Find the Standard Deviation of the Data Summarized in the Given

question 7

Multiple Choice

Find the standard deviation of the data summarized in the given frequency distribution.
-The manager of a bank recorded the amount of time each customer spent waiting in line during peak business hours one Monday. The frequency distribution below summarizes the results. Find the standard deviation.
Round your answer to one decimal place. $$\begin{array}{l}\text { Waiting time Number of }\\\begin{array} { c c } \text { (minutes) } & \text { customer } \\0 - 3 & 13 \\4 - 7 & 13 \\8 - 11 & 10 \\12 - 15 & 11 \\16 - 19 & 0 \\20 - 23 & 3\end{array}\end{array}$$

• A) 5.6 min
• B) 7.0 min
• C) 5.3 min
• D) 5.9 min

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Definitions:

Potential Customers

Potential customers are individuals or entities that have not yet purchased but have shown interest or fit the profile of a company's target market.

Expected Profit

The projected financial gain a company anticipates earning from its operations or investments, based on various assumptions and calculations.

Price

The amount of money required to purchase a good or service.

Marginal Costs

The change in total costs that arises when the quantity produced is incremented by one unit; it is the cost of producing one more unit of a good.