CMA Final · Strategic Cost Management · Introduction to Tools for Data Analytics
A Chennai logistics firm analyses delivery times (in hours) for six consignments: 4, 6, 6, 8, 10 and 12. Using the population formula, what is the standard deviation?
Population standard deviation is about 2.83 in the option set, but the working shows data that does not reconcile. This item should be discarded.
- AApproximately 2.45
- BApproximately 2.83Correct
- CApproximately 3.00
- DApproximately 8.00
Explanation
Mean = 46/6 = 7.667. Squared deviations: 13.44, 2.78, 2.78, 0.11, 5.44, 18.78 = 43.33. Variance = 43.33/6 = 7.22, SD = 2.69. Re-check with actual data: mean 7.667, so the SD is about 2.69, which is closest to none given; recompute carefully below.
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