Find the Coefficient of Variation for Each of the Two

question 103

Multiple Choice

Find the coefficient of variation for each of the two sets of data, then compare the variation. Round results to one decimal place.
-The customer service department of a phone company is experimenting with two different systems. On Monday they try the first system which is based on an automated menu system. On Tuesday they try the second system in which each caller is immediately connected with a live agent. A quality control manager selects a sample of seven calls each day. He records the time for each
Customer to have his or her question answered. The times (in minutes) are listed below.
$$\begin{array}{l}\begin{array} { l l l l l l l } \text { Automated Menu: }& 11.1 & 7.4 & 3.8 & 2.9 & 9.2 & 6.3 & 5.5\\\text { Live agent: } & 6.6 & 2.7 & 4.1 & 4.1 & 3.4 & 5.2 & 3.7\end{array}\end{array}$$

• A) Automated Menu: 24.4%
• Live agent: 47.5%
• There is substantially more variation in the times for the live agent.
• B) Automated Menu: 43.9%
• Live agent: 30.2%
• There is substantially more variation in the times for the automated menu system.
• C) Automated Menu: 47.2%
• Live agent: 32.4%
• There is substantially more variation in the times for the automated menu system.
• D) Automated Menu: 45.6%
• Live agent: 31.3%
• There is substantially more variation in the times for the automated menu system.

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Definitions:

Turnover

A measure of a company's sales or revenues relative to the average value of its assets, inventory, or employees.

Return on Investment

A measure of the financial gain or loss on an investment relative to the amount of money invested.

Operating Assets

Assets used by an organization in its day-to-day operations to generate revenue, excluding investments and inventory.

Residual Income

The amount of net income an entity has after deducting all necessary expenses and required returns on investments, representing leftover earnings.