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In the data set below, what is the variance?\newline8,7,4,9,78, 7, 4, 9, 7\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?\newline8,7,4,9,78, 7, 4, 9, 7\newlineIf the answer is a decimal, round it to the nearest tenth.\newlinevariance (σ2)(\sigma^2): _____
  1. Calculate Squared Differences: Now, calculate the squared differences from the mean for each data point.\newline(8−7)2+(7−7)2+(4−7)2+(9−7)2+(7−7)2(8 - 7)^2 + (7 - 7)^2 + (4 - 7)^2 + (9 - 7)^2 + (7 - 7)^2\newline=12+02+(−3)2+22+02= 1^2 + 0^2 + (-3)^2 + 2^2 + 0^2\newline=1+0+9+4+0= 1 + 0 + 9 + 4 + 0\newline=14= 14
  2. Find Variance: Next, divide the sum of squared differences by the number of data points to find the variance.\newlineσ2=Σ(xi−μ)2N\sigma^2 = \frac{\Sigma(x_i - \mu)^2}{N}\newlineσ2=145\sigma^2 = \frac{14}{5}\newlineσ2=2.8\sigma^2 = 2.8

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