest Workonomix survey indicate the ave

Question

The results of Accounting Principals' latest Workonomix survey indicate the average American worker spends $1,092 on coffee annually (The Consumerist, January 20, 2012). Are there differences in coffee expenditures by age group? Samples of ten consumers selected for three age groups (18-34, 35-44, and 45+), and the dollar amount each consumer spent last year on coffee is provided below Click on the datafile logo to reference the data DATAfile 18-34 1355 115 1456 2045 1621 994 1937 1200 1567 1390 35-44 969 434 1792 1500 1277 1056 1922 1350 1586 1415 45+ 1135 956 400 1374 1244 825 763 1192 1305 1510 a. Compute the mean, variance (2 decimals), and standard deviation for the each of these three samples. Round your answers to one decimal place for mean and standard deviation 18-34 35-44 45+ Mean 1368 1330.1 1070.4 Variance Standard Deviation

Explanation / Answer

18-34 35-44 45+ Mean 1368.0 1330.1 1070.4 Variance 292467.33 186332.32 111866.04 Std. dev. 540.8 431.7 334.5

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