Answer:
17,960
Step-by-step explanation:
Given the following data, book cost (in dollars) = 200, 130, 400, 500, 345.
First of all, we will find the mean of the given data.
[tex]Mean = \frac{200+ 130+ 400+500+ 345}{5}\\Mean =\frac{1575} {5 }\\Mean = 315[/tex]
Or
Mean = (200+130+400+500+345)/5
Mean = 1575/5 = 315.
Second step is to subtract the mean from each book cost;
(200-315) + (130-315) + (400-315) + (500-315) + (345-315)
(-115)+(-185)+85+185+30
Next you square the above deviation;
[tex](-115)^2+(-185)^2+85^2+185^2+30^2\\13225+34225+7225+34225+900\\= 89800[/tex]
Then, divide the above by the average which is 5 in this case.
[tex]Variance = \frac{89800}{5}\\\\Variance = 17960[/tex]
Hence, the value of the variance is 17,960.
