Compute the Coefficient of Variation for the Following Sample Data

question 17

Multiple Choice

Compute the coefficient of variation for the following sample data.
32 41 36 24 29 30 40 22 25 37

• A) 18.64 percent
• B) 21.36 percent
• C) 20.28 percent
• D) 21.67 percent

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Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where the amount sellers are willing to sell equals the amount buyers are willing to buy.

Supply Curve Shift

A change in the position of the supply curve, either to the left or right, indicating a change in the quantity supplied at every price level, due to factors other than price.

Downward-Sloping Demand

The economic principle that, all else being equal, as the price of a good or service decreases, consumer demand for it will increase.

Equilibrium Price

The price at which the quantity of a product offered for sale equals the quantity of the product in demand.