Answer:
Step-by-step explanation:
The prices he received quotes for are as follows: $663, $273, $410, $622, $174, $374
To begin, we will find the average.
Average = total of data points/ number of data points.
Total of data points =
663 + 273 + 410 + 622 + 174 + 374
= 2516
Total count = 6
Average = 2516/6 = 419.33
Standard deviation = √summation(x - m)^2/n
summation(x - m)^2/n = (663 - 419.33)^2 + (273 - 419.33)^2 + (410 - 419.33)^2 + (622 - 419.33)^2 + (174 - 419.33)^2 + (374 - 419.33)^2
= 179417.9334/6 = 29902.9889
Standard deviation = √29902.9889
= 172.9
