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The results of Accounting Principals latest Workonomix survey indicate the average American worker spends $1092 on coffee annually (The Consumerist, January 20, 2012). To determine if there are any differences in coffee expenditures by age group, samples of 10 consumers were selected for three age groups (18€“34, 35€“44, and 45 and Older). The dollar amount each consumer in the sample spent last year on coffee is provided below.
The results of Accounting Principals€™ latest Workonomix survey indicate the
a. Compute the mean, variance, and standard deviation for the each of these three samples.
b. What observations can be made based on these data?
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