The Standard Deviation of the Ages of a Sample of 16

question 1

Essay

The standard deviation of the ages of a sample of 16 executives from the northern states was 8.2 years; while the standard deviation of the ages of a sample of 25 executives from the southern states was 12.8 years. At $\alpha$ = 0.1, test to see if there is any difference in the standard deviations of the ages of all the northern and southern executives.

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Definitions:

Annuity

A financial product that pays out a fixed stream of payments to an individual, typically used as part of retirement planning.

RRSP

Registered Retirement Savings Plan, a Canadian account for holding savings and investment assets, intended to support retirement.

Quarterly

Occurring or done every three months.

Compounded

A method of calculating interest where previously earned interest is added to the principal amount, and then future interest is calculated on the new total.