Question

listed below in order are prices in dollars for a big mac hamburger in the united states, canada, mexico, china, japan, russia, switzerland, italy, spain, britain, india, and egypt. such data are used to compare currency exchange rates and the costs of goods in different countries. find the range, variance, and standard deviation for the given sample data. what do the measures of variation tell us about the prices of a big mac in different countries?
5.26 5.30 2.61 3.19 3.40 2.32 6.78 5.09 4.81 4.37 2.80 1.85
the range is
(type an integer or decimal rounded to two decimal places as needed.)

Explanation:

Step1: Find the maximum and minimum values

The given data set is \(5.26, 5.30, 2.61, 3.19, 3.40, 2.32, 6.78, 5.09, 4.81, 4.37, 2.80, 1.85\).
The maximum value \(x_{max}=6.78\) and the minimum value \(x_{min}=1.85\).

Step2: Calculate the range

The formula for the range \(R\) of a data set is \(R = x_{max}-x_{min}\).
Substitute the values: \(R=6.78 - 1.85\).
\(R = 4.93\)

Answer:

\(4.93\)