Listed below are amounts (in millions of dollars) collected from parking meters by a security service company and other companies during similar time periods. Do the limited data listed here show evidence of stealing by the security service company's employees? Security Service Company:Security Service Company: 1.41.4 1.81.8 1.61.6 1.71.7 1.51.5 1.51.5 1.71.7 1.61.6 1.51.5 1.61.6 Other Companies:Other Companies: 1.81.8 1.91.9 1.61.6 1.71.7 1.61.6 1.81.8 1.71.7 1.51.5 1.81.8 1.71.7 Find the coefficient of variation for each of the two samples, then compare the variation.
Given: Security Service Company: 1.4 1.8 1.6 1.7 1.5 1.5 1.7 1.6 1.5 1.6 Mean: 1.59 Standard Deviation: 0.014333
Other companies: 1.8 1.9 1.6 1.7 1.6 1.8 1.7 1.5 1.8 1.7 Mean: 1.71 Standard deviation: 0.014333
The coefficient of variation for security Service Company:
CV = (Standard Deviation/Mean) * 100.
= (0.14333/1.59) * 100
= 9.01%
The coefficient of variation for other companies:
CV = (Standard Deviation/Mean) * 100.
= (0.014333 / 1.71) * 100
= 8.38%
the limited data listed here show evidence of stealing by the security service company's employees because there is a significant difference in the variation.
