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In the data set below, what is the variance?\newline7,1,5,2,5,5,37, 1, 5, 2, 5, 5, 3\newlineIf the answer is a decimal, round it to the nearest tenth.\newlinevariance (σ2)(\sigma^2): _____

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Q. In the data set below, what is the variance?\newline7,1,5,2,5,5,37, 1, 5, 2, 5, 5, 3\newlineIf the answer is a decimal, round it to the nearest tenth.\newlinevariance (σ2)(\sigma^2): _____
  1. Calculate Squared Differences: Now that we have the mean, we calculate the squared differences from the mean for each data point.\newline(74)2+(14)2+(54)2+(24)2+(54)2+(54)2+(34)2(7 - 4)^2 + (1 - 4)^2 + (5 - 4)^2 + (2 - 4)^2 + (5 - 4)^2 + (5 - 4)^2 + (3 - 4)^2\newline=32+(3)2+12+(2)2+12+12+(1)2= 3^2 + (-3)^2 + 1^2 + (-2)^2 + 1^2 + 1^2 + (-1)^2\newline=9+9+1+4+1+1+1= 9 + 9 + 1 + 4 + 1 + 1 + 1\newline=26= 26
  2. Find Variance: Finally, we divide the sum of squared differences by the number of data points to find the variance.\newlineΣ(xiμ)2=26\Sigma(x_i - \mu)^2 = 26\newlineN=7N = 7\newlineVariance σ2=(Σ(xiμ)2)/N\sigma^2 = (\Sigma(x_i - \mu)^2)/N\newlineσ2=26/7\sigma^2 = 26/7\newlineσ23.71428571429\sigma^2 \approx 3.71428571429\newlineRounded to the nearest tenth: σ23.7\sigma^2 \approx 3.7

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