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For four days of work, a clerk had daily earnings of $150, $140, $150,

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For four days of work, a clerk had daily earnings of $150, $140, $150, [#permalink]

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Question Stats:

68% (00:52) correct 32% (00:45) wrong based on 95 sessions

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For four days of work, a clerk had daily earnings of $150, $140, $150, and $150 respectively. In which of the following intervals does the standard deviation of the daily earnings lie?

A) Between $140 and $150
B) Between $110 and $140
C) Between $40 and $50
D) Between $10 and $20
E) Between $0 and $10
[Reveal] Spoiler: OA

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Re: For four days of work, a clerk had daily earnings of $150, $140, $150, [#permalink]

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New post 31 Jul 2016, 11:45
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The standard deviation is between 0 and 10.

The reason is that none of the numbers in the set is further away from the mean than 10(or rather Abs(140-(150*3+140)/4)). I am not fully sure how to calculate the standard deviation(I simply remember that there were some formula for calculating the average of the squared distances from the mean for all items in the set from statistics classes - variation), but I believe this will suffice for any GMAT question related to standard deviation.
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Re: For four days of work, a clerk had daily earnings of $150, $140, $150, [#permalink]

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New post 01 Aug 2016, 00:20
147.5 is the mean .

so all numbers will lie between SD 0-10

SD is always across the mean.No need for formula here.Just find the mean and the diff fro the farthest integer(-ve or +ve diff)

that will give u the range of SD

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Re: For four days of work, a clerk had daily earnings of $150, $140, $150, [#permalink]

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Re: For four days of work, a clerk had daily earnings of $150, $140, $150,   [#permalink] 08 Sep 2017, 10:49
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