Question

A plumbing supplier's mean monthly demand for vinyl washers is 24,212 with a standard deviation of 6,053. The mean monthly demand for steam boilers is 6.8 with a standard deviation of 1.7. Which demand pattern has more relative variation

Answer 1

Answer:

they both are same relative variation

Explanation:

given data

mean = 24,212

standard deviation = 6,053

mean monthly demand = 6.8

standard deviation = 1.7

solution

The statistical measure to compare the variation of the data from its mean using standard deviation is known as the coefficient of variation.

we get here coefficient of variation that is standard deviation as a proportion of mean that is

CV= $\frac{\sigma}{\mu}\times 100$    

put here value and we get

so first data  

CV = $\frac{6053}{24212} \times 100$

CV = 25 %

and

for Second data

CV= $\frac{1.7}{6.8}\times 100$

CV = 25 %  

as here

both of the sets have the same coefficient of variation

so that they both are same relative variation.