The variance for the data is 17,507. 5.
Given
The weekly salaries of a sample of employees at the local bank are given in the table below.
Employee Weekly Salary Anja $245 Raz $300 Natalie $325 Mic $465 Paul $100.
Variance is the expected value of the squared variation of a random variable from its mean value, in probability and statistics.
The mean value of the salaries of employees is;
[tex]\rm Mean= \dfrac{245+300+325+465+100}{5}\\\\Mean=287[/tex]
The variance is given by;
[tex]\rm Variance=\sqrt{\dfrac{(245-287)^2 +(300-287)^2 +(325-287)^2 +(465-287)^2 +(100-287)^2}{5-2}} \\\\Variance = 132.316}\\\\On \ Squaring \ both \ the \ sides\\\\Variance^2=17,507. 5[/tex]
Hence, the variance for the data is 17,507. 5.
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