The arithmetic mean of five observations , , , , and is . What is the variance of this set of observations?
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Answer
The variance of the set of observations is .
First, the missing value is found by equating the sum of the five numbers to , which gives . The data set is . The deviations from the mean are , and their squares are . Summing these squared deviations gives . Dividing by the number of observations () yields the variance of .
Step-by-Step Solution
Key Concept
Variance of Ungrouped Data with a Missing Observation