dianamao
Hi,
I've got another question; these flashcards are really good btw
:)
On page 33, in the Standard Deviation 3 slide, there is a question of "What is the fastest way to estimate standard
deviation (without calculating it)?" I really want to know the answer, but I don't see the answer in the answer slide?
Am I missing something?
Many thanks.
Diana
(officially, on the GMAT, you usually never have to CALCULATE the SD but you must know how to calculate it, which really means is that you will have to calculate it at least for a few numbers)
This is the answer (taking the above into consideration)
We don't need to calculate as decrease in all elements of a set by a constant percentage will decrease the standard deviation of the set by the same percentage (the average is decreased by 17% as well as the difference between average (mean) and all elements or their squares. Thus the decrease in standard deviation is 17%.