For the Following Frequency Distribution $$\begin{array}{l}\text { Class } & \text { Frequency }\\45 - 47 & 3 \\48 - 50 & 6 \\51 - 53 & 8 \\54 - 56 & 2 \\57 - 59 & 1\end{array}$$

question 6

Essay

For the following frequency distribution, $$\begin{array}{l}\text { Class } & \text { Frequency }\\45 - 47 & 3 \\48 - 50 & 6 \\51 - 53 & 8 \\54 - 56 & 2 \\57 - 59 & 1\end{array}$$ ​
a.
Compute the mean.
b.
Compute the standard deviation. (Assume the data represent a population.)

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Definitions:

Purchasing-Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach, suggesting that exchange rates should adjust so that identical goods cost the same in different countries.

Foreign-Currency Exchange

The process of converting one country's currency into another, facilitating international trade and investment through varying exchange rates.

Demand Curve

A graph of the relationship between the price of a good and the quantity demanded.

Foreign-Currency Exchange

The process of converting one currency into another currency, typically through a financial institution.