Question
a plumbing supplier's mean monthly demand for vinyl washers is 24212 with a standard deviation of 6053. The mean monthly demand for stem boilers is 6.8 with a standard deviation of 1.7. Comapre the dispersion of these distributions. Which demand pattern has more relative variation? Explain
Answers
drwls
The one for which the ratio of standard deviation to mean is highest has the largest relative variation.
In this case, they are both the same.
(std. dev.)/mean = .250 for both
In this case, they are both the same.
(std. dev.)/mean = .250 for both