In 2015, a wholesale company supplied baby clothes in 12 different fashion shops

Question

In 2015, a wholesale company supplied baby clothes in 12 different fashion shops and the company gross annual sales (in million dollars) from these shops are:$87M, $83M, $85M, $81M, $81M, $67M, $75M, $92M, $78M, $89M, $72M and $81M respectively. Recently a new general manger has been appointed to look after the company sales and he asked his company's research officer to provide him with some descriptive statistics about the annual sales. As a company's research officer, you need answer the following question given below. Use only a ROUNDED figure such as 99 and do not write $ or M sign(s) on your answer.

Q. How many observations are within one standard deviation of the mean?

Explanation / Answer

Ans:

Now,observe the table above,there are 8 observations which lies between (73.76,88.07) i.e within one standard deviation of the mean.

shops sales 1 87 2 83 3 85 4 81 5 81 6 67 7 75 8 92 9 78 10 89 11 72 12 81 average(µ) 80.92 sd 7.15 µ+sd 88.07 µ-sd 73.76

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