I'm writing an exam tomorrow and I just can't figure out how to do this sum.
I did the standard deviation already now all I need to know is how to determine the percentage of workers. Sounds weird but I will give you the question
Sample of weekly wages earned by $10$ workers
$2250, 2250, 3000, 3300, 3300, 3600, 3900, 4350, 5250$
Calculate the mean, which is $3555$.
Calculate the standard deviation, which is $900.12$.
Now this is where I can't figure out how to do it .
Determine the percentage of workers which lie within ONE standard deviation of the mean?
Please help me I don't know what formula to use for this question
Best Answer
This is an exercise illustrating the Empirical Rule:
To start, let's get the correct mean $\bar X = 3466.667$ and standard deviation $S = 961.7692.$ (Please do some checking here. Did one of us type the observations incorrectly, or did you incorrectly compute $\bar X$ and $S$.)
Then observations 3000, 3300, 3300, 3600, 3900, and 4350 (six of the nine) are within one standard deviation of the mean. (Please verify this: Find the endpoints of the interval $\bar X \pm S$. Then check which observations fall within the interval.)
So the desired proportion is $6/9 \approx 66.7\%$ (The Empirical Rule suggests this proportion is often 'about 68%`, so your percentage is pretty close. The ER is an approximate rule; don't necessarily expect exact results.)
For reference, computations from R statistical software are as follows:
One more thing: Now, to consolidate you understanding, please try this: The ER suggests that about 95% of the observations fall within two standard deviations of the mean. How many of your observations fall within the interval $\bar X \pm 2S ?$