Question

The data in set A represents prices (with tax included) of a large cup of regular coffee for a sample of coffee shops. The data in set B represents numbers of large cups of regular coffee sold in one weekend for the same sample of coffee shops. Which of the two data sets has the smaller spread relative to it's own mean, i.e, has the smaller C.V.? Round to two decimal places.

DATA SET A (in dollars): 1.23, 1.55, 1.01, 1.89, 2.35, 2.56, 2.71, 1.75, 2.01, 1.59
DATA SET B (in number of cups): 119, 145, 97, 121, 118, 98, 102, 114, 118, 99

a. Calculations for A, x̄ = 1.86 and s = .56

b. Calculations for B, x̄ = 113.1 and s = 14.81

Answer 1