Given their performance record and based on empirical rule what would be the upper bound of...

Given their performance record and based on empirical rule what would be the upper bound of the range of sales values that contains 68% of the monthly sales?

Monthly Sales
7612.98
8393.66
7780.23
7091.18
9450.62
8220.44
7339.97
8589.48
7621.12
8067.21
7432.08
7621.69
7256.68
7821.21
8074.25
8173.28
7745.28
7398.05
7098.52
8484.65
7987.16
7041.5
7937.03
8508.25
8145.68
7802.15
8482.05
6171.19
8870.03
7906.6
9093.87
8010.37
6971.06
8800.08
7209.09
8852.65
8319.31
7982.86
8405.35
9166.74
7634.14
8315.4
8680.97
7540.09
9461.91
9414.57
9335.68
8638.78
7285.7
8376.95
9448.4
8360.16
7767.16
8072.17
9723.44
10062.24
8066.42
8721.08
9389.73
7474.23

Expert Solution

An estimated 68% of the data within the set is positioned within one standard deviation of the mean; i.e., 68% lies within the range [M - SD, M + SD].

Approx. 68% of the data lies between ± 1 SD, or between 7391.79 and 8965.03

Formula Ref:

milcah answered 1 year ago

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