Find $S_{X}^{2}$ For the Following Data Set

question 2

Short Answer

Find $S_{X}^{2}$ for the following data set.
8, 7, 2, 4, 4, 8, 2, 4, 6, 5, 7, 3, 9, 4, 5, 4, 7

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Definitions:

Fixed Plant Capacity

The maximum output that a facility can produce in a given period under normal conditions, determined by its physical size and design.

Diminishing Returns

An economic principle stating that as investment in a particular area increases, the rate of profit or benefits gained from additional investment will eventually decline.

Explicit Costs

Direct, out-of-pocket expenses incurred in the operation of a business or investment.

Cash Expenditures

Funds spent by a company or individual in cash form for operating activities, investments, and financing.