Question

listed below in order are prices in dollars for a big mac hamburger in the united states, canada, mexico, china, japan, russia, switzerland, italy, spain, britain, india, and egypt. such data are used to compare currency exchange rates and the costs of goods in different countries. find the range, variance, and standard deviation for the given sample data. what do the measures of variation tell us about the prices of a big mac in different countries? 5.31 5.29 2.62 3.22 3.39 2.29 6.81 5.06 4.78 4.39 2.76 1.91... the range is 4.9 dollars. (type an integer or decimal rounded to two decimal places as needed.) the variance is 2.26 dollars². (type an integer or decimal rounded to two decimal places as needed.) the standard deviation is □ dollars. (type an integer or decimal rounded to two decimal places as needed.)

Explanation:

Step1: Recall the formula for standard deviation

The standard deviation \( s \) of a sample is the square root of the variance \( s^2 \). The formula is \( s=\sqrt{s^2} \).

Step2: Substitute the variance value

We are given that the variance \( s^2 = 2.26 \) (dollars\(^2\)). So we need to calculate the square root of \( 2.26 \).

Using a calculator, \( \sqrt{2.26}\approx1.50 \) (rounded to two decimal places).

Answer:

\( 1.50 \)