Number One: Private School Example
 

A private school received several payments from parents toward their children's tuition on the first day of the school year. Please calculate the variance using the following formula.
 
 

Remember that X = the amount of each transaction, the X with the line above it = the mean amount of the transactions and N = the number of transactions. This formula that you will be using is referred to as the direct method formula. I have set the data up for you to solve in the following table.
 

Tuition Receivable Account (Amount Received)  X	Deviation from the Mean	Deviation from the Mean Answer
$600	435 - 600	Fill In Answer
350	435 - 350	Fill In Answer
275	435 - 275	Fill In Answer
430	435 - 430	Fill In Answer
520	435 - 520	Fill In Answer

Mean=$435 N=4
 

Please solve for this problem and e-mail me your answer to problem Number One to me at twimber@fgcu.edu. I recommend that you print this problem and solve it within the table format provided. Also, when you subtract the X value for each transaction from the mean, don't worry that you will come up with negative numbers. These numbers all become positive when squared in the third column.
 

Number Two: Welfare Recipients Receiving Checks at the Two Year Point of Being Off the Dole
 
 

Welfare  Recipients  Wages Weekly Earnings	Recipients Employed: No. Employees f		Interval Mid- Points   X		Computed figure		Deviation Multiplied by f
$160 & under $170	4		165	194.80-165	Fill In Answer	Fill In Answer	Fill In Answer
170 & under 180	14		175	194.80-175	Fill In Answer	Fill In Answer	Fill In Answer
180 & under 190	18		185	194.80-185	Fill In Answer	Fill In Answer	Fill In Answer
190 & under 200	28		195	194.80-195	Fill In Answer	Fill In Answer	Fill In Answer
200 & under 210	20		205	194.80-205	Fill In Answer	Fill In Answer	Fill In Answer
210 & under 220	12		215	194.80-215	Fill In Answer	Fill In Answer	Fill In Answer
220 & under 230	4		225	194.80-225	Fill In Answer	Fill In Answer	Fill In Answer

Mean=$194.80 N=100
 

In the above problem, an agency employing former welfare recipients are paying 100 of such workers their first paycheck of their second year at the agency. Use the direct method formula for grouped data to find the standard deviation for this group of employees.

 

Please report by e-mail to me the standard deviation for this problem. If you have any difficulties with these problems that can't be solved by working with your course group then please call me at (267-4633 or 590-7752) or e-mail me (twimber@fgcu.edu or edwardwimberley@sprintmail.com)