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In the data set below, what is the variance?\newline4,3,6,7,3,3,24, 3, 6, 7, 3, 3, 2\newlineIf the answer is a decimal, round it to the nearest tenth.\newlinevariance (σ2)(\sigma^2): _____

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Q. In the data set below, what is the variance?\newline4,3,6,7,3,3,24, 3, 6, 7, 3, 3, 2\newlineIf the answer is a decimal, round it to the nearest tenth.\newlinevariance (σ2)(\sigma^2): _____
  1. Calculate Squared Differences: Now, we will calculate the squared differences from the mean for each data point.\newline(44)2+(34)2+(64)2+(74)2+(34)2+(34)2+(24)2(4 - 4)^2 + (3 - 4)^2 + (6 - 4)^2 + (7 - 4)^2 + (3 - 4)^2 + (3 - 4)^2 + (2 - 4)^2\newline= 02+(1)2+22+32+(1)2+(1)2+(2)20^2 + (-1)^2 + 2^2 + 3^2 + (-1)^2 + (-1)^2 + (-2)^2\newline= 0+1+4+9+1+1+40 + 1 + 4 + 9 + 1 + 1 + 4\newline= 2020
  2. Calculate Variance: Finally, we will calculate the variance by dividing the sum of squared differences by the number of data points NN.σ2=Σ(xiμ)2N\sigma^2 = \frac{\Sigma(x_i - \mu)^2}{N}σ2=207\sigma^2 = \frac{20}{7}σ22.857\sigma^2 \approx 2.857Since we need to round to the nearest tenth, the variance is approximately 2.92.9.

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