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The Citizens Banking Company is studying the number of times the ATM at an office complex is used per day. The following table shows the last 15 days use of the ATM.
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83 64 84 76 84 54 75 59 70 61 63 80 84 73 68
a. What is the mean number of times the ATM was used per day?
b. What is the median number of days the ATM was used each day?
c. What is the standard deviation for the sample data (round to the nearest whole number)? _
In problem above:
a. What value sits at 2 standard deviations from the mean?__
b. What value sits at minus 3 standard deviations from the mean? __
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https://brainmass.com/business/business-management/citizens-banking-co-number-of-times-atm-is-used-calculate-220588
Solution Preview
See attached for complete solution.
To find the standard deviation:
Step 1: find the arithmetic mean (average) of the dataset.
Step 2: find the deviation of each number from the mean.
Step 3: square each of the deviations, which amplifies large deviations and makes negative values positive.
Step 4: find the mean of those squared deviations.
Step 5: take the non-negative square root of the quotient (converting squared units back to regular …
