THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 308

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
In a recent survey,12 students at a local university were asked approximately how many hours per week they spend on the Internet.Their responses were: 13,0,5,8,22,7,3,0,15,12,13,and 17.
-What is the coefficient of variation for this data?

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Definitions:

Capital Resources

Assets such as buildings, machinery, and equipment used to produce goods and services.

Money Circulating

The total volume of money within the economy that is actively used for transactions, trading, and other financial activities.

Rational Behavior

In economics, it refers to making decisions that maximize an individual's benefit while minimizing costs, based on preferences and available information.

Economic Analysis

A methodical strategy for deciding the best way to allocate limited resources, which includes evaluating multiple options to reach a particular goal within established assumptions and limitations.