Question

listed below are prices in dollars for one night at different hotels in a certain region. find the range, variance, and standard deviation for the given sample data. include appropriate units in the results. how useful are the measures of variation for someone searching for a room? 207 226 289 233 102 180 131 275 the standard deviation of the sample data is 65.3 dollars. (round to one decimal place as needed.) the variance of the sample data is 4264.1 dollars². (round to one decimal place as needed.) how useful are the measures of variation for someone searching for a room? a. the measures of variation are very useful because a person does not want to buy a room where the variation is too low. b. the measures of variation are very useful because a person does not want to buy a room where the variation is too high. c. the measures of variation are not very useful because the values are nominal data that do not measure or count anything, so the resulting statistics are meaningless. d. the measures of variation are not very useful because when searching for a room, low prices, location, and good accommodations are more important than the amount of variation in the area.

Explanation:

Step1: Find the range

Range = Maximum value - Minimum value. The maximum value is 289 and the minimum value is 102. So, Range = 289 - 102 = 187 dollars.

Step2: Analyze usefulness of variation measures

When searching for a room, low - price, location and good accommodations are more crucial than the variation in prices. High variation might mean some very expensive and some very cheap options, but the key factors for a consumer are usually price level, location etc. rather than just the variation.

Answer:

The range of the sample data is 187 dollars.
D. The measures of variation are not very useful because when searching for a room, low prices, location, and good accommodations are more important than the amount of variation in the area.