A Researcher Takes a Sample of Three Students from a Large

question 3

Short Answer

A researcher takes a sample of three students from a large class and asks each of them how many times they ate at a fast food restaurant so far this week. The three students' answers are 0, 4, 8. What is the variance for this data? It might help you to know that the standard deviation is 4.
variance: _________

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Definitions:

Net Operating Income

The income generated from normal business operations after deducting operating expenses but before interest and taxes.

Contribution Format

A type of income statement that separates variable costs from fixed costs to show the contribution margin.

Income Statement

A financial statement that shows a company's revenues, expenses, and net income or loss over a specific period of time.

Total Contribution Margin

The difference between sales revenue and variable costs, indicating the total amount available to cover fixed expenses and generate profit.