Asked by Tiffany Santo on Jul 08, 2024
Verified
{Average Annual Revenue Narrative} Why are your answers to the previous two questions different?
Standard Deviation
A statistical tool that measures the extent of variation or scattering of values in a dataset, pointing out how much the data varies from the mean.
- Contrast statistical data pertaining to an individual with that of a sample in probability assessments.
Verified Answer
NV
Nhut Vu NguyenJul 13, 2024
Final Answer :
The revenue of one business chosen from the population has more variability than the average revenue of 4 businesses.That means that a revenue lower than 120,000 is harder to achieve with an average of 4 businesses,compared to one business.
Learning Objectives
- Contrast statistical data pertaining to an individual with that of a sample in probability assessments.
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